{
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      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 64 (daily)</h1>\n<p>Period: 2026-11-03 → 2026-11-03</p>\n<p>Context hash: <code>ac0858e6686fa24bba3659f530b3cac2e17f1f956bad500dbc5b1ea7c05976a2</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>CLO BBB vs AAA tranches: ▼ Bearish — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ◆ Mixed — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Inference demand — OpenRouter: ◆ Mixed — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Dominion total electricity demand: ⊘ No read — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>N. Virginia power basis: ◆ Mixed — Northern Virginia data-centre power economics (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ◆ Mixed — PJM real-time power-price premium over day-ahead (Near term); Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-11-03T03:32:18.638529+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 26 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 30 usable / 21 no read — 8 bullish, 9 bearish, 13 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 14</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>2 confirmed fact(s), 11 awaiting review, and 1 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment; MICROSOFT — Capex commitment; MICROSOFT — Debt refinancing maturity; MICROSOFT — Capex commitment; MICROSOFT — Capex commitment; ORACLE — Capex commitment; ORACLE — Debt refinancing maturity; ORACLE — Vendor financing backstop; ORACLE — Capex commitment; ORACLE — Debt refinancing maturity; ORACLE — Vendor financing backstop.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ◆ Mixed</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:28:56+00:00</li>\n<li>interpretation: Down 0.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: -0.92%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.9208079661719992, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: -0.9208079661719992, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3643379859, &#x27;total_tokens&#x27;: 252832842021878}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:28:58+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.92pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.9156550053303505, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.02958953608048, &#x27;top10_share_change_14d_pp&#x27;: -0.9156550053303505}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:28:58+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 3 cuts, 8 raises.; Fixed-basket price at prior-day token weights: $0.641/Mtok.; Seven-day like-for-like change: +6.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.4130890424131115, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 341, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.641497510961607, &#x27;like_for_like_change_7d_pct&#x27;: 6.4130890424131115, &#x27;price_cut_model_count&#x27;: 3, &#x27;price_raise_model_count&#x27;: 8}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:28:58+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -4.34%.; Token-weighted effective price: $0.640/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.344751474050157, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -4.344751474050157, &#x27;effective_price_usd_mtok&#x27;: 0.640118460865872, &#x27;matched_model_count&#x27;: 341, &#x27;total_standard_tokens&#x27;: 188630583490203, &#x27;unmatched_token_share&#x27;: 3.490945659053219}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-11-02 03:37:30+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 22.3 listings/month.; Relative change: +116.4%.; Trailing three complete months: 145 new listings (48.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 116.41791044776122, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 22.333333333333332, &#x27;listing_rate_change_pct&#x27;: 116.41791044776122, &#x27;newest_complete_month&#x27;: &#x27;2026-10-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 145, &#x27;trailing_3mo_rate&#x27;: 48.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:28:58+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: -0.41pp.; Open-weights share of routed standard tokens: 72.0%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (+0.98pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.4052720464953552, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 0.9778523104553472, &#x27;chinese_lab_token_share&#x27;: 70.34687215453155, &#x27;matched_model_count&#x27;: 341, &#x27;openweights_share_change_14d_pp&#x27;: -0.4052720464953552, &#x27;openweights_token_share&#x27;: 71.96495739229654}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:28:58+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $48.57/MWh vs prior 14-day $46.93/MWh (+3.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.501048050389076, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 48.57489137681159, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 46.93178696428571, &#x27;caiso_da_trend_pct&#x27;: 3.501048050389076}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:28:58+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 17.64 MMBtu/MWh vs prior 14-day 15.56 (+13.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 13.373640473831863, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 17.643895430756846, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 15.562608166251211, &#x27;caiso_heat_rate_trend_pct&#x27;: 13.373640473831863, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 01:30:59+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +0.83% vs control mean +6.98% (gap -6.16pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -6.156689750333696, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -0.46878434333993646, &#x27;dc_load_premium_pp&#x27;: -6.156689750333696, &#x27;erco_load_yoy_7d_pct&#x27;: 14.435354513006455, &#x27;pjm_load_yoy_7d_pct&#x27;: 0.8265953344995631}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough Dominion load history yet</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; weather-blind same-week YoY method</li>\n</ul>\n<h3>N. Virginia power basis — ◆ Mixed</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:28:58+00:00</li>\n<li>interpretation: Dominion-zone congestion is not unusually elevated.</li>\n<li>evidence: Dominion versus Western Hub basis z=0.069</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The basis z-score falls below the registered congestion threshold.</li>\n<li>data quality: descriptive z not calibrated; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 57, &#x27;dc_basis_z&#x27;: 0.06898994809032283, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Down 15.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -15.65%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -15.650610810744968, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -15.650610810744968, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, 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&#x27;epoch_values_hash&#x27;: &#x27;984b18960bcc0a820cfe6cbd5a2f28a532c4d0c8b9f111ac3fe392d07f7a84ec&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2fd62fc3683ef8888fc881efc2f25f8e7eee95cac9f2ee240774a6e13c009eb3&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;62adfdd5d702418eca1421bce5a94c55e6b9fc0ec11f9e68533b565d14cfa140&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;52893f851c273d38fb3a2609452448c8b67bf3040858c87294fd10e70afb3f41&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: 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&#x27;0e31f3d174eddad6a49e6a5a448883cc7b908b0e27b27d3e30cca67587798767&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, &#x27;OKLO.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;ceecd2a9139137719433c29155ce1427583bc79057fa7bc287e6ab19abd519ff&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;826047dced24c64c40a3aed208e1d07fbd32916d2ba224fc99a445828f004ac8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;0492e5914577ab92756f0a5934c45d45e80c7c466631d3b16ed4323bd1a0597f&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, &#x27;URNM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;f660e64ebb7a3467392196fe2c6b343878847fc0c1e2bf67d3abb80c7a60f753&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;009af58c9bf7ae0bb3293e05b24b6c9f8206c234fa3003f4f832e6d7769f311a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9484cbe724dfdcc2cec22dfacfa4e04b97a6df6c0364249f929a532ec6df8b40&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-10-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: 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weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:28:58+00:00</li>\n<li>interpretation: The real-time minus day-ahead power-price spread is not unusually elevated.</li>\n<li>evidence: Seven-day DA/RT spread bias z=-0.006</li>\n<li>conflicting evidence: A price spread does not measure a load forecast error; supply outages, congestion and fuel costs can also change it.</li>\n<li>What would change this call: The spread-bias z-score falls below the registered threshold.</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; source records not yet linked; weekly mean scaled by daily spread std</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 45, &#x27;current_window_days&#x27;: 7, &#x27;current_window_min_observations&#x27;: 3, &#x27;current_window_n&#x27;: 6, &#x27;da_rt_spread_bias&#x27;: 9.447723548611112, &#x27;da_rt_spread_bias_z&#x27;: -0.005653374080817537, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ◆ Mixed</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and holding steady.</li>\n<li>evidence: CBRE H1 2026 Figure 5 quotes $190-$235/kW/month for 250-500 kW requirements. Calculated midpoint: (190+235)/2 = 212.5, unchanged from the cited Q1 range. The chapter states overall rents held steady; larger deployment tiers are not substituted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;unchanged&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: 212.5, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: 1,016 MW added year over year and rising.</li>\n<li>evidence: CBRE H1 2026 overview Figure 1 (Wholesale Primary Market Fundamentals), Northern Virginia row, Inventory Y-o-Y Change (MW): +1,016.4. This is the annual inventory addition ending 30 June 2026, not the 467.6 MW half-year net absorption or the chapter’s 18-month delivery total. The table reports inventory of 4,496.5 MW; its embedded publisher figure is https://e.infogram.com/69f04b2e-aa60-4094-9cc1-caeb3cb6cf28. No prior annual-addition comparator is asserted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1016.4}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Up 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.4118264165077887, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.4118264165077887, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;1ea161ed667814857225995e891288cbda6f9c570cdebfd2f8ed0d5458728e29&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b15c08f15397d7a1a5198b6c9f4226623dc3ea77153cbd198408125e4eb2c60c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;75bf24ae89b844831ac9863842186c2ab8b1d27f30f51083a3eb06933164747c&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;e7f3d4b2ce6ec5583c949b78c8186805606c5cc44a77eaafead35ec9fd298383&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;61e6e493e99869ddd2d72ac8780866d7fb19afeb72155baae93ab0257a5d2053&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ebcfaae26e62f7eb86a69df5eb48b532dcc5a215d8630eb1e15c7fb820285d74&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;52893f851c273d38fb3a2609452448c8b67bf3040858c87294fd10e70afb3f41&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c55159a0e15547be09f6907198c4bf07fd8c258caabe521331a7704e7a563b95&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7d305e158ed62445ad88d66e960dfe01243ea147045fd402a707084fda9636da&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;5ec3ca2d2722d2563ae009d700a8569598a73391ba4c65d380a556e20a97a280&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7d29c5f1a54ed9af29f2e4364000cbd6aeb408643fb2946eaf227906fbcbbd0f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8d4077e7fc29146f7abd3d5dcae37ac51e38c07b7d5a3b8e2debcb3775d2390c&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-10-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-03 03:31:05.781000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0bb07028da2104b51cf23df9440a66b0626bbffde8b7fc590ba2831a848c2822:926c624a01094a4a2c586aab6e9240d113c9b4b893e20c441592a8d4310cfc72&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:318f81e0a1561bdff9039e379857e198011ee97a2cf9e952291f3282aeda6dfe:43e55207343026fd09f4e9984ae6e288106c48c30c26d0645258f748a25fccad&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:42ef74120c894ee804b75bf07a10acc4ecbb7607035754dadf622ccf7b012664&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fe31c8dfea82be24cef4fa4e16d6d75769ba89f5fa8f506191059f4ea4f042f2:1a5de9b424a65dd253d6ace421021bc239bd6b315ecf1666cb52eba9b8b896de&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3c54ed400e55814523240eb7a5f2708ad11047a80a3b5b302b51a897a14d82f2:5f69e558d033f88115635bdceae537ea283dfdefb40df5957809da6073ebfb91&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1f4ea8955db925f9c1e0a21233d43608cb8fea8dc0c22bfc3b7d0b3c9e4ccfd6:ee33738f4a33602a153ef26e2456ede19580e830088adbc41ae1989a32cf3cd0&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:96f0d103127e2505b53abfc928e275554ca309fbb12493e32dc45bc528d3da78:1d32686cbfdcaea4ef6e7249f82b2f765c2ebbea3b412c869022c38ce7fe06a5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:aa6685e5b50a07cb2fe16cedb429e4d13dc0878e63edb8fa0942946a15c54701:c73c8feacd177502f251424d672c692ea0ee6c1a4679f1bebd5d56de254d22ac&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:c43c03c0168f412d8816aa48b10999ff9cf7ee5bdcdae59bf2fd04277c33d9e5&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:62e0990d228e56a47b8d9108a74218bf60362b1b20d5f755e86f2a64e5e7d194&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0bb07028da2104b51cf23df9440a66b0626bbffde8b7fc590ba2831a848c2822:926c624a01094a4a2c586aab6e9240d113c9b4b893e20c441592a8d4310cfc72&#x27;, &#x27;aib_bronze.equity_ohlcv:1f4ea8955db925f9c1e0a21233d43608cb8fea8dc0c22bfc3b7d0b3c9e4ccfd6:ee33738f4a33602a153ef26e2456ede19580e830088adbc41ae1989a32cf3cd0&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:318f81e0a1561bdff9039e379857e198011ee97a2cf9e952291f3282aeda6dfe:43e55207343026fd09f4e9984ae6e288106c48c30c26d0645258f748a25fccad&#x27;, &#x27;aib_bronze.equity_ohlcv:3c54ed400e55814523240eb7a5f2708ad11047a80a3b5b302b51a897a14d82f2:5f69e558d033f88115635bdceae537ea283dfdefb40df5957809da6073ebfb91&#x27;, &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:62e0990d228e56a47b8d9108a74218bf60362b1b20d5f755e86f2a64e5e7d194&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:42ef74120c894ee804b75bf07a10acc4ecbb7607035754dadf622ccf7b012664&#x27;, &#x27;aib_bronze.equity_ohlcv:96f0d103127e2505b53abfc928e275554ca309fbb12493e32dc45bc528d3da78:1d32686cbfdcaea4ef6e7249f82b2f765c2ebbea3b412c869022c38ce7fe06a5&#x27;, &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:c43c03c0168f412d8816aa48b10999ff9cf7ee5bdcdae59bf2fd04277c33d9e5&#x27;, &#x27;aib_bronze.equity_ohlcv:aa6685e5b50a07cb2fe16cedb429e4d13dc0878e63edb8fa0942946a15c54701:c73c8feacd177502f251424d672c692ea0ee6c1a4679f1bebd5d56de254d22ac&#x27;, &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;, &#x27;aib_bronze.equity_ohlcv:fe31c8dfea82be24cef4fa4e16d6d75769ba89f5fa8f506191059f4ea4f042f2:1a5de9b424a65dd253d6ace421021bc239bd6b315ecf1666cb52eba9b8b896de&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 112.55172111067647}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.24% and falling.</li>\n<li>evidence: CBRE H1 2026 Northern Virginia chapter states that vacancy fell to 0.24%. Period ends 30 June 2026; this is a dated vacancy snapshot. No precise prior vacancy is supplied in this chapter.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.24}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Down 8.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -8.47%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.470225365823293, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -8.470225365823293, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;AMZN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;b497dc04e182ee75699463f18c8e95505d85e64f05b8edfd9f12b7e43e12e270&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fc06da6bbc920a39e12c3702ac5d8a1b6e8625dedadbb2af555ccd7299ff60ea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2e0eaff9b4a0bdb2d6d53504c2bd3211d2690a36917d95ba962e5d26c0498c9b&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, &#x27;GOOGL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;59fd7da37af77323839c7c2b88719d2c9e36262797d2082eda497fec510e8819&#x27;, 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Down 40.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -40.85%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -40.84973600569235, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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&#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;f7ccd207b43465d8a41cc53f9278af3b38a18a88bba80d45e5c8bb23f14f12b6&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;b0dc43a85f642b7187fd34780de44513a56d64c73ff564a1e34f486ff579ea47&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-11-03&#x27;, &#x27;row_count&#x27;: 402, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;424d4b52e33989469ef07f54a7a516d6f01a81bc154e029c295bbe10744ea69e&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;52893f851c273d38fb3a2609452448c8b67bf3040858c87294fd10e70afb3f41&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c55159a0e15547be09f6907198c4bf07fd8c258caabe521331a7704e7a563b95&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7d305e158ed62445ad88d66e960dfe01243ea147045fd402a707084fda9636da&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;36cdbd503b83e25d9b8513b96a39e42b2d249a82780f2c80765e179e8ed1a46a&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1d9b8b58cbbd24997a0c56c884214ab0da731ab4ba27ee22847f3448a83fad4f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e48708e963709ef9accbdff878c5c0ef2b6a3d99c8a144b7ee4fa5f888440e55&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;dd54457a04c936a45ddf36d3034d99e269bc93b77007a705859d3fbf6bdef57f&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;146e697902b6d3a9fc4ff55c454488fbde9dbb1e7bfca38e1cc0e655e45bff5c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;row_count&#x27;: 510, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6e998d3c3d833eb1f44da76ff15e39d317202703c2babe0cf39cdf6c4f8fb479&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-10-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-03 03:31:05.781000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ec19d98c3a675a8bac9e4020a47a0bd0c1a682349ca83d2dfc3e2b7f9dc71489:80bb5fde0f3b62725a719cdc01169e05663cd73a6eac59e05e18a4beb582aafa&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:37f90ef22b928c57f2a2d6e5ac48b80b83f63c88a2397bc0fc28f65aa7e0bce8:e1bdcba7a761e8fb1de8b794811de982e565cb26c527d224b2be5b92581f40c5&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:42ef74120c894ee804b75bf07a10acc4ecbb7607035754dadf622ccf7b012664&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fa87ca29151f32b8d121d23acc3ff6dfd6827f704c009a22a2cf6abe77689866:72bce86b79c41c0094e4949befc9c0cc62ed70c3bf84354878ec2f826ef6c7ce&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9e9d908543fc3691e15785501fdf07f383d2e13e91b4f59d013cec9cab2c81a6:bca214643e901dc315cda61869caeff5682241f7638db139a230f0f4bcfb6ec8&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6bca7a3ab90a970d8078c7520268c68e04c81630715387b6ebda60eee27062b3:d17a35ca2c3238e7a85755092a0af1539de4e6ed5f0abedd2821970fd9cad79c&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:39fc71c366683505f1589eee79a5cc0b621ab1638253206171fcf7d01ca73b77:e8f78b17bb5df6bf4137ad7a5dbd67285583685af55a5e1380bb15614ec08d7f&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:96f0d103127e2505b53abfc928e275554ca309fbb12493e32dc45bc528d3da78:1d32686cbfdcaea4ef6e7249f82b2f765c2ebbea3b412c869022c38ce7fe06a5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Down 4.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.863993419950163, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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19.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -19.49%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -19.487582301796202, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -19.487582301796202, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:e9ebe888480ca63a4445bfa94ad6b082d0dfe1b00c20aa0c57e5b2d6d831f69f:a0d559fee8cb9922cf7ea30939d991de71777ff4de940fffaafa26b087cc1661&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 117.45773128719836}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ▼ Bearish</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Down 1.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.65%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:e333bb5b766767f28593891bbcd36b03e286d466a478070e926d97c3936d6688&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:dcafd79d9d1ad69406d2d9337f37fac1bb97054fc27c26a9fe8a471f418c7b3e&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:dcafd79d9d1ad69406d2d9337f37fac1bb97054fc27c26a9fe8a471f418c7b3e&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:e333bb5b766767f28593891bbcd36b03e286d466a478070e926d97c3936d6688&#x27;, &#x27;aib_bronze.equity_ohlcv:57081404d369424ef7ba83719f4e00f4c49485cbdc4e3ad8f2e169cf130594f4:638be64b5ff4516f7dcabfe43eaf14121e5ea3491591e267b13746389cb99336&#x27;, &#x27;aib_bronze.equity_ohlcv:b142708abac58fa1096784a4da980010572d14d102e50744d43451d232d7b29d:d0bacfece9294c7abda19026cfab320705b2c305f4752ef0e93322e9b42af448&#x27;, &#x27;aib_bronze.equity_ohlcv:b209e17677e26c4a7f338caa75e8f75e06d651cf68116442b110783d4de7b6b9:5735a445224c8c724ee77c6430808d8c6d6c9f6ae45d95754bb0d00e2ecb2eb9&#x27;, &#x27;aib_bronze.equity_ohlcv:e6424a61f45c825001915cec1fd032a38eecb0f763ceadbd9ec688472f30eeaf:b93f75092418f7167731ba4659d68b11672b24fce4cb25e7ef4476284e9651f8&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.11757784248384}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.283.; Two-year own-history percentile: 72.9.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 72.91242362525459, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.28346721819474097, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Down 1.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.705251165667221, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.705251165667221, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;345634cbcc438a304b660624d0e412592a8a38016de6fe4eb4c06a2d81439050&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d3369c432c5be8a6922544090830268aaeda517ed8c640e14ea06f9be32c5813&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;afbd5f9206242cd36c57927258ea4e752d1e250cf5a296bd80b6a4a4425d7dba&#x27;, &#x27;symbol&#x27;: 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&#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-03 03:31:05.781000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:afc7353b437c935d55c789d323758ead05fa7cecfcd0bb30bc0ac90a885c160e:5b89d6e2a182c7b8dd741a5351dfeb04b3284da1b643243b313286b631506d7d&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1065d7dac93c5c6b1465863ee51f03998dc47430340f265f5f9915131a9d08b8:37ee17fae605499d3d99f977db54a06ee4dd10bfb0307009cc66842ea0616ba6&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, 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&#x27;aib_bronze.equity_ohlcv:afc7353b437c935d55c789d323758ead05fa7cecfcd0bb30bc0ac90a885c160e:5b89d6e2a182c7b8dd741a5351dfeb04b3284da1b643243b313286b631506d7d&#x27;, &#x27;aib_bronze.equity_ohlcv:cd13f49307584d4d0f631563e8decb82af3f0f2bfcbe1bfac4359fb78e48a3ae:eb67faf33d4859fe2de8aa30ebd0ecd639875e201c9f6f502fccde0020caf1f4&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.96226401539579}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Up 7.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 7.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.409013634303041, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 7.409013634303041, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;52893f851c273d38fb3a2609452448c8b67bf3040858c87294fd10e70afb3f41&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c55159a0e15547be09f6907198c4bf07fd8c258caabe521331a7704e7a563b95&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7d305e158ed62445ad88d66e960dfe01243ea147045fd402a707084fda9636da&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;0e569c98f074505179fb727062a2ec7f5ec7ce4cf694735be9b2789a28e4df44&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;84faf00a82ea793f58bb7f297d9428ccd0e2691fd98330ec61791b4ce833180a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f5038ebfc7648e2feff21631d242fc2ab3ce5638d89d86c54bae10378a2a2c16&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-10-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-03 03:31:05.781000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:42ef74120c894ee804b75bf07a10acc4ecbb7607035754dadf622ccf7b012664&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:35b2b0ce5735fe1e2dfcf96fcc0861ece56f320c937fb5055c892cf98971614c:418185b030a09fbc1506b72f9dc03fb3355fc556ff65ade2eb3e741ae550f643&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:42ef74120c894ee804b75bf07a10acc4ecbb7607035754dadf622ccf7b012664&#x27;, &#x27;aib_bronze.equity_ohlcv:96f0d103127e2505b53abfc928e275554ca309fbb12493e32dc45bc528d3da78:1d32686cbfdcaea4ef6e7249f82b2f765c2ebbea3b412c869022c38ce7fe06a5&#x27;, &#x27;aib_bronze.equity_ohlcv:c7c96d40e221dea783e6d4c3b3426f2ce6b4756324402df904f1826ed25e80e9:c4aa01ebc6715d5ad09125b4307d2e4af983e7313fe63d5629c7e18bdee431fc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.43322112789942}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Down 7.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.96%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.963003193518757, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -6.963003193518757, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;52893f851c273d38fb3a2609452448c8b67bf3040858c87294fd10e70afb3f41&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c55159a0e15547be09f6907198c4bf07fd8c258caabe521331a7704e7a563b95&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7d305e158ed62445ad88d66e960dfe01243ea147045fd402a707084fda9636da&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;e4a0e9e035f6d1837453186983e0ce815f9732d295fe04612d480c187b3c7394&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a8a3dd6b4faa611b22f1bce75655ce08e2f6e56132dd01cddc20030353c25aaa&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;de402cf7b4e88f9aa87eb5567151dcb145d6aaf15b9a03d57df24bedbd6450f8&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-10-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-03 03:31:05.781000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:42ef74120c894ee804b75bf07a10acc4ecbb7607035754dadf622ccf7b012664&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c959eaa287aa7b11313959105c9dd6ac30fcd12834627dccd549c192c5f6c1e5:0418a1f77888e72818b382c4978141fde5df7dc06e6b4086f0cf15494ebd34e2&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:96f0d103127e2505b53abfc928e275554ca309fbb12493e32dc45bc528d3da78:1d32686cbfdcaea4ef6e7249f82b2f765c2ebbea3b412c869022c38ce7fe06a5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-11-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:54bb8babc3a255acd0b47c2fd2208f0132948158b40ceff0e775ed04f5f74580:7aed51579af5eb6d9a017d3c5d2538d099ca267ba1fd27084d39622b309720de&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:54bb8babc3a255acd0b47c2fd2208f0132948158b40ceff0e775ed04f5f74580:7aed51579af5eb6d9a017d3c5d2538d099ca267ba1fd27084d39622b309720de&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:42ef74120c894ee804b75bf07a10acc4ecbb7607035754dadf622ccf7b012664&#x27;, &#x27;aib_bronze.equity_ohlcv:96f0d103127e2505b53abfc928e275554ca309fbb12493e32dc45bc528d3da78:1d32686cbfdcaea4ef6e7249f82b2f765c2ebbea3b412c869022c38ce7fe06a5&#x27;, &#x27;aib_bronze.equity_ohlcv:c959eaa287aa7b11313959105c9dd6ac30fcd12834627dccd549c192c5f6c1e5:0418a1f77888e72818b382c4978141fde5df7dc06e6b4086f0cf15494ebd34e2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 100.59975235691189}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Up 12.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 12.28%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 12.277044745975708, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 12.277044745975708, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;52893f851c273d38fb3a2609452448c8b67bf3040858c87294fd10e70afb3f41&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c55159a0e15547be09f6907198c4bf07fd8c258caabe521331a7704e7a563b95&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:28baccf39e280cae5f94350099d0075174280fa8de9da2ac67bde3919e886c6a:c37bf20e3eb9a8854a5947d72a30484c33a7a0188e298f13cc2137f66990e8d5&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:42ef74120c894ee804b75bf07a10acc4ecbb7607035754dadf622ccf7b012664&#x27;, &#x27;aib_bronze.equity_ohlcv:96f0d103127e2505b53abfc928e275554ca309fbb12493e32dc45bc528d3da78:1d32686cbfdcaea4ef6e7249f82b2f765c2ebbea3b412c869022c38ce7fe06a5&#x27;, &#x27;aib_bronze.equity_ohlcv:b203f8477fe0a55c187d9664793c7798ac49adcbb3533e095aed68a0b52a8262:9964e9de4d254b553872e1fa3902dd4ed6cbeebee7e8fd888312808aef5d6ace&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.766777147128}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Front VIX at 0.94× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.935.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 195, &#x27;epoch_values_hash&#x27;: &#x27;a667d610103ed272c7e8334b0cc0da137d6771527b03cadb6b251f6795f3b009&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6d7e1f45f64dbbf73c548b82630972ff74968647e575c3e897e958eb946d7605&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 572, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;668827a7f941fffc1d6dd2fdc95c487dbf1f7a7e412f8b5c4fa6d15ea8a51338&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 195, &#x27;epoch_values_hash&#x27;: &#x27;f1bcef682cfa33f56f9a414cea4f133149e2ca10e0ecc1660a7df6084d9c5565&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a282bccd7722d0a56be9f9cd55ca60a4f9481bcbba841b002603b0e2109557ba&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 565, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;01dd99e238336daf72f5596c157751a411ea0fcfcd954894f3563ec5ae17b374&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 01:07:33.852000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a4267448a941c4f6752feb2de3498337cdeb27b1771cc6f4f9094c1ec670f619:6c1eb2ce224059ba8b75a92fd005704ba1f0b0a61eddcb936eaf4927b0c6ab3f&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:46bce1ffb56bb10671b260a9ab2a829a72676d8bbce22b551136c8761e62acee:abda5ab53b8960db1ecab2dc6b271420956a54e5aa92c6810cb0c8b9e0ebb5d8&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6132bd08584e3d7903f248fd4609cae6c14f0448ffe85dfcb62196263c7b524f:3dee72af4c433727232656847948e714a9ed82a10637d6f404b74eac8f3a74b3&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5d316f551980ea97f499f163503662083b4b7e65484aa7ce8b75429ded3656de:dec91bc69495a2a7a3745defd918144eef56ec412307c4b1f5157796a1660420&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:46bce1ffb56bb10671b260a9ab2a829a72676d8bbce22b551136c8761e62acee:abda5ab53b8960db1ecab2dc6b271420956a54e5aa92c6810cb0c8b9e0ebb5d8&#x27;, &#x27;aib_bronze.equity_ohlcv:5d316f551980ea97f499f163503662083b4b7e65484aa7ce8b75429ded3656de:dec91bc69495a2a7a3745defd918144eef56ec412307c4b1f5157796a1660420&#x27;, &#x27;aib_bronze.equity_ohlcv:6132bd08584e3d7903f248fd4609cae6c14f0448ffe85dfcb62196263c7b524f:3dee72af4c433727232656847948e714a9ed82a10637d6f404b74eac8f3a74b3&#x27;, &#x27;aib_bronze.equity_ohlcv:a4267448a941c4f6752feb2de3498337cdeb27b1771cc6f4f9094c1ec670f619:6c1eb2ce224059ba8b75a92fd005704ba1f0b0a61eddcb936eaf4927b0c6ab3f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.9345524542829644}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-03 03:30:58+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.3229628709542798, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.3229628709542798, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;2efd293677f2d72d3c94620ebc424664d4e1c1cfd5359aef815da87dd73f1b2d&#x27;, &#x27;history_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;de3bc88df01c5495bf57730cdc1d8f2d70227ab656f9a7ded894585348af1445&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d2a5fcb7c148de564cb484becb3722ab7e69e451fdd714562ea733959d10eba6&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;8e372ae10d71581b287de4d275b830bb3e33be0f83eefe0e803ac2e4ddd31f53&#x27;, 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&#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:fe62933e7391b277e23057ba49425031b78b2ce9512727839de90ff1d31e17ec&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:03fb67bc1bc09607c23099794595724fe20cdfa43cca0250153ac88def86a103:5737f2fef36008d0de7656ab7339e314724dbb8ec42794719c0fefdc7cda4152&#x27;, &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:fe62933e7391b277e23057ba49425031b78b2ce9512727839de90ff1d31e17ec&#x27;, &#x27;aib_bronze.equity_ohlcv:1065d7dac93c5c6b1465863ee51f03998dc47430340f265f5f9915131a9d08b8:37ee17fae605499d3d99f977db54a06ee4dd10bfb0307009cc66842ea0616ba6&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:4c67b8ff0feffc97c00aa22b71f051e1bbd77c0fc06a50b8a43ac916e70d2f89:67335929cf7d308f63db52cb43e49289bd69d1661f5831b668874a6b3f40e290&#x27;, &#x27;aib_bronze.equity_ohlcv:4f9a9909b99369b5e5f7424f2a45b2f747d7270845bf53f9ac7453cb332b88ee:7e736e3add9e7f4ad115150983126d12040335eaa6e191ac8022f65897f3827c&#x27;, &#x27;aib_bronze.equity_ohlcv:96537f631d53209453b5cc17d3ac9a20a7614fd1ce7582219b20a5fdd0d188d3:65928ec5c8ca360b186a319f4766cab39e1b4df4e0d3ec0b7d148c643c82f632&#x27;, &#x27;aib_bronze.equity_ohlcv:be368a09ca9e02665ca8f2ca11079e8896a123c05103f2f28b12d722be580016:ca8d1a29065702c371f4af84185e84ead85e1e2089483267498db0f2dc341819&#x27;, &#x27;aib_bronze.equity_ohlcv:cd13f49307584d4d0f631563e8decb82af3f0f2bfcbe1bfac4359fb78e48a3ae:eb67faf33d4859fe2de8aa30ebd0ecd639875e201c9f6f502fccde0020caf1f4&#x27;, &#x27;aib_bronze.equity_ohlcv:ef26eedced0954ee8c9657e0bd91722312dfde7b855ab79f4590f892006b7cc4:54e9f1611a7b6ab8884e404d9c001970ec20228c06045ef0180a0b2036e39dbb&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.59771990550408}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: event-specific interpretation rules are not implemented; market probabilities remain descriptive</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-02 / 2026-11-02 21:33:59+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $949B (conditional on an IPO), -3.68% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $30,352.; Probability-weighted bucket midpoint: $949B.; Seven-day implied-cap change: -3.68%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.6827767127434186, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.034, &#x27;full_set_prob_sum&#x27;: 0.9935, &#x27;implied_cap_change_7d_pct&#x27;: -3.6827767127434186, &#x27;implied_cap_usd_b&#x27;: 948.5294117647059, &#x27;ipo_by_2026_prob&#x27;: 0.029, &#x27;no_ipo_by_2026_prob&#x27;: 0.9595, &#x27;volume_24h_total&#x27;: 30352.334134999997}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-02</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-11-02</td><td class=\"num\">108,825</td><td class=\"num\">24</td><td>—</td><td class=\"num\">10.41</td></tr>\n<tr><td>CISO</td><td>2026-11-02</td><td class=\"num\">578,934</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.335</td></tr>\n<tr><td>ERCO</td><td>2026-11-02</td><td class=\"num\">1,348,857</td><td class=\"num\">24</td><td>—</td><td class=\"num\">20.97</td></tr>\n<tr><td>PJM</td><td>2026-11-02</td><td class=\"num\">2,064,298</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.559</td></tr>\n<tr><td>SOCO</td><td>2026-11-02</td><td class=\"num\">545,700</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-5.998</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">47.84</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">39.82</td><td class=\"num\">0</td><td class=\"num\">-8.025</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.69</td><td class=\"num\">0</td><td class=\"num\">-4.15</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">69.55</td><td class=\"num\">0</td><td class=\"num\">9.937</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">59.62</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>DOM</td><td class=\"num\">51.04</td><td class=\"num\">0</td><td class=\"num\">7.975</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>WESTERN HUB</td><td class=\"num\">43.07</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-11-02</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 1</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>295 benchmarked model identities; 209 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">58.4</td><td>$4 / $20</td><td class=\"num\">27,533,872,819,721</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">56.9</td><td>$10 / $50</td><td>≥ 1,773,641,295,856</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">54.5</td><td>$2 / $10</td><td class=\"num\">11,312,385,217,331</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">54.2</td><td>$2 / $10</td><td class=\"num\">10,391,132,596,530</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6.1 Terra (Max)</td><td class=\"num\">51.0</td><td>$1 / $5</td><td>≥ 760,896,243,495</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">50.4</td><td>$2 / $10</td><td>≥ 2,979,357,199,732</td></tr>\n<tr><td>Claude Fable 5.1 (Xhigh, Default Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 328,597,815,048</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 41 eligible configurations.</p>\n<p>Usage window: 2026-10-04 → 2026-11-02. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-11-03 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;35d8e02da1956a85dac38d4c9b847ed2c9829d2b2734c0be7c00d1642faaad16&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;41a1cbb02a5ed0d5590f33a9e03b2f397b42f94dfe2a5067d87648c4f38b1a54&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;40b84db467ba7617e11ed90dba6711d0c00fcfa1e88618b1cb3709ef3eb6c42f&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-11-03 03:29:03&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-03 03:29:06&quot;, &quot;record_count&quot;: 1707, &quot;records_hash&quot;: &quot;c359d0313c1f9f9dfb0a7fb22253b1e849c8937b5db04eac73a63913533859a9&quot;, &quot;snapshot_id&quot;: &quot;2418510dd1d28f86f98858707c3870cd19412f5850d4dcf9031a65f9cabc3019&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;c5c5528e11117be19ebcbdcf9e84daaaad16248fac8a18fa3b9eb9eb003a462b&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;a0942a64bc5fefe2a27b5c07f8ce939b826c3d91962c4d1cfd2bcf9bfe2f100e&quot;, &quot;d387405866b767df7bff0b527a0d9add256a06dc50bc924c44d92c6569f084cc&quot;, &quot;b3de80985637f4c45ea4ed388fff42754e88f1b36050afaa11d92973caa7d6be&quot;, &quot;5a2023a7ef0e9a43d9b37927a4f9b10a59d3a8e45cf3c284a3c42f70935297af&quot;, &quot;2e3e88d96f474f5f42d96d7bb6e30587e74d959f19fefad1802d8730b11f6785&quot;, &quot;27ef416218dea7287ca4434c2d4350e37b5d3793b3bd632fa0d48ba2a485498a&quot;, &quot;20b6873f88fe5eebec47256ab96ffd20d355034def33684de8cbb49e03b6848b&quot;, &quot;0480c33a36782b00194d1b2d31c50bc2f6712373f8595edfc9aee37d9806ac7f&quot;, &quot;06015e98ff49d70a216d3e9d85d846061e40adfe41acc2a97d17798ddb8ed20e&quot;, &quot;0a5e5830f89ba119ca1e3f30f89ea975890e7833336e50cd9b8ee48616e3ddb3&quot;, &quot;6ed96124c2ed008c52bae221b56c3ca30dda857fa27de7085f78d754f03e4756&quot;, &quot;029b46fb82305f8f3d5bd4f2efdab42082f470fdb0867a7b66e608e22c4224ba&quot;, &quot;3d8a8cc5d2dddb3f6ad14d4884b0f5bfa2f42803b87c3bbcd73822a1b62f0df2&quot;, &quot;f14ffb2f0e130acf9d69ef1549f24c19edc79b60a9d6931b97c03b3991a74a1b&quot;, &quot;d4660fd059711af79b71e08757543931245847a373edd6a941d9b51ead7719a0&quot;, &quot;ece7edcad61095581f1c39ae1b8c348d47c0e0c09c1d3a0e6faa691f2d0d36b2&quot;, &quot;fc64a435e0525aa6f6b263115c7d7d83bb6bf8038921ac503c3757fb26de0d4b&quot;, &quot;c0945208371f1ab1309469e097952c450389f8f37dcebb6679c4fdaed56cc792&quot;, &quot;e91561f6d5e9f851729bd67f4926f47547550c611a2883574a551693e0c04ba5&quot;, &quot;70ff2fb6e6d8615e808002c320bd738d4cf25c198a7d35208e00e3411be64717&quot;, &quot;2d721f9c87392468011a7e2d379a6b3fb042987c936434218e72ba7df0c68035&quot;, &quot;291058ceb682378731ab998a17790549b87aafcdd97a34c7c2dfab3c1ab52ec2&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-11-03 03:29:09&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-03 03:29:16&quot;, &quot;record_count&quot;: 787, &quot;records_hash&quot;: &quot;27df873b0d21d04ae04512732c18f0d51fc538f4df48496a46fb60ecc25a9324&quot;, &quot;snapshot_id&quot;: &quot;e2b67deaf8dcedff37159fb152622f1c69af0639a6523f15cce15cfe060702ee&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;2d0c088cb84d89b82d35c10c5e23d03353f45ac520fc1feb7893b033743ed5d4&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;a3ec7d92224443d7a1ff7af886eaa4f9caacb4aa608deb394ff3c491446d4b4b&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-11-03 03:28:58&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-03 03:29:06&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;94ea616ff84b55c060f91eb1a6b9fb5176a807006b42c9b52738d5952ed07790&quot;, &quot;snapshot_id&quot;: &quot;d3b7a4d3077f5a9be726e52968548e3e1fec4221c865dfd858a1490f7dc1ad7e&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;2bc4605a9eb2c72bb429a835b704baa56a5a9f3241196b6bce39a13339585250&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;c677809ee913e7743f72d08ad54b6b70b7ac4265f802226f95f73bc143b0e1d6&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-11-03 01:48:44&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-03 01:48:44&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;b6c2ec58ce95aee48bd117bdc2c126676b80050ad7406234f8e222e82ea2eb09&quot;, &quot;snapshot_id&quot;: &quot;519c2bb29f6e678d5e391032f5cc21e69bfe608356e141141a0e152bd9a20499&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>debt maturities</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>424B2</td><td>2026-10-29 11:33:58</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>424B2</td><td>2026-11-02 12:00:26</td><td>capital expenditures</td></tr>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>424B2</td><td>2026-11-02 13:12:55</td><td>capital expenditures</td></tr>\n<tr><td>ORACLE</td><td>debt_refinancing_maturity</td><td>candidate</td><td>424B2</td><td>2026-11-02 13:12:55</td><td>refinance, refinancing, repayment of indebtedness</td></tr>\n<tr><td>ORACLE</td><td>vendor_financing_backstop</td><td>candidate</td><td>424B2</td><td>2026-11-02 13:12:55</td><td>vendor financing</td></tr>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>424B5</td><td>2026-11-02 13:16:06</td><td>capital expenditures</td></tr>\n<tr><td>ORACLE</td><td>debt_refinancing_maturity</td><td>candidate</td><td>424B5</td><td>2026-11-02 13:16:06</td><td>refinance, repayment of indebtedness</td></tr>\n<tr><td>ORACLE</td><td>vendor_financing_backstop</td><td>candidate</td><td>424B5</td><td>2026-11-02 13:16:06</td><td>vendor financing</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …lents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30, 2026, respectively. Equity and oth… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30,… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …minations, see “Description of the Notes—Interest Rate on the Floating Rate Notes.” S-10 Table of Contents USE OF PROCEEDS The net proceeds from the sale of the notes will be used for general corporate purposes, which may include, among other things, funding for working capital, capital expenditures, repurchases of our capital stock, acquisitions and repayment of our existing debt. S-11 Table of Contents CAPITALIZATION The following sets forth our capitalization on a consolidated basis as of September 30, 2026 . We have presented our capitalization on both an actual and an… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526437008/d150456d424b2.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …ese types of determinations, see “Description of the Notes—Interest Rate on the Floating Rate Notes.” S-11 USE OF PROCEEDS The net proceeds from the sale of the notes will be used for general corporate purposes, which may include, among other things, funding for working capital, capital expenditures, repurchases of our capital stock, acquisitions and repayment of our existing debt. S-12 CAPITALIZATION The following sets forth our capitalization on a consolidated basis as of September 30, 2026 . We have presented our capitalization on both an actual and an as adjusted basis… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526442618/d150456d424b2.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>ORACLE · capex_commitment</strong>: …bedded AI-driven automation and analytics and generative AI capabilities; • our expectation that the proportion of our cloud revenues relative to our total revenues will continue to increase; • the sufficiency of our sources of funding and uses of such funds for working capital, capital expenditures, contractual obligations, acquisitions, dividends, stock repurchases, debt repayments and other matters; • our flexibility in managing the timing of certain discretionary capital expenditures; • the timing and amount of expenses we expect to incur; • the amounts and percentages… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526442722/d181336d424b2.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>ORACLE · debt_refinancing_maturity</strong>: …m; Global Note,” Notes in certificated form will not be issued or exchanged for interests in global securities. Governing Law State of New York. Use of Proceeds The net proceeds of this offering will be used for general corporate purposes, which may include capital expenditures, repayment of indebtedness, future investments or acquisitions and payment of cash dividends on or repurchases of our common stock. See “Use of Proceeds” in this prospectus supplement. Further Issuances Oracle Corporation may create and issue further notes of a series ranking equally and ratably with the… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526442722/d181336d424b2.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>ORACLE · vendor_financing_backstop</strong>: …tely $236.1 billion of total liabilities on a consolidated basis and had the ability to borrow up to an additional $19.7 billion under our revolving credit facility and our commercial paper program. In addition, we expect to incur additional borrowings or other liabilities under vendor financing, leases and other financing arrangements. Oracle Corporation and its subsidiaries may incur additional indebtedness in the future, and the Notes do not restrict future incurrence of indebtedness. Any increase in our level of indebtedness will have several important effects on ou… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526442722/d181336d424b2.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>ORACLE · capex_commitment</strong>: …bedded AI-driven automation and analytics and generative AI capabilities; • our expectation that the proportion of our cloud revenues relative to our total revenues will continue to increase; • the sufficiency of our sources of funding and uses of such funds for working capital, capital expenditures, contractual obligations, acquisitions, dividends, stock repurchases, debt repayments and other matters; • our flexibility in managing the timing of certain discretionary capital expenditures; • the timing and amount of expenses we expect to incur; • the amounts and percentages… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526442729/d181425d424b5.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>ORACLE · debt_refinancing_maturity</strong>: …eds We expect the net proceeds from this offering to be approximately $ billion, after deducting the underwriting discounts and our estimated offering expenses. The net proceeds of this offering will be used for general corporate purposes, which may include capital expenditures, repayment of indebtedness, future investments or acquisitions and payment of cash dividends on or repurchases of our common stock. See “Use of Proceeds” on page S-7. Risk Factors See “Risk Factors” on page S-4 and other information included or incorporated by reference in this prospectus supplement and t… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526442729/d181425d424b5.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>ORACLE · vendor_financing_backstop</strong>: …g, which ranks senior to our common S-5 Table of Contents stock, and had the ability to borrow up to an additional $19.7 billion under our revolving credit facility and our commercial paper program. In addition, we expect to incur additional borrowings or other liabilities under vendor financing, leases and other financing arrangements. The closing of this offering is not conditioned upon the closing of the Concurrent Notes Offering. The closing of this offering is not conditioned upon the closing of the Concurrent Notes Offering. Therefore, it is possible that this off… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526442729/d181425d424b5.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-11-03 21:20:17</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">6</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">182</td><td>2026-11-03 03:31:28</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-11-03 06:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">6</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">5</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">3</td><td>2026-11-03 03:29:07</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">12</td><td>2026-11-03 23:11:45</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">24</td><td>2026-11-03 23:19:01</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4970</td><td>2026-11-03 03:31:28</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">671</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">142549</td><td>2026-11-03 03:28:55</td><td>—</td><td>partial: 7 symbols failed: 2308.TW: Price snapshot omits 3 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; VIX.INDX: Price snapshot omits 3 previously retained d</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">132</td><td>2026-11-03 21:54:31</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-11-03 23:31:39</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">451</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">666</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1707</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">787</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-11-03 03:29:10</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-11-03 06:10:05</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-11-03 03:28:55</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-11-04T06:10:17Z",
      "id": "urn:prexel:issue:4059caf5-9c5c-5937-b83c-43a0f4bae93a",
      "summary": "Prexel daily — period ending 2026-11-03. 51 charts: 30 with a read, 21 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 64 (daily)",
      "url": "https://prexel.xyz/issues/2026-11-03-daily-d348f2dca8a5.html"
    },
    {
      "_prexel": {
        "content_hash": "fa726bcf7c444067bf55d1064535e946c813c98c1f4143e7aba298755d64b54f",
        "context_hash": "aad72b3b7141c52f727435f8aa6ce39c2485df92bb2cce827102d7a8cee2f0ef",
        "kind": "daily",
        "period_end": "2026-11-02"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 63 (daily)</h1>\n<p>Period: 2026-11-02 → 2026-11-02</p>\n<p>Context hash: <code>aad72b3b7141c52f727435f8aa6ce39c2485df92bb2cce827102d7a8cee2f0ef</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>CLO BBB vs AAA tranches: ▼ Bearish — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▲ Bullish — listed data-centre landlord pricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Inference demand — OpenRouter: ◆ Mixed — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>N. Virginia power basis: ◆ Mixed — Northern Virginia data-centre power economics (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ◆ Mixed — PJM real-time power-price premium over day-ahead (Near term); Evidence eligibility changed. Published 2026-11-02T03:40:51.800879+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Evidence revised; cause unclassified. Published 2026-11-02T03:40:51.800879+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 26 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 31 usable / 20 no read — 9 bullish, 12 bearish, 10 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 7</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>2 confirmed fact(s), 4 awaiting review, and 1 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment; MICROSOFT — Capex commitment; MICROSOFT — Debt refinancing maturity; MICROSOFT — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ◆ Mixed</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:28+00:00</li>\n<li>interpretation: Down 0.3% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: -0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.34007136141432914, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: -0.34007136141432914, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3630425353, &#x27;total_tokens&#x27;: 253359616930633}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:30+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.48pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.5%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.4836944158024181, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.47679227217323, &#x27;top10_share_change_14d_pp&#x27;: -0.4836944158024181}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:30+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 7 cuts, 5 raises.; Fixed-basket price at prior-day token weights: $0.597/Mtok.; Seven-day like-for-like change: +0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.3441600414826995, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 340, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.5965558728117563, &#x27;like_for_like_change_7d_pct&#x27;: 0.3441600414826995, &#x27;price_cut_model_count&#x27;: 7, &#x27;price_raise_model_count&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:30+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -10.83%.; Token-weighted effective price: $0.597/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.827970687834277, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -10.827970687834277, &#x27;effective_price_usd_mtok&#x27;: 0.5970454667112631, &#x27;matched_model_count&#x27;: 341, &#x27;total_standard_tokens&#x27;: 184360302009523, &#x27;unmatched_token_share&#x27;: 3.538948860765582}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-11-01 03:17:05+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 22.3 listings/month.; Relative change: +116.4%.; Trailing three complete months: 145 new listings (48.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 116.41791044776122, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 22.333333333333332, &#x27;listing_rate_change_pct&#x27;: 116.41791044776122, &#x27;newest_complete_month&#x27;: &#x27;2026-10-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 145, &#x27;trailing_3mo_rate&#x27;: 48.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:30+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: -0.76pp.; Open-weights share of routed standard tokens: 72.1%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (+0.00pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.7643434622675755, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 0.004765055776630334, &#x27;chinese_lab_token_share&#x27;: 70.15151375281836, &#x27;matched_model_count&#x27;: 341, &#x27;openweights_share_change_14d_pp&#x27;: -0.7643434622675755, &#x27;openweights_token_share&#x27;: 72.08712542794609}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:36+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $48.65/MWh vs prior 14-day $46.60/MWh (+4.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.408062584646668, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 48.652433095238095, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 46.5983487202381, &#x27;caiso_da_trend_pct&#x27;: 4.408062584646668}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:36+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 17.87 MMBtu/MWh vs prior 14-day 15.20 (+17.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 17.55274342343173, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 17.86620307519143, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 15.198456926552824, &#x27;caiso_heat_rate_trend_pct&#x27;: 17.55274342343173, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 02:18:07+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +0.94% vs control mean +5.59% (gap -4.65pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -4.65405787845405, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -0.25745611493090814, &#x27;dc_load_premium_pp&#x27;: -4.65405787845405, &#x27;erco_load_yoy_7d_pct&#x27;: 11.447395224693096, &#x27;pjm_load_yoy_7d_pct&#x27;: 0.9409116764270441}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:30+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +7.94% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.938966362634922, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 7.938966362634922, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ◆ Mixed</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:36+00:00</li>\n<li>interpretation: Dominion-zone congestion is not unusually elevated.</li>\n<li>evidence: Dominion versus Western Hub basis z=-0.487</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The basis z-score falls below the registered congestion threshold.</li>\n<li>data quality: descriptive z not calibrated; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 56, &#x27;dc_basis_z&#x27;: -0.486510935491289, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Down 14.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.76%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.757922474080786, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.757922474080786, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, 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weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-02 03:37:36+00:00</li>\n<li>interpretation: The real-time minus day-ahead power-price spread is not unusually elevated.</li>\n<li>evidence: Seven-day DA/RT spread bias z=0.147</li>\n<li>conflicting evidence: A price spread does not measure a load forecast error; supply outages, congestion and fuel costs can also change it.</li>\n<li>What would change this call: The spread-bias z-score falls below the registered threshold.</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; source records not yet linked; weekly mean scaled by daily spread std</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 44, &#x27;current_window_days&#x27;: 7, &#x27;current_window_min_observations&#x27;: 3, &#x27;current_window_n&#x27;: 4, &#x27;da_rt_spread_bias&#x27;: 18.59046845833333, &#x27;da_rt_spread_bias_z&#x27;: 0.1465851151991937, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ◆ Mixed</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and holding steady.</li>\n<li>evidence: CBRE H1 2026 Figure 5 quotes $190-$235/kW/month for 250-500 kW requirements. Calculated midpoint: (190+235)/2 = 212.5, unchanged from the cited Q1 range. The chapter states overall rents held steady; larger deployment tiers are not substituted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;unchanged&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: 212.5, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: 1,016 MW added year over year and rising.</li>\n<li>evidence: CBRE H1 2026 overview Figure 1 (Wholesale Primary Market Fundamentals), Northern Virginia row, Inventory Y-o-Y Change (MW): +1,016.4. This is the annual inventory addition ending 30 June 2026, not the 467.6 MW half-year net absorption or the chapter’s 18-month delivery total. The table reports inventory of 4,496.5 MW; its embedded publisher figure is https://e.infogram.com/69f04b2e-aa60-4094-9cc1-caeb3cb6cf28. No prior annual-addition comparator is asserted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1016.4}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Up 3.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.6932168630478657, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.6932168630478657, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;c6628676aa56ecb5e9c269fc8c45b0561f2d69b4b954afc156ebccacd84088fb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b9bbb59a9ff1990f8bf50f187c2cf6830264be0ef70b18d98e9a6f5bc3aa4442&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8afdecef247b30fcb526b2bb5e9cdbade034d834a47235c2e98cc7148413d10f&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;e9bd61f7ed9a0fda8d6d89cf50df01562a1cd3e2acbf0cd7772aa7726920c150&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dc2c75dce5a8a7f9fc651ffff1e06eaee3e272a6916b0514a689e00e37d971ca&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4b10dde8825268d5beac550c48ecfaededf0ce922eb86d0b76a634fd9ba5c50e&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;007c8f4a3fb523e48f4d1dbd276ea34b2d423ce648e374056652c51c8319a0d7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;2e80dc53419df5cb9ff1ac4ddc1ee68211dde91f8819f7b3fa146acf8e63c5a2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ea5ead4a81340a0a6f119f2aff24293e10f9e9ef4ba2571757992023ef36abc1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a762c51c0fd76496ce9e4abd00db2015b13fc28ecf73cd0d10af4341f6cbf5c3&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:de4a712692b0d9bd80ba0744f90bdad8f1657799ce16b20d737006b794ebe25f:0b70c879cf4c82098c424efa80f6b533bc9946965e24931fa776f6fffa05b93b&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:c9e07ab5a6073cce72fe7cbed6d879d7c68d135ef2b114ac4acb5c06f9adafb1:1bf67429048aefe64ac071e587ca792425cd3704c2f05c28c9f4c71f3c8020e2&#x27;, &#x27;aib_bronze.equity_ohlcv:cbba82dba98b07f9cddfae6412b59a4ac337d3a2d541c3b03d946a9d5f793a1e:55fbaaaeddd7874b8dd500cb921f9789b1682ea4995c2e3ad6863126e6b7dc97&#x27;, &#x27;aib_bronze.equity_ohlcv:de4a712692b0d9bd80ba0744f90bdad8f1657799ce16b20d737006b794ebe25f:0b70c879cf4c82098c424efa80f6b533bc9946965e24931fa776f6fffa05b93b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 114.12808125122342}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.24% and falling.</li>\n<li>evidence: CBRE H1 2026 Northern Virginia chapter states that vacancy fell to 0.24%. Period ends 30 June 2026; this is a dated vacancy snapshot. No precise prior vacancy is supplied in this chapter.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.24}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Down 6.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.855307804740784, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -6.855307804740784, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;007c8f4a3fb523e48f4d1dbd276ea34b2d423ce648e374056652c51c8319a0d7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;META.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;ac4b4388a71d382f135712405c1a6a02bf414089ef9b51e67b5a1ffeed3d837a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c229652129b925728ee9e1ef654dea70875c8eb122855ca5b9a0a0d7949d8633&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3e7f11af0a8e670dac406474cf28453d688a6cfb93334f23a762d76fcaa21c73&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, &#x27;MSFT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;feec17a098cdfe11ad4f952da4f7a6fbbaa6c38e076b799934d20cab4640d40c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;eeb741ec91b0778c5b4c5ed34365beb039af6e85bcef9e2814922dcd12f1e06f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e7e96c3c8dd43335ecfc16488cb3daf7b734dd602f8e8a0f5444e9d47e04d5ae&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, &#x27;ORCL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;b591145d0fd1cd009b6c54ce9ac2ff59b725c6d086e89410064209a13fade445&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;54e6753b648c6a12d348a523f83556e54b59c379783ea14983b39b877c97ac59&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b1d49aacf6288efa47a05049f1e54fd265960a2a007942f64093184c28610215&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;MSFT.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;AMZN.US&#x27;, &#x27;META.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3d555a0ba10b1ddb90dc0af07c2f6c3e716d1bd3ee37c150233dd1888460a1bb:b673e508c86777aeae813ac04ed6337b876482c83df3e40f7d78caee2f068e04&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:22d2948c8757d9a3724c54e04b7ee83eb75beea626b4976d17173c1a4dff1c35:17d9854eba5cc1c8122e3d883846586e90e074a7ccda6aab1c79ab191d007766&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Down 34.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -34.45%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -34.44909877007686, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Down 2.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.3552218273808045, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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14.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.56%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.562472948621629, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.562472948621629, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;aib_bronze.equity_ohlcv:b3d8c57c93639a8c14f67a3a7ca25dde3e43669430122adc49712c6f2ac05b9f:b7d38deea104e52c7b0c447b10d6963133b18bb755b9698138cbcfa85915bdf7&#x27;, &#x27;aib_bronze.equity_ohlcv:dc38438739191a27805f0b328725ae6333027f40fabc9e9e3f9005c11271edd7:a97acce157faee8801362f5d4c57ddeae597e3c9fc08fa7cb067aa74f68c9193&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 120.93701460165983}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ▼ Bearish</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.2672929712615577, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.2672929712615577, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;JAAA.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;c59b79c8e3ce5a9920447f9958b77b44583449c8480644636040d7e3ccb8d911&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fa24b0d31f8e4532e31efc27b81b8b63adf6b39fa47893e95a11e59785dd6970&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ee086b6fd4761d0e1a4535c308991e676a2d10091afabf49b56c411c49d10c88&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;6f369f5d183ee96a311da531e0191b3064a33faece6a2193bb59906587aa07d7&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;905e300e7a2f77f8b069b7cf7067db05454cf33f96cd79e3b66f8a3e7e5e94ae&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6e063c5837f53c6da24e56a432317faea4289fbab6a6daa136ad57bd399c7bcd&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 06:56:57.998000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4c2e897ecdcce6198d21a39960fc0dd7e0dddd02702481624567bc79f9cbec5c:366f3677ae8018a16fd7a5fadfa3256c61b9a7c68fc33f49c40db79d80d09da7&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:98b75ebf48dbae49c494f2a7f7aaba5bfb583538fbf5e1d8e0183afad93b7bdd:51a70d1c56661fcdf87a05907c5aee09c5a3272fd7fd4ef4f58f8051556feab8&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c92988c2a84a05279449123ef890323278c6e71b566724fc131e90460e6ea50b:f1d0650e37464f62097461cbae1057b7928c6ae24cdb6efbf9bafa35be299857&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e99b3f38c98b83eab842e0b82f3a6bb72c46354822e2a02650d9d3aa6cec57e8:c635c1fa1e0274a613da5c34a241946b6486494805c1794eaf0fad5ca2db42e6&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:e333bb5b766767f28593891bbcd36b03e286d466a478070e926d97c3936d6688&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:dcafd79d9d1ad69406d2d9337f37fac1bb97054fc27c26a9fe8a471f418c7b3e&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:dcafd79d9d1ad69406d2d9337f37fac1bb97054fc27c26a9fe8a471f418c7b3e&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:e333bb5b766767f28593891bbcd36b03e286d466a478070e926d97c3936d6688&#x27;, &#x27;aib_bronze.equity_ohlcv:4c2e897ecdcce6198d21a39960fc0dd7e0dddd02702481624567bc79f9cbec5c:366f3677ae8018a16fd7a5fadfa3256c61b9a7c68fc33f49c40db79d80d09da7&#x27;, &#x27;aib_bronze.equity_ohlcv:98b75ebf48dbae49c494f2a7f7aaba5bfb583538fbf5e1d8e0183afad93b7bdd:51a70d1c56661fcdf87a05907c5aee09c5a3272fd7fd4ef4f58f8051556feab8&#x27;, &#x27;aib_bronze.equity_ohlcv:c92988c2a84a05279449123ef890323278c6e71b566724fc131e90460e6ea50b:f1d0650e37464f62097461cbae1057b7928c6ae24cdb6efbf9bafa35be299857&#x27;, &#x27;aib_bronze.equity_ohlcv:e99b3f38c98b83eab842e0b82f3a6bb72c46354822e2a02650d9d3aa6cec57e8:c635c1fa1e0274a613da5c34a241946b6486494805c1794eaf0fad5ca2db42e6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.24650810298445}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.290.; Two-year own-history percentile: 74.3.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 74.28571428571429, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.28985065510622654, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Down 1.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.712043402437391, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.712043402437391, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;39dec70ba8fe6aaf5213df46af962606da0b88336f345153bd1b1ca17ee93bcf&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7a051b9e4fda585f2336bd57a9ec76556f7068caaf2f43c008e0a7b336a2f72f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;99dd4e4e299a8c6e94a80ac55c5cbe09ceda9ac1123939c403683850ca9b7df1&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;1b4844c107486d96808e2c78bf1be51faf426e23bbd137bf7cafbedf770641ae&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b93b643c2fd6e3bcb8dbf30c9ff6f960e35b53287943766dd251b4e1f6f96845&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fb2976fcea7cb5738dfb771d474e987633dccb0c07d0d38aeaeba4e40e47205c&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: 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&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:2a8d7aff4c9aaed9115da81b195629ed91eb20b3fcd9fc332c46758095b07a0c:009d6087b86421dc77ef698ac75bbd116b69cf428cb847a75d05ae3a71236543&#x27;, &#x27;aib_bronze.equity_ohlcv:4669c7114a6f4475b7599ff688a00cd0cffdb2cee8b1fdde998d4f6d9b20198d:6455245ddea9337f566d7085fedc66c36055c0ebe65ec3cfc6845931acfbfc09&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:7c40427d6a0c550607be84b9a2dacccc9a2c816c9c554c871ba7fe85866c76fe:8caf5cbdfd67d0f85ce60adf38699566c69f51052e4c0c47455f69968ab61145&#x27;, &#x27;aib_bronze.equity_ohlcv:b4039303967d2e5e886e2abc1b291be2251b5ec9b3bc477f5226df893e8e1d1d:721d6341cba1d7afeb59425d4d9b6485adf00cf6cccf4a037abbbf6b9104b8a1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.98875016911262}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Up 5.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.936144507127894, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 5.936144507127894, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;007c8f4a3fb523e48f4d1dbd276ea34b2d423ce648e374056652c51c8319a0d7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;4dc3476134f5804a7788047876f8f582302984de34bb58e33a8a27e4dcceb214&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;05e17ff541308ff0397fc8d0be517da3fd3d6b7371ebae2710e8ecd105d8b8ef&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d6cd5e75643da8d06a9829ab4b9132b9896e60ef8fb93a4a54cbe5e0d709c06d&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cb26e94bc65f643ae7d150ee1c2f64991f891bf5cb21419382684b751c305ecd:81dce0549626192cc0fe240f0fc864cc391185b8df691e6ea2dc8df81c43d49a&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5dc07125049f497adb4965a8c0c58ce0d5c4dd082d77bb366b6d494ff2261732:800e2a3c9c9f04b94c179c2737611f25ce181e82b2c4ede91961abc8c7d083a3&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:5dc07125049f497adb4965a8c0c58ce0d5c4dd082d77bb366b6d494ff2261732:800e2a3c9c9f04b94c179c2737611f25ce181e82b2c4ede91961abc8c7d083a3&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:cb26e94bc65f643ae7d150ee1c2f64991f891bf5cb21419382684b751c305ecd:81dce0549626192cc0fe240f0fc864cc391185b8df691e6ea2dc8df81c43d49a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.1243351103007}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Down 5.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.774765900802759, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -5.774765900802759, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;007c8f4a3fb523e48f4d1dbd276ea34b2d423ce648e374056652c51c8319a0d7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;484119ab73ac202628e4c1e3b5eca535674e20b1744c9242f09db67144b601f0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;baced75a72eaad662869c83860bf33c81229ca3fab609cabd52d8408e428f09d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4702ea24b18c6487a46b20a49912f92cfb23c3063dfb89cb525fa850bfc7f806&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 06:56:57.998000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10105bcd5e3d8ed38a3023064e0b2ade5db7a982e0b8aa0d3c46897495cd5b7d:ce4336e17a0f593bd5262ac21e8431438da8931cd7a1a818ea0e6f397c1c351f&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:10105bcd5e3d8ed38a3023064e0b2ade5db7a982e0b8aa0d3c46897495cd5b7d:ce4336e17a0f593bd5262ac21e8431438da8931cd7a1a818ea0e6f397c1c351f&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:ff306e540517eb5400e17117c6aa299f27650e9d60080d57af0853e93911930e:bd4ff94fabad3ffb87a56afd0e05aaf8d8de48edb6d237477fa9fd242fbc5977&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.49909248597868}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Up 11.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 11.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.154883658144099, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 11.154883658144099, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;007c8f4a3fb523e48f4d1dbd276ea34b2d423ce648e374056652c51c8319a0d7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;a23890f964962173f93eca2ff8e4ec0e5c526f7137f833bdf0a12c093819b438&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;35787f9483640b7f9b26893d4868e5653fa9533d3c78f192c73c7305541235a8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f0df9d58683cc30a7573ee16df5a1776ee3ac7510b0afc564a210a6414816d2d&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d96fb1e635a3c5cae54602fa887e9f86c5e8b5fb100875a46da84216e3f2160f:9ecdcfc062bdfc8b9628c54ff74b76ebb7aa9702397738d86f28a6eab7034035&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:786cf11913df6307ebd743198970ba77f221b5d6361798c399cd82a20735d778:1fad76c3e1f88bc3ccfc16850a99ab57a88a33a06cbf853342b5100a01b63289&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:786cf11913df6307ebd743198970ba77f221b5d6361798c399cd82a20735d778:1fad76c3e1f88bc3ccfc16850a99ab57a88a33a06cbf853342b5100a01b63289&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:d96fb1e635a3c5cae54602fa887e9f86c5e8b5fb100875a46da84216e3f2160f:9ecdcfc062bdfc8b9628c54ff74b76ebb7aa9702397738d86f28a6eab7034035&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 95.74402364455193}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Front VIX at 0.94× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.935.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 195, &#x27;epoch_values_hash&#x27;: &#x27;a667d610103ed272c7e8334b0cc0da137d6771527b03cadb6b251f6795f3b009&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6d7e1f45f64dbbf73c548b82630972ff74968647e575c3e897e958eb946d7605&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 572, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;668827a7f941fffc1d6dd2fdc95c487dbf1f7a7e412f8b5c4fa6d15ea8a51338&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 194, &#x27;epoch_values_hash&#x27;: &#x27;5db27f51d9eb8fb60d60be8611fec04c05d07f354546db1d88ba053cfeebe93f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;688877ede6a98aed85e2584f930c7f564b0d8fec7183c440f3868fa099147268&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 564, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3d15c601eff277bb5d31a6e54190506fedcb34fe6699cbdc84f68b514c2b4519&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 01:07:33.852000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a4267448a941c4f6752feb2de3498337cdeb27b1771cc6f4f9094c1ec670f619:6c1eb2ce224059ba8b75a92fd005704ba1f0b0a61eddcb936eaf4927b0c6ab3f&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:46bce1ffb56bb10671b260a9ab2a829a72676d8bbce22b551136c8761e62acee:abda5ab53b8960db1ecab2dc6b271420956a54e5aa92c6810cb0c8b9e0ebb5d8&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6132bd08584e3d7903f248fd4609cae6c14f0448ffe85dfcb62196263c7b524f:3dee72af4c433727232656847948e714a9ed82a10637d6f404b74eac8f3a74b3&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5d316f551980ea97f499f163503662083b4b7e65484aa7ce8b75429ded3656de:dec91bc69495a2a7a3745defd918144eef56ec412307c4b1f5157796a1660420&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:46bce1ffb56bb10671b260a9ab2a829a72676d8bbce22b551136c8761e62acee:abda5ab53b8960db1ecab2dc6b271420956a54e5aa92c6810cb0c8b9e0ebb5d8&#x27;, &#x27;aib_bronze.equity_ohlcv:5d316f551980ea97f499f163503662083b4b7e65484aa7ce8b75429ded3656de:dec91bc69495a2a7a3745defd918144eef56ec412307c4b1f5157796a1660420&#x27;, &#x27;aib_bronze.equity_ohlcv:6132bd08584e3d7903f248fd4609cae6c14f0448ffe85dfcb62196263c7b524f:3dee72af4c433727232656847948e714a9ed82a10637d6f404b74eac8f3a74b3&#x27;, &#x27;aib_bronze.equity_ohlcv:a4267448a941c4f6752feb2de3498337cdeb27b1771cc6f4f9094c1ec670f619:6c1eb2ce224059ba8b75a92fd005704ba1f0b0a61eddcb936eaf4927b0c6ab3f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.9345524542829644}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-02 03:39:24+00:00</li>\n<li>interpretation: Down 3.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.66%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.657283416478363, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -3.657283416478363, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;db6c8f7a25c258a271e63dcf79a6e76afc1a44ff65537ca2b95e7ee01bf43c4c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9f11269f6e36ac57ac2ce8cf8f9665812e3bf890efe725f0e2ba9811c0cc0f16&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1c3f23babd9c4728274fe64014a4fe6f4f538aa46fb5184a4bc82573af00caca&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;50640e90ceda7a270c2972aedac75b6b1c62ea1d166fe60e95e372dccd39ae54&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7ceebf0f0f438c35f849b8fe1d4bcd673df70fb8fbb96508d98ca63336f859b7:33f65250280388e17b3ea6900aa9903c3f9f8df2f8961ad87ba3323c00a081c5&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:d49e019b4d9d19ae602810c44854981bacb02b19ff71587684a4e0d6d8473233:d8b3d95044f54ee1881190ac55de95ae85a1f3df036eb9969ffc10d0a8886623&#x27;, &#x27;aib_bronze.equity_ohlcv:d7046a88910d134d969e6ab26ed9d3ff0400e7569cde9e2972348f0384ddee27:bbb17a2ba430de58b1a06dcc1f91660f4ceb892c741e455f55b30428d3c2ed05&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.72663388685892}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: event-specific interpretation rules are not implemented; market probabilities remain descriptive</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-11-01 / 2026-11-01 21:22:58+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $997B (conditional on an IPO), +2.11% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $12,280.; Probability-weighted bucket midpoint: $997B.; Seven-day implied-cap change: +2.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.1146198830409357, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0375, &#x27;full_set_prob_sum&#x27;: 0.998, &#x27;implied_cap_change_7d_pct&#x27;: 2.1146198830409357, &#x27;implied_cap_usd_b&#x27;: 996.6666666666667, &#x27;ipo_by_2026_prob&#x27;: 0.0275, &#x27;no_ipo_by_2026_prob&#x27;: 0.9605, &#x27;volume_24h_total&#x27;: 12279.772078}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-11-01</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-11-01</td><td class=\"num\">111,331</td><td class=\"num\">24</td><td>—</td><td class=\"num\">16.98</td></tr>\n<tr><td>CISO</td><td>2026-11-01</td><td class=\"num\">526,546</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-2.509</td></tr>\n<tr><td>ERCO</td><td>2026-11-01</td><td class=\"num\">1,254,433</td><td class=\"num\">24</td><td>—</td><td class=\"num\">19.52</td></tr>\n<tr><td>PJM</td><td>2026-11-01</td><td class=\"num\">1,940,206</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.073</td></tr>\n<tr><td>SOCO</td><td>2026-11-01</td><td class=\"num\">510,480</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-5.183</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.24</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">42.4</td><td class=\"num\">0</td><td class=\"num\">-1.836</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.32</td><td class=\"num\">0</td><td class=\"num\">-0.9114</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">47.63</td><td class=\"num\">0</td><td class=\"num\">4.771</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">42.86</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-11-01</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 1</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>296 benchmarked model identities; 210 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">58.4</td><td>$4 / $20</td><td class=\"num\">26,888,125,518,291</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">56.9</td><td>$10 / $50</td><td>≥ 1,808,081,798,211</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">54.5</td><td>$2 / $10</td><td class=\"num\">10,898,080,486,492</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">54.2</td><td>$2 / $10</td><td class=\"num\">10,183,129,781,264</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6.1 Terra (Max)</td><td class=\"num\">51.0</td><td>$1 / $5</td><td>≥ 638,085,956,997</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">50.4</td><td>$2 / $10</td><td>≥ 2,819,259,309,815</td></tr>\n<tr><td>Claude Fable 5.1 (Xhigh, Default Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 328,597,815,048</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 36 eligible configurations.</p>\n<p>Usage window: 2026-10-03 → 2026-11-01. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-11-02 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;c781a0255bcbe4d301dc2cb788efef382d4b568744fcc5f620821fe66ad62e71&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;f2c38952b627bdcc270c1ba182cec94b61648a283a6864bc4b9d6a13ec6ac7c3&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;17d4e9eefb96f3599d2fe2f2b5251dde8875b48617a3df81d25ccbc8f36a33ce&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-11-02 03:37:30&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-02 03:37:38&quot;, &quot;record_count&quot;: 1704, &quot;records_hash&quot;: &quot;7f93a23dbbf9a78fe4548d27ed5a1b14674f7a40f50dfee571a2e368669f3611&quot;, &quot;snapshot_id&quot;: &quot;cbc9b6af0e52b6d385c9e84206fd8a0591685535690516eadb36425de4f37e9d&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;f2b2c6e64593acff99457b99d6cad3e25a956e58aca40d08502d18eb3a464611&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;51610c5c2af7a5dc408e026226b3808c8897b7ec8fbd8599e74677f511f062e6&quot;, &quot;c277f92eea524d1b6dfdb4d3ca3f6b2c87fe797b646e4431d07137cd7aa399a2&quot;, &quot;baa2714d60ef98ea8b2979520f4c3b13b9cc36c46e7b2b4b8dd80bbed0063d6d&quot;, &quot;7e9d0a5379c803eab276243573f39597e2ce0df8520e1f62be77565548aed06b&quot;, &quot;aa483b95cfc8c3cf8afdffe6e334154e8f649cd33967fbb42569281da93ba9de&quot;, &quot;b41a40c0b6c2940d9ca79b54b4e52e6ebbce0fdf6d8e5cba88653680c22b56b0&quot;, &quot;a730fe1ec1d37d1d9c668e25260039d22b89881c730c54c17241dad3d0efb9bd&quot;, &quot;a78d9c7eac68abacaf916b34ba2b45d17f9983425d097a26de6f788aee0287b8&quot;, &quot;f3d6fdca26b0472c586de574868ae334a1f377ab6cbd77d2b57b854c094651f3&quot;, &quot;e0b7f4c31135967610f50ae25a14c29d023a5474872f1262e05297b0867844be&quot;, &quot;e97d91e2699b3cfca90dfcf7b3260c2f110c2b7a11cc94dfa10edac6d7694692&quot;, &quot;04e5a76b11ba5af1dbf9038ccbc62037c7a86f29c6369defa202a60ec8eb06b7&quot;, &quot;c1d0fa91fcc3455d13b88d772f213f10c3419ef9d08ab4e568922850a2fe349a&quot;, &quot;821f253c96226c07f0dbadeafded40bd91a0e8ff9111207f92ed9238afac1c25&quot;, &quot;ed62447a7196669ce0bca8b1aa7e1ae4bedf0e5719262f2f797f665ec1fafb47&quot;, &quot;ed197cc63087aeb43d420a69c3c1c4420baf5c3790fe5140c39537fd22fc8909&quot;, &quot;25613b434496599cc81f40f9d60c5832c109840f2dcbf596d837eb876424e231&quot;, &quot;a5d04ee47cd75efeb318082656b5b667ae5cc23bf64cdf5f325cee86c0d20168&quot;, &quot;530234d5b6f4fb45de517761355229c5f1c3c16a3121d0ad1634caf263b7bc47&quot;, &quot;7174cbada34dedd52d919b7c335e3117a2af3a573901635031fc6a1678f26be8&quot;, &quot;43f0b192785e466d472981a43c704d112e87fa6b39b40a1fe8e3c236525a940f&quot;, &quot;d26c544c1637b267e90a0c546182dd53304e28e0053ff85a19beda356ca9e2ce&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-11-02 03:37:39&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-02 03:37:41&quot;, &quot;record_count&quot;: 776, &quot;records_hash&quot;: &quot;10a012ce2bdbfe628f6bdb8591d327dce087ff8772c8d7e022237fdd9dd6dd3a&quot;, &quot;snapshot_id&quot;: &quot;06027bdde128e5eb6c8e561395bdee2865bd52ef3b579a6738743250da297eee&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;2e5f1cc35caebc8962cb0c6be2b63c157706aaba380546a67511071bd50c1f87&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;65ba256990d9cd58e46a36d65ca3c7f0aa5ed09d963e9935fb0f218d331134a7&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-11-02 03:37:30&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-02 03:37:37&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;74de74b9c8b4172c6dc17d096b4ad83441897cd6cee4154be0b9ecc04193cc1d&quot;, &quot;snapshot_id&quot;: &quot;b1fb99d73033590c09354b0e6c1483bfa139307a38155e24e8eb05e4efde1a4f&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;03af01a442307d0157cca4c75ebc7d9fb9ca491733f66dd9924039563345d857&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;f909f722cf952d5f85cfccd0375f64df61e355250d890efcd20602392e11ef9a&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-11-02 03:37:30&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-02 03:37:36&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;9b4e1b4127fdf1378984268b0181d2c3da63f7c1810f4190c8ae7fd8008c094e&quot;, &quot;snapshot_id&quot;: &quot;62c0137edd341e1ec877773de438fb3b81c3c8e7d5f6b07f973237880a8e82ef&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>debt maturities</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>424B2</td><td>2026-10-29 11:33:58</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …lents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30, 2026, respectively. Equity and oth… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30,… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …minations, see “Description of the Notes—Interest Rate on the Floating Rate Notes.” S-10 Table of Contents USE OF PROCEEDS The net proceeds from the sale of the notes will be used for general corporate purposes, which may include, among other things, funding for working capital, capital expenditures, repurchases of our capital stock, acquisitions and repayment of our existing debt. S-11 Table of Contents CAPITALIZATION The following sets forth our capitalization on a consolidated basis as of September 30, 2026 . We have presented our capitalization on both an actual and an… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526437008/d150456d424b2.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-11-02 21:33:59</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">6</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">2</td><td>2026-11-02 03:39:54</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-11-02 06:30:01</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">99</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 03:37:38</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">13</td><td>2026-11-02 23:27:39</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">24</td><td>2026-11-02 23:16:45</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4928</td><td>2026-11-02 03:39:54</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 03:37:27</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">142866</td><td>2026-11-02 03:37:26</td><td>—</td><td>partial: 6 symbols failed: 2308.TW: Price snapshot omits 3 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously reta</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">131</td><td>2026-11-02 21:41:50</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 23:07:01</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 03:37:27</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">452</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">671</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1704</td><td>2026-11-02 03:37:27</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">776</td><td>2026-11-02 03:37:27</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-11-02 03:37:27</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-11-02 03:37:27</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 03:37:41</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-11-02 06:10:05</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-11-02 03:37:27</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-11-02 03:37:26</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-11-03T06:10:17Z",
      "id": "urn:prexel:issue:20145af7-8711-54d3-a529-d72df1ea457a",
      "summary": "Prexel daily — period ending 2026-11-02. 51 charts: 31 with a read, 20 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 63 (daily)",
      "url": "https://prexel.xyz/issues/2026-11-02-daily-fa726bcf7c44.html"
    },
    {
      "_prexel": {
        "content_hash": "ad496d693aab3a895bfabd0a6ab8f8435cfad187b254e8a79e7d8c64775d674c",
        "context_hash": "dbf3fab3c50fc589089185b8195404de4b550af523cd86b6e99c07db9a7b959e",
        "kind": "daily",
        "period_end": "2026-11-01"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 62 (daily)</h1>\n<p>Period: 2026-11-01 → 2026-11-01</p>\n<p>Context hash: <code>dbf3fab3c50fc589089185b8195404de4b550af523cd86b6e99c07db9a7b959e</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>CLO BBB vs AAA tranches: ▼ Bearish — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Evidence revised; cause unclassified. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence revised; cause unclassified. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Implied OpenAI valuation: ▲ Bullish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▲ Bullish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Inference demand — OpenRouter: ◆ Mixed — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>N. Virginia power basis: ◆ Mixed — Northern Virginia data-centre power economics (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ◆ Mixed — PJM real-time power-price premium over day-ahead (Near term); Evidence eligibility changed. Published 2026-11-01T03:20:31.486745+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-11-01T03:20:31.486745+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 26 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 31 usable / 20 no read — 10 bullish, 12 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 7</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>2 confirmed fact(s), 4 awaiting review, and 1 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment; MICROSOFT — Capex commitment; MICROSOFT — Debt refinancing maturity; MICROSOFT — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ◆ Mixed</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:03+00:00</li>\n<li>interpretation: Up 0.6% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 0.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.5755250173299142, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 0.5755250173299142, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3635219914, &#x27;total_tokens&#x27;: 256541986272342}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:04+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.39pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.38982865162705593, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.68961718658353, &#x27;top10_share_change_14d_pp&#x27;: -0.38982865162705593}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:04+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 11 cuts, 8 raises.; Fixed-basket price at prior-day token weights: $0.613/Mtok.; Seven-day like-for-like change: -1.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.1128175052443678, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 344, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6128935840330296, &#x27;like_for_like_change_7d_pct&#x27;: -1.1128175052443678, &#x27;price_cut_model_count&#x27;: 11, &#x27;price_raise_model_count&#x27;: 8}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:04+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -13.06%.; Token-weighted effective price: $0.599/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.063613980046929, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -13.063613980046929, &#x27;effective_price_usd_mtok&#x27;: 0.5988151446614469, &#x27;matched_model_count&#x27;: 342, &#x27;total_standard_tokens&#x27;: 184592509813948, &#x27;unmatched_token_share&#x27;: 3.5019080764958286}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-31 07:51:17+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +154.4%.; Trailing three complete months: 152 new listings (50.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 154.3933054393305, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 154.3933054393305, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 152, &#x27;trailing_3mo_rate&#x27;: 50.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:04+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: -0.93pp.; Open-weights share of routed standard tokens: 72.2%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.9280242828035057, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -0.6815733378669506, &#x27;chinese_lab_token_share&#x27;: 70.07138523928366, &#x27;matched_model_count&#x27;: 342, &#x27;openweights_share_change_14d_pp&#x27;: -0.9280242828035057, &#x27;openweights_token_share&#x27;: 72.17808047956991}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:10+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $49.05/MWh vs prior 14-day $46.32/MWh (+5.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.908488301670058, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 49.052998571428574, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 46.31639952380952, &#x27;caiso_da_trend_pct&#x27;: 5.908488301670058}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:10+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 17.99 MMBtu/MWh vs prior 14-day 14.98 (+20.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 20.096964119844447, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 17.993818946779875, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.982742551946517, &#x27;caiso_heat_rate_trend_pct&#x27;: 20.096964119844447, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 01:31:59+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +1.26% vs control mean +4.83% (gap -3.57pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -3.5712727452635047, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 0.15614633603570688, &#x27;dc_load_premium_pp&#x27;: -3.5712727452635047, &#x27;erco_load_yoy_7d_pct&#x27;: 9.499910101643241, &#x27;pjm_load_yoy_7d_pct&#x27;: 1.2567554735759696}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:07+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +7.42% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.424833497095297, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 7.424833497095297, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ◆ Mixed</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:10+00:00</li>\n<li>interpretation: Dominion-zone congestion is not unusually elevated.</li>\n<li>evidence: Dominion versus Western Hub basis z=-0.473</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The basis z-score falls below the registered congestion threshold.</li>\n<li>data quality: descriptive z not calibrated; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 55, &#x27;dc_basis_z&#x27;: -0.47262070402972284, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Down 14.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.76%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.757922474080786, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.757922474080786, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, 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&#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 47.80733173167825}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: PJM load z-score is withheld: the 28-day weekday baseline has at most four observations.</li>\n<li>reasons: weekday-baseline rule withheld: four observations cannot support this statistical read</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-11-01 03:17:10+00:00</li>\n<li>interpretation: The real-time minus day-ahead power-price spread is not unusually elevated.</li>\n<li>evidence: Seven-day DA/RT spread bias z=0.087</li>\n<li>conflicting evidence: A price spread does not measure a load forecast error; supply outages, congestion and fuel costs can also change it.</li>\n<li>What would change this call: The spread-bias z-score falls below the registered threshold.</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; source records not yet linked; weekly mean scaled by daily spread std</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 43, &#x27;current_window_days&#x27;: 7, &#x27;current_window_min_observations&#x27;: 3, &#x27;current_window_n&#x27;: 5, &#x27;da_rt_spread_bias&#x27;: 14.937034666666666, &#x27;da_rt_spread_bias_z&#x27;: 0.08684278827057876, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ◆ Mixed</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and holding steady.</li>\n<li>evidence: CBRE H1 2026 Figure 5 quotes $190-$235/kW/month for 250-500 kW requirements. Calculated midpoint: (190+235)/2 = 212.5, unchanged from the cited Q1 range. The chapter states overall rents held steady; larger deployment tiers are not substituted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;unchanged&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: 212.5, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: 1,016 MW added year over year and rising.</li>\n<li>evidence: CBRE H1 2026 overview Figure 1 (Wholesale Primary Market Fundamentals), Northern Virginia row, Inventory Y-o-Y Change (MW): +1,016.4. This is the annual inventory addition ending 30 June 2026, not the 467.6 MW half-year net absorption or the chapter’s 18-month delivery total. The table reports inventory of 4,496.5 MW; its embedded publisher figure is https://e.infogram.com/69f04b2e-aa60-4094-9cc1-caeb3cb6cf28. No prior annual-addition comparator is asserted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1016.4}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Up 3.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.6932168630478657, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.6932168630478657, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;c6628676aa56ecb5e9c269fc8c45b0561f2d69b4b954afc156ebccacd84088fb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b9bbb59a9ff1990f8bf50f187c2cf6830264be0ef70b18d98e9a6f5bc3aa4442&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5f1008ea4c793fd928c0c4deaefb35d497321a0ae390dc27fffb8898b7a07f0d&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;e9bd61f7ed9a0fda8d6d89cf50df01562a1cd3e2acbf0cd7772aa7726920c150&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dc2c75dce5a8a7f9fc651ffff1e06eaee3e272a6916b0514a689e00e37d971ca&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f32e5f97c0b4a40d3ad0a508e592ec3b5c868f76c83f3cd5f60bfb931877e0c8&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;51e1a25976055cb6a9e4668ee8be360256fd6ba1d977ac2d2fe759f430425b02&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;2e80dc53419df5cb9ff1ac4ddc1ee68211dde91f8819f7b3fa146acf8e63c5a2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ea5ead4a81340a0a6f119f2aff24293e10f9e9ef4ba2571757992023ef36abc1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c13e9ea2f224405c7e39a75144bba59f4aed7ec5c58870ec1762ad349d9881e2&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:de4a712692b0d9bd80ba0744f90bdad8f1657799ce16b20d737006b794ebe25f:0b70c879cf4c82098c424efa80f6b533bc9946965e24931fa776f6fffa05b93b&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:c9e07ab5a6073cce72fe7cbed6d879d7c68d135ef2b114ac4acb5c06f9adafb1:1bf67429048aefe64ac071e587ca792425cd3704c2f05c28c9f4c71f3c8020e2&#x27;, &#x27;aib_bronze.equity_ohlcv:cbba82dba98b07f9cddfae6412b59a4ac337d3a2d541c3b03d946a9d5f793a1e:55fbaaaeddd7874b8dd500cb921f9789b1682ea4995c2e3ad6863126e6b7dc97&#x27;, &#x27;aib_bronze.equity_ohlcv:de4a712692b0d9bd80ba0744f90bdad8f1657799ce16b20d737006b794ebe25f:0b70c879cf4c82098c424efa80f6b533bc9946965e24931fa776f6fffa05b93b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 114.12808125122342}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.24% and falling.</li>\n<li>evidence: CBRE H1 2026 Northern Virginia chapter states that vacancy fell to 0.24%. Period ends 30 June 2026; this is a dated vacancy snapshot. No precise prior vacancy is supplied in this chapter.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.24}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Down 6.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.855307804740784, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -6.855307804740784, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;AMZN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;38078028243670089349eb764634982970e382d0bf3f27557881faf0b6fc088c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0eb5018204d2ed63ca0218a72cdea8752b7026b5eedd67fa9912fa5cd29e4c38&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a3424f2ecdb9db299a660f25ae68be99c479c67dfebaae2b98bccd6ed5ebc976&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, &#x27;GOOGL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;e33fec7510af668eacfaf1889a43d71a19c11da298585caa476e8f5dbb5718f9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f33213fabcd19a3739ab2987167aa66143350bf655237f1f3258aaec7bd41c22&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;69fcc6c584c450e047003904d4201fbb4b458f4a7710f1c8232a4b9d99852c85&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;51e1a25976055cb6a9e4668ee8be360256fd6ba1d977ac2d2fe759f430425b02&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;META.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;ac4b4388a71d382f135712405c1a6a02bf414089ef9b51e67b5a1ffeed3d837a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c229652129b925728ee9e1ef654dea70875c8eb122855ca5b9a0a0d7949d8633&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b9bdef51cc22296eef00365918b39447911c143211f67be77025f60780e52b8e&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, &#x27;MSFT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;feec17a098cdfe11ad4f952da4f7a6fbbaa6c38e076b799934d20cab4640d40c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;eeb741ec91b0778c5b4c5ed34365beb039af6e85bcef9e2814922dcd12f1e06f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;74d49872ae6f600c543d9efbb91594fe3b412c51b6a760748321cdf615bed28c&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, &#x27;ORCL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;b591145d0fd1cd009b6c54ce9ac2ff59b725c6d086e89410064209a13fade445&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;54e6753b648c6a12d348a523f83556e54b59c379783ea14983b39b877c97ac59&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;22e14b1cca467045b45dc8a09a0a92d6a0bd8605b34148f96a174351a2cb0dc3&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;MSFT.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;AMZN.US&#x27;, &#x27;META.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3d555a0ba10b1ddb90dc0af07c2f6c3e716d1bd3ee37c150233dd1888460a1bb:b673e508c86777aeae813ac04ed6337b876482c83df3e40f7d78caee2f068e04&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:22d2948c8757d9a3724c54e04b7ee83eb75beea626b4976d17173c1a4dff1c35:17d9854eba5cc1c8122e3d883846586e90e074a7ccda6aab1c79ab191d007766&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Down 34.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -34.45%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -34.44909877007686, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Down 2.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.3552218273808045, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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14.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.56%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.562472948621629, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.562472948621629, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;aib_bronze.equity_ohlcv:b3d8c57c93639a8c14f67a3a7ca25dde3e43669430122adc49712c6f2ac05b9f:b7d38deea104e52c7b0c447b10d6963133b18bb755b9698138cbcfa85915bdf7&#x27;, &#x27;aib_bronze.equity_ohlcv:dc38438739191a27805f0b328725ae6333027f40fabc9e9e3f9005c11271edd7:a97acce157faee8801362f5d4c57ddeae597e3c9fc08fa7cb067aa74f68c9193&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 120.93701460165983}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ▼ Bearish</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.2672929712615577, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.2672929712615577, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;JAAA.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;c59b79c8e3ce5a9920447f9958b77b44583449c8480644636040d7e3ccb8d911&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fa24b0d31f8e4532e31efc27b81b8b63adf6b39fa47893e95a11e59785dd6970&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;630ecc666daaec8ae579ac3fc03f857a1dea562f52c4e52744a1fd2bdf11f140&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;6f369f5d183ee96a311da531e0191b3064a33faece6a2193bb59906587aa07d7&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;905e300e7a2f77f8b069b7cf7067db05454cf33f96cd79e3b66f8a3e7e5e94ae&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e69fe9ec68c1ccaac33f9a0cb086a78122e54445eabb47403b6b12e878a000fe&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 06:56:57.998000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4c2e897ecdcce6198d21a39960fc0dd7e0dddd02702481624567bc79f9cbec5c:366f3677ae8018a16fd7a5fadfa3256c61b9a7c68fc33f49c40db79d80d09da7&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:98b75ebf48dbae49c494f2a7f7aaba5bfb583538fbf5e1d8e0183afad93b7bdd:51a70d1c56661fcdf87a05907c5aee09c5a3272fd7fd4ef4f58f8051556feab8&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c92988c2a84a05279449123ef890323278c6e71b566724fc131e90460e6ea50b:f1d0650e37464f62097461cbae1057b7928c6ae24cdb6efbf9bafa35be299857&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e99b3f38c98b83eab842e0b82f3a6bb72c46354822e2a02650d9d3aa6cec57e8:c635c1fa1e0274a613da5c34a241946b6486494805c1794eaf0fad5ca2db42e6&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:e333bb5b766767f28593891bbcd36b03e286d466a478070e926d97c3936d6688&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:dcafd79d9d1ad69406d2d9337f37fac1bb97054fc27c26a9fe8a471f418c7b3e&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:dcafd79d9d1ad69406d2d9337f37fac1bb97054fc27c26a9fe8a471f418c7b3e&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:e333bb5b766767f28593891bbcd36b03e286d466a478070e926d97c3936d6688&#x27;, &#x27;aib_bronze.equity_ohlcv:4c2e897ecdcce6198d21a39960fc0dd7e0dddd02702481624567bc79f9cbec5c:366f3677ae8018a16fd7a5fadfa3256c61b9a7c68fc33f49c40db79d80d09da7&#x27;, &#x27;aib_bronze.equity_ohlcv:98b75ebf48dbae49c494f2a7f7aaba5bfb583538fbf5e1d8e0183afad93b7bdd:51a70d1c56661fcdf87a05907c5aee09c5a3272fd7fd4ef4f58f8051556feab8&#x27;, &#x27;aib_bronze.equity_ohlcv:c92988c2a84a05279449123ef890323278c6e71b566724fc131e90460e6ea50b:f1d0650e37464f62097461cbae1057b7928c6ae24cdb6efbf9bafa35be299857&#x27;, &#x27;aib_bronze.equity_ohlcv:e99b3f38c98b83eab842e0b82f3a6bb72c46354822e2a02650d9d3aa6cec57e8:c635c1fa1e0274a613da5c34a241946b6486494805c1794eaf0fad5ca2db42e6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.24650810298445}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.290.; Two-year own-history percentile: 74.3.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 74.28571428571429, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.28985065510622654, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Down 1.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.712043402437391, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.712043402437391, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;39dec70ba8fe6aaf5213df46af962606da0b88336f345153bd1b1ca17ee93bcf&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7a051b9e4fda585f2336bd57a9ec76556f7068caaf2f43c008e0a7b336a2f72f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8956ecc4b61593b14c445d7336de6a1ff7cf5f0f2b2493980ed77adc9b2c027f&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:2a8d7aff4c9aaed9115da81b195629ed91eb20b3fcd9fc332c46758095b07a0c:009d6087b86421dc77ef698ac75bbd116b69cf428cb847a75d05ae3a71236543&#x27;, &#x27;aib_bronze.equity_ohlcv:4669c7114a6f4475b7599ff688a00cd0cffdb2cee8b1fdde998d4f6d9b20198d:6455245ddea9337f566d7085fedc66c36055c0ebe65ec3cfc6845931acfbfc09&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:7c40427d6a0c550607be84b9a2dacccc9a2c816c9c554c871ba7fe85866c76fe:8caf5cbdfd67d0f85ce60adf38699566c69f51052e4c0c47455f69968ab61145&#x27;, &#x27;aib_bronze.equity_ohlcv:b4039303967d2e5e886e2abc1b291be2251b5ec9b3bc477f5226df893e8e1d1d:721d6341cba1d7afeb59425d4d9b6485adf00cf6cccf4a037abbbf6b9104b8a1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.98875016911262}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Up 5.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.936144507127894, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 5.936144507127894, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;51e1a25976055cb6a9e4668ee8be360256fd6ba1d977ac2d2fe759f430425b02&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;4dc3476134f5804a7788047876f8f582302984de34bb58e33a8a27e4dcceb214&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;05e17ff541308ff0397fc8d0be517da3fd3d6b7371ebae2710e8ecd105d8b8ef&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8a4dfac20a7479c65317c4f5eb8f018cbc9573fb89f4c17f1c5a4cc630305822&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cb26e94bc65f643ae7d150ee1c2f64991f891bf5cb21419382684b751c305ecd:81dce0549626192cc0fe240f0fc864cc391185b8df691e6ea2dc8df81c43d49a&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5dc07125049f497adb4965a8c0c58ce0d5c4dd082d77bb366b6d494ff2261732:800e2a3c9c9f04b94c179c2737611f25ce181e82b2c4ede91961abc8c7d083a3&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:5dc07125049f497adb4965a8c0c58ce0d5c4dd082d77bb366b6d494ff2261732:800e2a3c9c9f04b94c179c2737611f25ce181e82b2c4ede91961abc8c7d083a3&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:cb26e94bc65f643ae7d150ee1c2f64991f891bf5cb21419382684b751c305ecd:81dce0549626192cc0fe240f0fc864cc391185b8df691e6ea2dc8df81c43d49a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.1243351103007}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Down 5.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.774765900802759, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -5.774765900802759, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;51e1a25976055cb6a9e4668ee8be360256fd6ba1d977ac2d2fe759f430425b02&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;484119ab73ac202628e4c1e3b5eca535674e20b1744c9242f09db67144b601f0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;baced75a72eaad662869c83860bf33c81229ca3fab609cabd52d8408e428f09d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ce6695b078a3520bcd43e30cfff9a5f9e45cc50403ae4cfd20ebf6b618c21f49&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 06:56:57.998000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10105bcd5e3d8ed38a3023064e0b2ade5db7a982e0b8aa0d3c46897495cd5b7d:ce4336e17a0f593bd5262ac21e8431438da8931cd7a1a818ea0e6f397c1c351f&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:10105bcd5e3d8ed38a3023064e0b2ade5db7a982e0b8aa0d3c46897495cd5b7d:ce4336e17a0f593bd5262ac21e8431438da8931cd7a1a818ea0e6f397c1c351f&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:ff306e540517eb5400e17117c6aa299f27650e9d60080d57af0853e93911930e:bd4ff94fabad3ffb87a56afd0e05aaf8d8de48edb6d237477fa9fd242fbc5977&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.49909248597868}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Up 11.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 11.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.154883658144099, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 11.154883658144099, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;51e1a25976055cb6a9e4668ee8be360256fd6ba1d977ac2d2fe759f430425b02&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;a23890f964962173f93eca2ff8e4ec0e5c526f7137f833bdf0a12c093819b438&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;35787f9483640b7f9b26893d4868e5653fa9533d3c78f192c73c7305541235a8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;855283e2286c47bccf6c3713fccc66a61b4bcc729ea92560bc0421fe4518da1f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d96fb1e635a3c5cae54602fa887e9f86c5e8b5fb100875a46da84216e3f2160f:9ecdcfc062bdfc8b9628c54ff74b76ebb7aa9702397738d86f28a6eab7034035&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:786cf11913df6307ebd743198970ba77f221b5d6361798c399cd82a20735d778:1fad76c3e1f88bc3ccfc16850a99ab57a88a33a06cbf853342b5100a01b63289&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:786cf11913df6307ebd743198970ba77f221b5d6361798c399cd82a20735d778:1fad76c3e1f88bc3ccfc16850a99ab57a88a33a06cbf853342b5100a01b63289&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:d96fb1e635a3c5cae54602fa887e9f86c5e8b5fb100875a46da84216e3f2160f:9ecdcfc062bdfc8b9628c54ff74b76ebb7aa9702397738d86f28a6eab7034035&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 95.74402364455193}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Front VIX at 0.94× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.935.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 195, &#x27;epoch_values_hash&#x27;: &#x27;a667d610103ed272c7e8334b0cc0da137d6771527b03cadb6b251f6795f3b009&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6d7e1f45f64dbbf73c548b82630972ff74968647e575c3e897e958eb946d7605&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 572, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6f927e31074d522148095c71b09a4c6671e2690503461a11e72c658a4b32e3e2&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 194, &#x27;epoch_values_hash&#x27;: &#x27;5db27f51d9eb8fb60d60be8611fec04c05d07f354546db1d88ba053cfeebe93f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;688877ede6a98aed85e2584f930c7f564b0d8fec7183c440f3868fa099147268&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 564, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;54440dda861b0c3577686770d1479a3b6ba35bc69980b6ff84e89992da92acf4&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 01:07:33.852000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a4267448a941c4f6752feb2de3498337cdeb27b1771cc6f4f9094c1ec670f619:6c1eb2ce224059ba8b75a92fd005704ba1f0b0a61eddcb936eaf4927b0c6ab3f&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:46bce1ffb56bb10671b260a9ab2a829a72676d8bbce22b551136c8761e62acee:abda5ab53b8960db1ecab2dc6b271420956a54e5aa92c6810cb0c8b9e0ebb5d8&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6132bd08584e3d7903f248fd4609cae6c14f0448ffe85dfcb62196263c7b524f:3dee72af4c433727232656847948e714a9ed82a10637d6f404b74eac8f3a74b3&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5d316f551980ea97f499f163503662083b4b7e65484aa7ce8b75429ded3656de:dec91bc69495a2a7a3745defd918144eef56ec412307c4b1f5157796a1660420&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:46bce1ffb56bb10671b260a9ab2a829a72676d8bbce22b551136c8761e62acee:abda5ab53b8960db1ecab2dc6b271420956a54e5aa92c6810cb0c8b9e0ebb5d8&#x27;, &#x27;aib_bronze.equity_ohlcv:5d316f551980ea97f499f163503662083b4b7e65484aa7ce8b75429ded3656de:dec91bc69495a2a7a3745defd918144eef56ec412307c4b1f5157796a1660420&#x27;, &#x27;aib_bronze.equity_ohlcv:6132bd08584e3d7903f248fd4609cae6c14f0448ffe85dfcb62196263c7b524f:3dee72af4c433727232656847948e714a9ed82a10637d6f404b74eac8f3a74b3&#x27;, &#x27;aib_bronze.equity_ohlcv:a4267448a941c4f6752feb2de3498337cdeb27b1771cc6f4f9094c1ec670f619:6c1eb2ce224059ba8b75a92fd005704ba1f0b0a61eddcb936eaf4927b0c6ab3f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.9345524542829644}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-11-01 03:19:02+00:00</li>\n<li>interpretation: Down 3.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.66%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.657283416478363, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -3.657283416478363, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;db6c8f7a25c258a271e63dcf79a6e76afc1a44ff65537ca2b95e7ee01bf43c4c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9f11269f6e36ac57ac2ce8cf8f9665812e3bf890efe725f0e2ba9811c0cc0f16&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3a7005ba77c8ba866f7320cb5405a2c22909437849766124397afdc8b6407740&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;50640e90ceda7a270c2972aedac75b6b1c62ea1d166fe60e95e372dccd39ae54&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fa5f8cda1ea218ddc55e699ab784d9768ab216e3633f2318b6a2a9200bf83c2d&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;5b5e9768a7e166c4f3eb56dcb0e7da5358568372d42fabd2114d68b7cb243923&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2f448db868bf395a381a74dc130ed01315cc97384b141af4e2f29f99a37fc2ed&#x27;, &#x27;requested_end&#x27;: &#x27;2026-11-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9510fdfd4c5b77f4b9cb34b91e56018b9e41e3d0331fa3fbdf26e04ab8c2fd2a&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-11-01 03:19:09.750000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7ceebf0f0f438c35f849b8fe1d4bcd673df70fb8fbb96508d98ca63336f859b7:33f65250280388e17b3ea6900aa9903c3f9f8df2f8961ad87ba3323c00a081c5&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:d49e019b4d9d19ae602810c44854981bacb02b19ff71587684a4e0d6d8473233:d8b3d95044f54ee1881190ac55de95ae85a1f3df036eb9969ffc10d0a8886623&#x27;, &#x27;aib_bronze.equity_ohlcv:d7046a88910d134d969e6ab26ed9d3ff0400e7569cde9e2972348f0384ddee27:bbb17a2ba430de58b1a06dcc1f91660f4ceb892c741e455f55b30428d3c2ed05&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.72663388685892}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: event-specific interpretation rules are not implemented; market probabilities remain descriptive</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-31 / 2026-10-31 19:31:34+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,016B (conditional on an IPO), +7.19% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $6,112.; Probability-weighted bucket midpoint: $1,016B.; Seven-day implied-cap change: +7.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.185737308622064, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0425, &#x27;full_set_prob_sum&#x27;: 0.992, &#x27;implied_cap_change_7d_pct&#x27;: 7.185737308622064, &#x27;implied_cap_usd_b&#x27;: 1016.1764705882352, &#x27;ipo_by_2026_prob&#x27;: 0.03, &#x27;no_ipo_by_2026_prob&#x27;: 0.9495, &#x27;volume_24h_total&#x27;: 6111.664323999999}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-31</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-31</td><td class=\"num\">106,936</td><td class=\"num\">24</td><td>—</td><td class=\"num\">13.62</td></tr>\n<tr><td>CISO</td><td>2026-10-31</td><td class=\"num\">560,492</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.3536</td></tr>\n<tr><td>ERCO</td><td>2026-10-31</td><td class=\"num\">1,247,519</td><td class=\"num\">24</td><td>—</td><td class=\"num\">16.42</td></tr>\n<tr><td>PJM</td><td>2026-10-31</td><td class=\"num\">1,953,925</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.8106</td></tr>\n<tr><td>SOCO</td><td>2026-10-31</td><td class=\"num\">530,669</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-0.8473</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">51.24</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">48.31</td><td class=\"num\">0</td><td class=\"num\">-2.93</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">50.86</td><td class=\"num\">0</td><td class=\"num\">-0.3796</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">46.87</td><td class=\"num\">0</td><td class=\"num\">4.95</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">41.92</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-10-31</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 1</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>296 benchmarked model identities; 210 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">58.4</td><td>$4 / $20</td><td class=\"num\">26,578,627,909,971</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">56.9</td><td>$10 / $50</td><td>≥ 2,236,937,365,701</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">54.5</td><td>$2 / $10</td><td class=\"num\">10,645,018,159,134</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">54.2</td><td>$2 / $10</td><td class=\"num\">10,100,180,686,183</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6.1 Terra (Max)</td><td class=\"num\">51.0</td><td>$1 / $5</td><td>≥ 546,084,032,603</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">50.4</td><td>$2 / $10</td><td>≥ 2,676,508,334,995</td></tr>\n<tr><td>Claude Fable 5.1 (Xhigh, Default Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 328,597,815,048</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 36 eligible configurations.</p>\n<p>Usage window: 2026-10-02 → 2026-10-31. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-11-01 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;e7d6435a6a1772ca3d67d707cef4dc4b117a1ddf8f4aed3c557a8867f4d4ce98&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;a9fa628e8de0b153e3991849796b98a8150498d18e7cc3243aa9fcb712ac3ba2&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;326cc93e0c0ec574469885cd608a9399f7b5a4a9ee06354bf56af9760af6e5c9&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-11-01 03:17:09&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-01 03:17:12&quot;, &quot;record_count&quot;: 1705, &quot;records_hash&quot;: &quot;667c2feaf639848b52d6ec4ad56ea09e8c918db08e6d9909072615b8ca75ba98&quot;, &quot;snapshot_id&quot;: &quot;0d66462e476d0f758bc812dd644b83372a6481034aad511b3006759dafb6f8d0&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;710392cc3f498f81c926bc5ead2cf712486447e258a581efcb00c18f0e09c760&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;1c204e436df872c9f9c2d917e04e4c52e701cbf6da117688ad26fb2df1d477ba&quot;, &quot;5dfb5443dd6c751c08b6b223a224734fc5f6e8878672c82ca9ef58996018cd49&quot;, &quot;f6c817b1a27f1e364d098ecf4fbdaca117b938d9cbaf019e5667d50b41a4ef02&quot;, &quot;727b09c57714664a119d51ec42dad8060ed6811cd4ac8b0c4c870b096450eb85&quot;, &quot;97d4900935407c491d31eae2e2ae796310fa0f163237a3a622a9ea33bc6006fb&quot;, &quot;af286ee202dc7630a7ec262c81f3e0cffd7616104766e0fe338d6b5f38e8a5b3&quot;, &quot;7b740380d2f370687cecadf730dd3e40899a18228599198008964904376593e3&quot;, &quot;fd6ba24d2443a184818058129c4ab3cb1af2e492b3dbaacc63d8459248433449&quot;, &quot;fa730470107a43b6d7179bff62da860a96d73d349d173e9de5973fcb90c3d018&quot;, &quot;60b5a072389db094c3992488175878744d8f24c63dfb9fd1a6f1d5df887306fe&quot;, &quot;ca8b4541eb882ef3367d87244f08a792ae8cf96f1523c0a788438581149d8301&quot;, &quot;5e32eeb2b76f0aca37f1da51a3fd13450ec0b70c2d87b7084120fbde8f8cca0d&quot;, &quot;127494b937a40dfc0ce82791b84d0071407bc592971ad3770158ffb2f09b5046&quot;, &quot;8df11c642b7a5c837e138936c61d9aa28037a0c15e9e769b87c5be789e6d7e87&quot;, &quot;dcee424cd2eb3c1aafd666e729c25cae7b9651f2f26e8de81b4211f23a5cd095&quot;, &quot;40de4ad02dbd3145f1871969e36d17073e93aec0c7ac7598768bbc35f781d5c4&quot;, &quot;7f8fdc278ab5494d75a65852f5dd91725fa9b155d5c613dedfca1e39d1e0903e&quot;, &quot;1944e74485a394ac50e4021c93e7107cfba0ad7000e9f17421d16fe0b2cafddf&quot;, &quot;56d15e4978439e21803f70c0534f2d6eb30e4af2d559941fdfd734038ee04d24&quot;, &quot;f30ba8ec110c9d2030fc95ae61b5fe565796e4bea46886e97225fcc2b42c27f3&quot;, &quot;9aa1ab00bf1567386d0e67172e648adbf2975bac9b9336ff215c540020498bc3&quot;, &quot;5ed628a51ee90e9891cc0e06090e1b3755ec501616e7fa317dcf6e36edfe2759&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-11-01 03:17:14&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-01 03:17:15&quot;, &quot;record_count&quot;: 777, &quot;records_hash&quot;: &quot;5dd5a55556ca71f39b7e188d34c640efa1f12fe35a98fd2b2e1a0a390799e9ed&quot;, &quot;snapshot_id&quot;: &quot;be9ccef18cc4d5c35ce5b546d97b755b1e3bbd15d462d899447df92d82fb1d96&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;755f4ef744d3f3763581c2b007bc40c3612c473ae20edcf9931e3693de2c0b55&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;6cf7429b944b39217ee51b6d8dd0ce71acc2f002df1e6409234c1d6377aae1c1&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-11-01 03:17:10&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-01 03:17:12&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;fd9ca3548168148a1eb91e8d6aa1fe27a7ebd364fc00a9f7579e5b332e64ed47&quot;, &quot;snapshot_id&quot;: &quot;7cbab2a80a4dc3f8f817092f2884c553ee0c7fb675d05e0e207881c00376c89f&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;0a2ec96d3efcb1f1f31adad5c2407ae5ac95410aac61cac6e4ae5e4226b20dc7&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;05a6129ef6ffc74b02c591cf6336b00bfaa252f88b1e1eb2ddccb9f17f0c766b&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-11-01 03:17:05&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-11-01 03:17:11&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;73d62543b7a728178762b093d9111b76c10b283f9c282be9bd974708fadd1b86&quot;, &quot;snapshot_id&quot;: &quot;d9f7aaad7af1122e1391d6acb98b2a96198ce18ad69142539367217c45f25014&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>debt maturities</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>424B2</td><td>2026-10-29 11:33:58</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …lents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30, 2026, respectively. Equity and oth… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30,… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …minations, see “Description of the Notes—Interest Rate on the Floating Rate Notes.” S-10 Table of Contents USE OF PROCEEDS The net proceeds from the sale of the notes will be used for general corporate purposes, which may include, among other things, funding for working capital, capital expenditures, repurchases of our capital stock, acquisitions and repayment of our existing debt. S-11 Table of Contents CAPITALIZATION The following sets forth our capitalization on a consolidated basis as of September 30, 2026 . We have presented our capitalization on both an actual and an… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526437008/d150456d424b2.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-11-01 21:22:57</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">6</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">158</td><td>2026-11-01 03:19:31</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-11-01 06:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">99</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">5</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-11-01 03:17:13</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">12</td><td>2026-11-01 23:19:52</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-11-01 23:09:03</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4914</td><td>2026-11-01 03:19:31</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">142859</td><td>2026-11-01 03:17:01</td><td>—</td><td>partial: 6 symbols failed: 2308.TW: Price snapshot omits 3 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously reta</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">163</td><td>2026-11-01 21:01:41</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-11-01 23:54:17</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">452</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">672</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1705</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">777</td><td>2026-11-01 03:17:02</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-11-01 03:17:02</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-11-01 03:17:02</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">2</td><td>2026-11-01 03:17:15</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-11-01 06:10:05</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-11-01 03:17:01</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-11-02T06:10:17Z",
      "id": "urn:prexel:issue:8ac2c5f3-2582-5a40-836a-5850c1767f67",
      "summary": "Prexel daily — period ending 2026-11-01. 51 charts: 31 with a read, 20 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 62 (daily)",
      "url": "https://prexel.xyz/issues/2026-11-01-daily-ad496d693aab.html"
    },
    {
      "_prexel": {
        "content_hash": "fb937f22775dfa9fce2970df7724a556db0431977d2e5137884296f8cad97000",
        "context_hash": "bc5b28d48b247ca46c8c6480b18be944512c35981c4384b63413570192fbbbe2",
        "kind": "daily",
        "period_end": "2026-10-31"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 61 (daily)</h1>\n<p>Period: 2026-10-31 → 2026-10-31</p>\n<p>Context hash: <code>bc5b28d48b247ca46c8c6480b18be944512c35981c4384b63413570192fbbbe2</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>CLO BBB vs AAA tranches: ▼ Bearish — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Implied OpenAI valuation: ⊘ No read — market-implied OpenAI IPO valuation (Near term); Evidence revised; cause unclassified. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▲ Bullish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Inference demand — OpenRouter: ◆ Mixed — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>N. Virginia power basis: ◆ Mixed — Northern Virginia data-centre power economics (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ◆ Mixed — PJM real-time power-price premium over day-ahead (Near term); Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-31T01:11:16.193536+00:00.</li>\n<li>CLO BBB vs AAA tranches: ▼ Bearish — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction. Published 2026-10-31T01:47:35.521204+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction. Published 2026-10-31T01:47:35.521204+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-31T01:47:35.521204+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-31T01:47:35.521204+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-10-31T01:47:35.521204+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-10-31T01:47:35.521204+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-31T01:47:35.521204+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-10-31T01:47:35.521204+00:00.</li>\n<li>Inference demand — OpenRouter: ◆ Mixed — OpenRouter public-app inference activity (Near term); Evidence revised; cause unclassified. Published 2026-10-31T02:19:04.821040+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence revised; cause unclassified. Published 2026-10-31T02:19:04.821040+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-10-31T03:01:39.062696+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-10-31T03:01:39.062696+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction. Published 2026-10-31T04:40:34.962858+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-31T07:32:18.464429+00:00.</li>\n<li>CLO BBB vs AAA tranches: ▼ Bearish — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction. Published 2026-10-31T07:32:18.464429+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-31T07:32:18.464429+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 26 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 30 usable / 21 no read — 9 bullish, 13 bearish, 8 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 7</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>2 confirmed fact(s), 4 awaiting review, and 1 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment; MICROSOFT — Capex commitment; MICROSOFT — Debt refinancing maturity; MICROSOFT — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ◆ Mixed</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:16+00:00</li>\n<li>interpretation: Up 1.5% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 1.54%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.5401865184185404, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 1.5401865184185404, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3637371070, &#x27;total_tokens&#x27;: 259347723873173}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:17+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.02pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.019421840561747672, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.87264732911751, &#x27;top10_share_change_14d_pp&#x27;: -0.019421840561747672}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:17+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 10 cuts, 8 raises.; Fixed-basket price at prior-day token weights: $0.633/Mtok.; Seven-day like-for-like change: -4.14%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.139639069634049, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 344, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6333943760925714, &#x27;like_for_like_change_7d_pct&#x27;: -4.139639069634049, &#x27;price_cut_model_count&#x27;: 10, &#x27;price_raise_model_count&#x27;: 8}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:17+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -14.98%.; Token-weighted effective price: $0.614/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.975709215739263, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -14.975709215739263, &#x27;effective_price_usd_mtok&#x27;: 0.6141156847097667, &#x27;matched_model_count&#x27;: 344, &#x27;total_standard_tokens&#x27;: 183382754046422, &#x27;unmatched_token_share&#x27;: 3.530401202943608}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-30 04:21:04+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +154.4%.; Trailing three complete months: 152 new listings (50.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 154.3933054393305, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 154.3933054393305, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 152, &#x27;trailing_3mo_rate&#x27;: 50.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:17+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: -1.83pp.; Open-weights share of routed standard tokens: 71.8%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -1.8344415231185138, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -1.562190434683643, &#x27;chinese_lab_token_share&#x27;: 69.7601450348106, &#x27;matched_model_count&#x27;: 344, &#x27;openweights_share_change_14d_pp&#x27;: -1.8344415231185138, &#x27;openweights_token_share&#x27;: 71.82414506883903}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:22+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $47.84/MWh vs prior 14-day $46.32/MWh (+3.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.2941448742396906, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 47.84184184523809, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 46.316121696428574, &#x27;caiso_da_trend_pct&#x27;: 3.2941448742396906}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:22+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 17.54 MMBtu/MWh vs prior 14-day 14.87 (+18.0%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 17.95545042549344, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 17.53906995653108, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.8692323188657, &#x27;caiso_heat_rate_trend_pct&#x27;: 17.95545042549344, &#x27;gas_print_max_lag_days&#x27;: 3}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 01:05:12+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +1.30% vs control mean +3.65% (gap -2.35pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -2.3492419434342424, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -0.46381328951604345, &#x27;dc_load_premium_pp&#x27;: -2.3492419434342424, &#x27;erco_load_yoy_7d_pct&#x27;: 7.765628002869898, &#x27;pjm_load_yoy_7d_pct&#x27;: 1.3016654132426848}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:22+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +7.31% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.311946176272056, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 7.311946176272056, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ◆ Mixed</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:22+00:00</li>\n<li>interpretation: Dominion-zone congestion is not unusually elevated.</li>\n<li>evidence: Dominion versus Western Hub basis z=-0.392</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The basis z-score falls below the registered congestion threshold.</li>\n<li>data quality: descriptive z not calibrated; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 54, &#x27;dc_basis_z&#x27;: -0.3924054271525056, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Down 14.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.76%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.757922474080786, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.757922474080786, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;d67d43146d3438a9f0d6911ba51515ba9bf4956a5347b81d0aa5c6b1430da951&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;68684bbb9ab2c704e4c66e90e047a461ccb55c14759becc9826b007ce97ae3ba&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a540322aeabe3c4628c7613585f1be68abc733d4d8ef6cd676b68f68e5af1e35&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, &#x27;CCJ.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;dd6143b7bef550a0439ea2f915c2fed6c5f86bf8978f04f81a8a7ce8c89a5344&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7d5c99bf2bdef6365604f1927894f4c2707a2eedc7fc770a2e7aa6836850270c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4c3997a04a3ad8da376ab122098afbe3505500b7cd91cb9eb33bf3bf4008a692&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8528679f7415fb1d18e7c1ec2d212d4b0e0b09db615b3b21978b6cbd737ff80d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;LEU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;ff377a0c6cad3f8d9eaeb6027d29215f4a368d99b5b341bfc438b13105ee8e78&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0d514ef5de74ff61d4f2988fa724145ab23650ccaf615d97c7d5b47291bdab1a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e5c0a005d966e67eac449c57d904af2b8944883f1fa07f92f0b2a3de2b1fe9f6&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, &#x27;OKLO.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;b1356f670a3377d049dec7b4cc8b9528b3470bf92259cf8487b622483586e6f1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;145229135eb0dda233f2df7f843d049694b1cd8c3cc2664360cbaee6818ac929&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e01470c1d69c87ffb47d6b63e19e6f0c302ab5296158fe065d8aed8ff0df8046&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, &#x27;URNM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;0028e54e143fef043cef7e16cd6401bfbe20178575666ad715e90f71fc47b67c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;048acd251eaf2e0612553d588b24d9a2e33d54d13ce81547af04067e5ddd5f67&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9481cb2b590bd8a7d87657cc2139f48851bee74be95ef85da3f9449eaacbdcde&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: 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&#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 47.80733173167825}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: PJM load z-score is withheld: the 28-day weekday baseline has at most four observations.</li>\n<li>reasons: weekday-baseline rule withheld: four observations cannot support this statistical read</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:51:22+00:00</li>\n<li>interpretation: The real-time minus day-ahead power-price spread is not unusually elevated.</li>\n<li>evidence: Seven-day DA/RT spread bias z=0.155</li>\n<li>conflicting evidence: A price spread does not measure a load forecast error; supply outages, congestion and fuel costs can also change it.</li>\n<li>What would change this call: The spread-bias z-score falls below the registered threshold.</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; source records not yet linked; weekly mean scaled by daily spread std</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 42, &#x27;current_window_days&#x27;: 7, &#x27;current_window_min_observations&#x27;: 3, &#x27;current_window_n&#x27;: 6, &#x27;da_rt_spread_bias&#x27;: 18.87005588194444, &#x27;da_rt_spread_bias_z&#x27;: 0.1551079501349399, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ◆ Mixed</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and holding steady.</li>\n<li>evidence: CBRE H1 2026 Figure 5 quotes $190-$235/kW/month for 250-500 kW requirements. Calculated midpoint: (190+235)/2 = 212.5, unchanged from the cited Q1 range. The chapter states overall rents held steady; larger deployment tiers are not substituted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;unchanged&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: 212.5, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: 1,016 MW added year over year and rising.</li>\n<li>evidence: CBRE H1 2026 overview Figure 1 (Wholesale Primary Market Fundamentals), Northern Virginia row, Inventory Y-o-Y Change (MW): +1,016.4. This is the annual inventory addition ending 30 June 2026, not the 467.6 MW half-year net absorption or the chapter’s 18-month delivery total. The table reports inventory of 4,496.5 MW; its embedded publisher figure is https://e.infogram.com/69f04b2e-aa60-4094-9cc1-caeb3cb6cf28. No prior annual-addition comparator is asserted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1016.4}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Up 3.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.6932168630478657, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.6932168630478657, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, 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&#x27;aib_bronze.equity_ohlcv:c9e07ab5a6073cce72fe7cbed6d879d7c68d135ef2b114ac4acb5c06f9adafb1:3b6e59f800ed50ae96e1c0da8fbca8e739460ecbd04a26c3928023ca27b43395&#x27;, &#x27;aib_bronze.equity_ohlcv:cbba82dba98b07f9cddfae6412b59a4ac337d3a2d541c3b03d946a9d5f793a1e:84dd389642dde356a55a83d29c71ee569406d762a6e7ad9a7de732f837c1568d&#x27;, &#x27;aib_bronze.equity_ohlcv:de4a712692b0d9bd80ba0744f90bdad8f1657799ce16b20d737006b794ebe25f:0b70c879cf4c82098c424efa80f6b533bc9946965e24931fa776f6fffa05b93b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 114.12808125122342}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.24% and falling.</li>\n<li>evidence: CBRE H1 2026 Northern Virginia chapter states that vacancy fell to 0.24%. Period ends 30 June 2026; this is a dated vacancy snapshot. No precise prior vacancy is supplied in this chapter.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.24}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Down 6.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.855307804740784, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -6.855307804740784, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Down 34.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -34.45%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -34.44909877007686, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Down 2.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.3552218273808045, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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14.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.56%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.562472948621629, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.562472948621629, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:dc38438739191a27805f0b328725ae6333027f40fabc9e9e3f9005c11271edd7:a97acce157faee8801362f5d4c57ddeae597e3c9fc08fa7cb067aa74f68c9193&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 120.93701460165983}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ▼ Bearish</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:4c2e897ecdcce6198d21a39960fc0dd7e0dddd02702481624567bc79f9cbec5c:366f3677ae8018a16fd7a5fadfa3256c61b9a7c68fc33f49c40db79d80d09da7&#x27;, &#x27;aib_bronze.equity_ohlcv:98b75ebf48dbae49c494f2a7f7aaba5bfb583538fbf5e1d8e0183afad93b7bdd:51a70d1c56661fcdf87a05907c5aee09c5a3272fd7fd4ef4f58f8051556feab8&#x27;, &#x27;aib_bronze.equity_ohlcv:c92988c2a84a05279449123ef890323278c6e71b566724fc131e90460e6ea50b:f1d0650e37464f62097461cbae1057b7928c6ae24cdb6efbf9bafa35be299857&#x27;, &#x27;aib_bronze.equity_ohlcv:e99b3f38c98b83eab842e0b82f3a6bb72c46354822e2a02650d9d3aa6cec57e8:c635c1fa1e0274a613da5c34a241946b6486494805c1794eaf0fad5ca2db42e6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.24650810298445}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.290.; Two-year own-history percentile: 74.3.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 74.28571428571429, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.2900101580274632, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Down 1.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.712043402437391, &#x27;window&#x27;: 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&#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;1b4844c107486d96808e2c78bf1be51faf426e23bbd137bf7cafbedf770641ae&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b93b643c2fd6e3bcb8dbf30c9ff6f960e35b53287943766dd251b4e1f6f96845&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6b7e064ba459ba17b781cf8c624166991ec0959b9682a5f4a1c82d276e398bfd&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: 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&#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b4039303967d2e5e886e2abc1b291be2251b5ec9b3bc477f5226df893e8e1d1d:97cbcc8b937d2614490d254289043c436c18bab712bebcce72ff2fbb63b0d0c8&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7c40427d6a0c550607be84b9a2dacccc9a2c816c9c554c871ba7fe85866c76fe:abf46e46fbe323c593e0a4ebc09871f4cb2a4d3fb821a6fb964281e87eaaa882&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:2a8d7aff4c9aaed9115da81b195629ed91eb20b3fcd9fc332c46758095b07a0c:009d6087b86421dc77ef698ac75bbd116b69cf428cb847a75d05ae3a71236543&#x27;, &#x27;aib_bronze.equity_ohlcv:4669c7114a6f4475b7599ff688a00cd0cffdb2cee8b1fdde998d4f6d9b20198d:6455245ddea9337f566d7085fedc66c36055c0ebe65ec3cfc6845931acfbfc09&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:7c40427d6a0c550607be84b9a2dacccc9a2c816c9c554c871ba7fe85866c76fe:abf46e46fbe323c593e0a4ebc09871f4cb2a4d3fb821a6fb964281e87eaaa882&#x27;, &#x27;aib_bronze.equity_ohlcv:b4039303967d2e5e886e2abc1b291be2251b5ec9b3bc477f5226df893e8e1d1d:97cbcc8b937d2614490d254289043c436c18bab712bebcce72ff2fbb63b0d0c8&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.98875016911262}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Up 5.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.936144507127894, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 5.936144507127894, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8528679f7415fb1d18e7c1ec2d212d4b0e0b09db615b3b21978b6cbd737ff80d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;4dc3476134f5804a7788047876f8f582302984de34bb58e33a8a27e4dcceb214&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;05e17ff541308ff0397fc8d0be517da3fd3d6b7371ebae2710e8ecd105d8b8ef&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;63cc4c6722b6166f068f48e144e2c274a49a2f76831bb8c3bbbbcd06d2077172&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 01:43:47.974000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cb26e94bc65f643ae7d150ee1c2f64991f891bf5cb21419382684b751c305ecd:81dce0549626192cc0fe240f0fc864cc391185b8df691e6ea2dc8df81c43d49a&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5dc07125049f497adb4965a8c0c58ce0d5c4dd082d77bb366b6d494ff2261732:753853d8ab5fae60a881fbeeb3f654d5640297bb9d00912603fac444a5f72dc6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:5dc07125049f497adb4965a8c0c58ce0d5c4dd082d77bb366b6d494ff2261732:753853d8ab5fae60a881fbeeb3f654d5640297bb9d00912603fac444a5f72dc6&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:cb26e94bc65f643ae7d150ee1c2f64991f891bf5cb21419382684b751c305ecd:81dce0549626192cc0fe240f0fc864cc391185b8df691e6ea2dc8df81c43d49a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.1243351103007}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Down 5.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.774765900802759, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -5.774765900802759, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: 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&#x27;history_values_hash&#x27;: &#x27;baced75a72eaad662869c83860bf33c81229ca3fab609cabd52d8408e428f09d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;11315ab1bcfe9786db41aeefe30156c0664748a71a0092f44eecc8b058c076dd&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 06:56:57.998000+00:00&#x27;, 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&#x27;aib_bronze.equity_ohlcv:ff306e540517eb5400e17117c6aa299f27650e9d60080d57af0853e93911930e:bd4ff94fabad3ffb87a56afd0e05aaf8d8de48edb6d237477fa9fd242fbc5977&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.49909248597868}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Up 11.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 11.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.154883658144099, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 11.154883658144099, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;abda1e89204c253695384fca590fca7b231f0116150ea1e14c3a624226a0333d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23b98c0e7c09be937ac84e23d79b07d29372a6389defef918cabf6bdd5f2f773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 01:43:47.974000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:527655276bce882ee9a05676e89c2523b9c0820eba9a7416793759605a7eddf4:fb8c29be09a9611773b7eea332c5d17b4ebece139edf822bbf16c4798a26b225&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c2864656273b5a458ca3bfdf1f3be8f7e272130026a75caf215a1bb0c8462c42&#x27;, &#x27;aib_bronze.equity_ohlcv:786cf11913df6307ebd743198970ba77f221b5d6361798c399cd82a20735d778:8e082ba3a2f4d7a351f577963bc333c0074945024b0b3d075abfe9942cee1937&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:d96fb1e635a3c5cae54602fa887e9f86c5e8b5fb100875a46da84216e3f2160f:9ecdcfc062bdfc8b9628c54ff74b76ebb7aa9702397738d86f28a6eab7034035&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 95.74402364455193}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Front VIX at 0.94× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.935.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 195, &#x27;epoch_values_hash&#x27;: &#x27;a667d610103ed272c7e8334b0cc0da137d6771527b03cadb6b251f6795f3b009&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6d7e1f45f64dbbf73c548b82630972ff74968647e575c3e897e958eb946d7605&#x27;, &#x27;requested_end&#x27;: 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<code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-30 / 2026-10-31 07:53:11+00:00</li>\n<li>interpretation: Down 3.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.66%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.657283416478363, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -3.657283416478363, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;db6c8f7a25c258a271e63dcf79a6e76afc1a44ff65537ca2b95e7ee01bf43c4c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9f11269f6e36ac57ac2ce8cf8f9665812e3bf890efe725f0e2ba9811c0cc0f16&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b5fff743f31261576c451246952285015d38ea7328b64193b9b1651e7119b64e&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;50640e90ceda7a270c2972aedac75b6b1c62ea1d166fe60e95e372dccd39ae54&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5fe700a8f57e97297f04cdf3c710fcc62d971609734eff727748141263e3a969&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;87a47412f863fbcc7caf7768fb90234e5a0dfd7c6e258c43d614bdbb4ceca034&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;1b4844c107486d96808e2c78bf1be51faf426e23bbd137bf7cafbedf770641ae&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b93b643c2fd6e3bcb8dbf30c9ff6f960e35b53287943766dd251b4e1f6f96845&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-31&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-30&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-31 01:43:47.974000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7ceebf0f0f438c35f849b8fe1d4bcd673df70fb8fbb96508d98ca63336f859b7:33f65250280388e17b3ea6900aa9903c3f9f8df2f8961ad87ba3323c00a081c5&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:d49e019b4d9d19ae602810c44854981bacb02b19ff71587684a4e0d6d8473233:d39e737581ade50f7a544788cdbaff4bb1871d3ccc694dcd3d0aa89a94df3a76&#x27;, &#x27;aib_bronze.equity_ohlcv:d7046a88910d134d969e6ab26ed9d3ff0400e7569cde9e2972348f0384ddee27:6c911c2b962c53dd73df648b62a4ae584c53e48857cf4b1786ffb2c6eecd0adf&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.72663388685892}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: event-specific interpretation rules are not implemented; market probabilities remain descriptive</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: the comparison market set is incomplete or unverified</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; the comparison market set is incomplete or unverified; prediction-market probabilities; thin market liquidity</li>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-30</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-30</td><td class=\"num\">112,489</td><td class=\"num\">24</td><td>—</td><td class=\"num\">12.65</td></tr>\n<tr><td>CISO</td><td>2026-10-30</td><td class=\"num\">610,851</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.3071</td></tr>\n<tr><td>ERCO</td><td>2026-10-30</td><td class=\"num\">1,257,620</td><td class=\"num\">24</td><td>—</td><td class=\"num\">13.17</td></tr>\n<tr><td>PJM</td><td>2026-10-30</td><td class=\"num\">2,067,330</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.243</td></tr>\n<tr><td>SOCO</td><td>2026-10-30</td><td class=\"num\">569,358</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-3.552</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">53.39</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">52.14</td><td class=\"num\">0</td><td class=\"num\">-1.249</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">53.45</td><td class=\"num\">0</td><td class=\"num\">0.05511</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">53.67</td><td class=\"num\">0</td><td class=\"num\">5.753</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">47.91</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>DOM</td><td class=\"num\">55.1</td><td class=\"num\">0</td><td class=\"num\">23.01</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>WESTERN HUB</td><td class=\"num\">32.09</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-10-30</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 1</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>296 benchmarked model identities; 210 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">58.4</td><td>$4 / $20</td><td class=\"num\">26,316,263,444,724</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">56.9</td><td>$10 / $50</td><td>≥ 2,644,515,277,740</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">54.5</td><td>$2 / $10</td><td class=\"num\">10,426,842,018,690</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">54.2</td><td>$2 / $10</td><td class=\"num\">10,032,199,772,111</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6.1 Terra (Max)</td><td class=\"num\">51.0</td><td>$1 / $5</td><td>≥ 473,139,478,770</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">50.4</td><td>$2 / $10</td><td>≥ 2,546,267,373,640</td></tr>\n<tr><td>Claude Fable 5.1 (Xhigh, Default Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 392,221,470,525</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 36 eligible configurations.</p>\n<p>Usage window: 2026-10-01 → 2026-10-30. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-31 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;8580ce4fe91ed9d7e63853e7d5850884cc1ae15cdd596ac9573878d3ff55bd9d&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;d6ece1f2da917099b335a13d1cfbc4552c15574d668ab80aa984f5d53d9fbc88&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;f58ace6609fe5670b3fad652b11d6e1cf62e4d5a06b6f6837bf25345c0add45f&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-31 07:35:21&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-31 07:35:27&quot;, &quot;record_count&quot;: 1704, &quot;records_hash&quot;: &quot;b0c707ad1101e7cb0766d027dba4dd429afb12780e4618d686eb1a4e2e6b9bef&quot;, &quot;snapshot_id&quot;: &quot;2eecfd11a9999d6b5f73dc193518823de253e529b2d1e1d748ddab333e7e11c6&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;cf37d923b51c45ead1ab4d29b21193f7e824aab58b2292083ad54c78f2df6b87&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;5b2e9d768b8ef1959bbaca6139bf5b00f39309e00616e6847136b6ecb21c782a&quot;, &quot;31f422117b4f694b16f04d81de0188e7e1cf67c246a106d1830cea2f495e95ef&quot;, &quot;408a4d41d58ecdca61bb139a12a8423a0d92002aa1b3ad47ea27db604cf971f5&quot;, &quot;a77ce1e8336bf19ba3a6c5d373948a6021359a50d8400ac61a8c3beb3591d653&quot;, &quot;1fe3b5a421e749a1d770920ef43daf7bf4ad1a079ea089ac99ff1a70da5d8547&quot;, &quot;55196450c0cf8e803d33754a33a8d0aadc81c61aa2b137740511b4c1138af4a1&quot;, &quot;9bf2116f47d53be5df40c1af89a74697794bdddd984e277590aa552e06183e88&quot;, &quot;5172dfffb25937f7b00abbe754a69dc41045e097660e9f8b36cf06dff4b46a47&quot;, &quot;f86f72eeac68f351af9c861914259b0795d0ee1ec6335869520417263157bacf&quot;, &quot;7887d9cbad18a8c9bc6289ad8060721c3052cfb65629c964e22105d39e6d386c&quot;, &quot;3111ab978da2e0da63fe1e85e8875406acd98747e33a00ac47a5eff7414b37da&quot;, &quot;a10794d181eb3d7617daff9283d6f9dbb47a03517bcd00864fb2e6b77c8a541c&quot;, &quot;b5a17f4b36abb69e78ef7a7ef9c3e4e101a61da6f3bfe014844bbb80693e6aa1&quot;, &quot;f4ccbd06ef1866fedd29ea1533a900d1ee83e88cdc81bad972536496ac630aac&quot;, &quot;5bf2f1490b09ad6202d8c2ffe729e6b3333773dd3f647623da41b2e2ce10b1e9&quot;, &quot;f9b29531ced2d710d96f547b5d152e350fb038254c9b4c4b071bc507e896a680&quot;, &quot;64e9b9edf700fb1d74706b193793bb91d0a8633b446ae21bbe5ce231d96b930f&quot;, &quot;a5bf4deca4ee89ff506414c9d606658456d786b4376ed75b3944c0d90efd862e&quot;, &quot;c7436eb0af53815d1fc32681c3f444312c54db0176696bfce938cb96ca5a810c&quot;, &quot;6b83a54846d19de6b02568b2681169307087a37571f60f14e5583937d9c67964&quot;, &quot;7195e01d3c254c181f4f64a7e84e0b5b9fe2e22b6bbad21d817b0aeb46e354e9&quot;, &quot;6bfcfa46272f0c16a02e7bb7de783b5c4e63817aae2c92e64cdca92321b40b9c&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-31 07:51:29&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-31 07:51:31&quot;, &quot;record_count&quot;: 787, &quot;records_hash&quot;: &quot;3d73718fe2543aa5894976f8edf441f79475b2cdaad9bc1fcec3ad28969de275&quot;, &quot;snapshot_id&quot;: &quot;85d67eec282b1e248d3c43f6ea38b0fad66be1851c7e179593d0959879684ad3&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;a24e13e51b8873c222cbf42aa52f0c3e1eb8e3734efa41e686253806449fc395&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;bcbe06d8aa0dbefdb440f59ee6971a54455f65356bb9dbce78604fcb1c947f1a&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-31 07:51:22&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-31 07:51:25&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;1d46ef1c39d1f616842265b2d26bfd5fd3912f2d22bc7f21ded200832fa6a973&quot;, &quot;snapshot_id&quot;: &quot;1e132f818ecec34876230b0b0015a1578f42dc3df3bb8e58d9407be541e94159&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;c69288ba086c49983cbfc3d6f83dc84654fd2b5dea2ef3d631ee2c8ff4c94423&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;1f6ff26969cc8b72d4ebfc87e1b20663f33ba82b92bdadc4a952b822ade61712&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-31 01:05:01&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-31 01:05:08&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;309df18b56a0886ba6c492932129e218f73bd78f9f80e1fdc3e9ddfcc0db6ed3&quot;, &quot;snapshot_id&quot;: &quot;cf97a03fdd8a487fd2f5347199a505981b1fdaeceda7d5a9102f6ed22e4ff9d9&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>debt maturities</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>424B2</td><td>2026-10-29 11:33:58</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …lents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30, 2026, respectively. Equity and oth… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30,… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …minations, see “Description of the Notes—Interest Rate on the Floating Rate Notes.” S-10 Table of Contents USE OF PROCEEDS The net proceeds from the sale of the notes will be used for general corporate purposes, which may include, among other things, funding for working capital, capital expenditures, repurchases of our capital stock, acquisitions and repayment of our existing debt. S-11 Table of Contents CAPITALIZATION The following sets forth our capitalization on a consolidated basis as of September 30, 2026 . We have presented our capitalization on both an actual and an… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526437008/d150456d424b2.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-31 19:31:34</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">6</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:53:39</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-31 06:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:25</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">10</td><td>2026-10-31 23:38:25</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-31 23:44:07</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4898</td><td>2026-10-31 07:53:39</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">142859</td><td>2026-10-31 07:51:14</td><td>—</td><td>partial: 6 symbols failed: 2308.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously reta</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">170</td><td>2026-10-31 20:31:35</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 23:55:20</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">456</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">670</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">787</td><td>2026-10-31 07:51:15</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-31 07:51:15</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:15</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:26</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-31 06:10:05</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-31 07:51:14</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-11-01T06:10:19Z",
      "id": "urn:prexel:issue:7f496dd8-b4e9-5a1b-b31f-ea667f9d250b",
      "summary": "Prexel daily — period ending 2026-10-31. 51 charts: 30 with a read, 21 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 61 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-31-daily-fb937f22775d.html"
    },
    {
      "_prexel": {
        "content_hash": "ce8004be286b588490f96ddb98e8741c12bc08afc3499e44c079d41639c688d9",
        "context_hash": "a8efc2f23f0a4b4b0208f5d18102ac3607ac96d0162f6053c8c43d576f3b9daa",
        "kind": "daily",
        "period_end": "2026-10-30"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 60 (daily)</h1>\n<p>Period: 2026-10-30 → 2026-10-30</p>\n<p>Context hash: <code>a8efc2f23f0a4b4b0208f5d18102ac3607ac96d0162f6053c8c43d576f3b9daa</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Implied OpenAI valuation: ⊘ No read — market-implied OpenAI IPO valuation (Near term); Evidence revised; cause unclassified. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▲ Bullish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>N. Virginia power basis: ◆ Mixed — Northern Virginia data-centre power economics (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ◆ Mixed — PJM real-time power-price premium over day-ahead (Near term); Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-30T04:24:50.817779+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 26 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 30 usable / 21 no read — 10 bullish, 12 bearish, 8 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 7</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>2 confirmed fact(s), 4 awaiting review, and 1 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment; MICROSOFT — Capex commitment; MICROSOFT — Debt refinancing maturity; MICROSOFT — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:03+00:00</li>\n<li>interpretation: Up 2.4% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 2.38%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.380200912117192, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 2.380200912117192, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3610466901, &#x27;total_tokens&#x27;: 259724529807029}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:04+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.13pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.1%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.13064397221407376, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.05885354064877, &#x27;top10_share_change_14d_pp&#x27;: 0.13064397221407376}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:04+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 12 cuts, 8 raises.; Fixed-basket price at prior-day token weights: $0.639/Mtok.; Seven-day like-for-like change: -5.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.005440751775458, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 345, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.638875031310887, &#x27;like_for_like_change_7d_pct&#x27;: -5.005440751775458, &#x27;price_cut_model_count&#x27;: 12, &#x27;price_raise_model_count&#x27;: 8}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:04+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -11.93%.; Token-weighted effective price: $0.633/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -11.933054198041715, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -11.933054198041715, &#x27;effective_price_usd_mtok&#x27;: 0.6332552559521732, &#x27;matched_model_count&#x27;: 345, &#x27;total_standard_tokens&#x27;: 179888925383182, &#x27;unmatched_token_share&#x27;: 3.635351687203082}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-29 04:18:06+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +154.4%.; Trailing three complete months: 152 new listings (50.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 154.3933054393305, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 154.3933054393305, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 152, &#x27;trailing_3mo_rate&#x27;: 50.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:04+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +9.82pp.; Open-weights share of routed standard tokens: 71.4%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-2.40pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 9.81821932952505, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -2.4004359462861657, &#x27;chinese_lab_token_share&#x27;: 69.11249129295167, &#x27;matched_model_count&#x27;: 345, &#x27;openweights_share_change_14d_pp&#x27;: 9.81821932952505, &#x27;openweights_token_share&#x27;: 71.4191561940725}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:05+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $46.62/MWh vs prior 14-day $46.85/MWh (-0.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.5059697037878629, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 46.61541886904762, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 46.85247821428572, &#x27;caiso_da_trend_pct&#x27;: -0.5059697037878629}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:05+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 17.08 MMBtu/MWh vs prior 14-day 14.92 (+14.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 14.43783569496246, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 17.078028953308813, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.923411343457088, &#x27;caiso_heat_rate_trend_pct&#x27;: 14.43783569496246, &#x27;gas_print_max_lag_days&#x27;: 2}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 00:56:45+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +1.21% vs control mean +2.77% (gap -1.56pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -1.561725268898661, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -0.08428368659745344, &#x27;dc_load_premium_pp&#x27;: -1.561725268898661, &#x27;erco_load_yoy_7d_pct&#x27;: 5.624121626466443, &#x27;pjm_load_yoy_7d_pct&#x27;: 1.2081937010358337}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:05+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +8.34% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.342540079448327, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 8.342540079448327, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ◆ Mixed</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:05+00:00</li>\n<li>interpretation: Dominion-zone congestion is not unusually elevated.</li>\n<li>evidence: Dominion versus Western Hub basis z=-0.307</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The basis z-score falls below the registered congestion threshold.</li>\n<li>data quality: descriptive z not calibrated; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 53, &#x27;dc_basis_z&#x27;: -0.3074720684381828, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Down 10.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -10.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.942260771984024, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -10.942260771984024, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;7d29af074c1c533e0e740a108a14256fd46a9e35708efe3a4f898efe056e0c82&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0c9516491be2824456c31c014e703759f9795cf0a63ca4168dfce7fe75c31af1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9db22d377a28a05fe4eb9fcc07bba3d6302a2b4a82ade509cb5d7fc77c98281c&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, &#x27;CCJ.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, 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&#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 50.04856455861278}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: PJM load z-score is withheld: the 28-day weekday baseline has at most four observations.</li>\n<li>reasons: weekday-baseline rule withheld: four observations cannot support this statistical read</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:21:05+00:00</li>\n<li>interpretation: The real-time minus day-ahead power-price spread is not unusually elevated.</li>\n<li>evidence: Seven-day DA/RT spread bias z=0.217</li>\n<li>conflicting evidence: A price spread does not measure a load forecast error; supply outages, congestion and fuel costs can also change it.</li>\n<li>What would change this call: The spread-bias z-score falls below the registered threshold.</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; source records not yet linked; weekly mean scaled by daily spread std</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 41, &#x27;current_window_days&#x27;: 7, &#x27;current_window_min_observations&#x27;: 3, &#x27;current_window_n&#x27;: 6, &#x27;da_rt_spread_bias&#x27;: 23.300114381944443, &#x27;da_rt_spread_bias_z&#x27;: 0.21736987030635052, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ◆ Mixed</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and holding steady.</li>\n<li>evidence: CBRE H1 2026 Figure 5 quotes $190-$235/kW/month for 250-500 kW requirements. Calculated midpoint: (190+235)/2 = 212.5, unchanged from the cited Q1 range. The chapter states overall rents held steady; larger deployment tiers are not substituted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;unchanged&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: 212.5, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: 1,016 MW added year over year and rising.</li>\n<li>evidence: CBRE H1 2026 overview Figure 1 (Wholesale Primary Market Fundamentals), Northern Virginia row, Inventory Y-o-Y Change (MW): +1,016.4. This is the annual inventory addition ending 30 June 2026, not the 467.6 MW half-year net absorption or the chapter’s 18-month delivery total. The table reports inventory of 4,496.5 MW; its embedded publisher figure is https://e.infogram.com/69f04b2e-aa60-4094-9cc1-caeb3cb6cf28. No prior annual-addition comparator is asserted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1016.4}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Up 3.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.31%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.3110426029325124, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.3110426029325124, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, 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&#x27;aib_bronze.equity_ohlcv:c849a67bdc5919ed2b2422634ba1595852819ed0e963ed62b4dc50d798b89ac1:a11791c1dab8fd2e2720a7956a1771c82d0f9c6727cd10770d407e5b146d8f9f&#x27;, &#x27;aib_bronze.equity_ohlcv:d570d74257c71a85a6b9bf66addf9b56be0f273d313c65ac1e68a08db0e5bf52:a7a4e9babf75a695f0f8859ac29b397e7e27360e927b37c8148afed06b3b4690&#x27;, &#x27;aib_bronze.equity_ohlcv:f19129ffd3566c36f4798c5e5e7ca0636558827218ae2cf2dfbed37e68c1fd80:9ac75a92c1fa6384b9aaf4655b8f43c3fc39a4d32412f86e06bc229b143a3f97&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 113.96257737141636}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.24% and falling.</li>\n<li>evidence: CBRE H1 2026 Northern Virginia chapter states that vacancy fell to 0.24%. Period ends 30 June 2026; this is a dated vacancy snapshot. No precise prior vacancy is supplied in this chapter.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.24}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Down 6.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.98%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.978347856059873, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -5.978347856059873, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ad3ee42031dd5acc3309819de9b4f38ab779bb368e6eb3f764999f4d6f6130b1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;META.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;0fbd9ccb6030fa8f0064640b986fe08f721d30a80103fdc4023e9c755b56d64e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2c63bdd18e6c73b0abab92f20d407ccf03ea0021fc247d736ed60fb3f54bdc4e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;75c6f18edbd77688c0cadc02de6a6ba47b9b615c73f435dabc42eec00bf88ac0&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Down 29.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -29.14%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -29.13520054467982, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Down 2.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.7724899556863414, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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&#x27;aib_bronze.equity_ohlcv:c10c9445596f63272de2421e351214508776fba69a21625abdeddab708f14b45:5c684ec0ea24744b43276d814fb013ca82622b9eab7fbe0cbe7a9c2ea37e6ca5&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 127.9525255721505}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Down 1.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.99%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:4bf914708dee75b930cbfa9e2f2ecac9c5f5db477b5a6d8d06760604e15d323f:ad925a99f39bdd49d59f40356a8c39705da9fbfa64dfca607b92d3d5fc69ce61&#x27;, &#x27;aib_bronze.equity_ohlcv:731e52a3baf7adf8b4af9d406b86cc6b863c2f3a1ab6dd12dc13de737f9e23c0:efa53f9d5eaff8408aaf626edd9657588a12ff93c3d675a7d00433c180025a04&#x27;, &#x27;aib_bronze.equity_ohlcv:9ab3bc2c1577acd8c16bfdb93b1856efb66da3d64d423797decacad75472e6ec:5ac6970f4e0675e0755d39ba41c58d86de435aec4002fa8ee67de8c741954688&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.64677693182975}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.275.; Two-year own-history percentile: 70.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 70.14314928425358, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.2751567542995996, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Down 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.44%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.4440527859601038, &#x27;window&#x27;: 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&#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-30 04:23:30.173000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1034f3e823934c4562b5aa240e742e9c7faea931e32d6046a0e7d2830f0381a8:9202e447db5f9d652ed6d33868c19af37271858cf30f4f96be7702b586076a04&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7905cff0321bb229f71f70d3a10574b7302046902be11e839717fb15e1fa3cc0:72521a1ccf0264c5666cb5b1a62eff4ac4ef77dea8f3084bbebdaa3dfe929a1c&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-29&#x27;, 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&#x27;aib_bronze.equity_ohlcv:7905cff0321bb229f71f70d3a10574b7302046902be11e839717fb15e1fa3cc0:72521a1ccf0264c5666cb5b1a62eff4ac4ef77dea8f3084bbebdaa3dfe929a1c&#x27;, &#x27;aib_bronze.equity_ohlcv:e52a1ac518ecfc17dceecec4e478919be032a584ed4c8b9c6816dbe77cc9ac0f:97e32b5c214e174bd459f411471b2a0bf2ee3e4f7dd127f85ec3757adbb36d4e&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.23535054197892}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Up 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.356929821218114, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 4.356929821218114, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;7a2cd028562996315825f91508cf1cb1114df3240ec6bcf713cc590c151f48da&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;185868c62fa3e5f5764390b9dca056e7a098a5b34979c93a9f225616e7c694e1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ad3ee42031dd5acc3309819de9b4f38ab779bb368e6eb3f764999f4d6f6130b1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;a3bec32f74a81cd5b9594be0fcd968a67a728af99b301e335c1e6ca99eb7c71a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;098b7f9597322d00af7f27ea80f20c33e1307d30a07a1d150db4beb00a470335&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;94cb897260ba317fd29a096f5277fd658064ea479f61298e43b74c4733eeaeda&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-29&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-30 04:23:30.173000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:37c8aa7ac6b4efe8f712d054e60015892eba399bb48c49475fada083e78046e9:6252a191562cab5c1abada109c8ce4f4edfc2d2f4e5c2e16f832b833dcbd8b36&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:37c8aa7ac6b4efe8f712d054e60015892eba399bb48c49475fada083e78046e9:6252a191562cab5c1abada109c8ce4f4edfc2d2f4e5c2e16f832b833dcbd8b36&#x27;, &#x27;aib_bronze.equity_ohlcv:668a8eef5f70063b1999e61580d123b1884b5b9f7b71d65f3876cc265e52007c:9fa0b0b057331fe16ea6d176f3c99909b9108890b8e28500c45379ab15438ae9&#x27;, &#x27;aib_bronze.equity_ohlcv:689124865bf3b8178116947462ea18d84beb577ba0f24244afa1517e3819a274:38675ca83cba81be8c718d7dfb30b5371291162b9815045fe07059f7759eb1ba&#x27;, &#x27;aib_bronze.equity_ohlcv:b1d44d71ac8df19c587470e3fe274aec79c9d15bf14b9679a3a3dd03ac187f36:93f3711098bad0a38f65f186ae4e778032a3461d05cac4e25ca56d7b0ace511b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.06277648703256}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Down 3.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.7098038631616426, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -3.7098038631616426, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;7a2cd028562996315825f91508cf1cb1114df3240ec6bcf713cc590c151f48da&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;185868c62fa3e5f5764390b9dca056e7a098a5b34979c93a9f225616e7c694e1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ad3ee42031dd5acc3309819de9b4f38ab779bb368e6eb3f764999f4d6f6130b1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;6838dcd9968671cdcf787099453b6ddb3fb636e533d2d1ed3e54c5b1c53806eb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: 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04:23:30.173000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:37c8aa7ac6b4efe8f712d054e60015892eba399bb48c49475fada083e78046e9:6252a191562cab5c1abada109c8ce4f4edfc2d2f4e5c2e16f832b833dcbd8b36&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f8bf377efcc037c3cbc327bfb497702d38b175908e5aee363364b898ffd428fc:de8b066a6b42a35b53eb339127a221785889ff22016c0158a0f36b38aafabb98&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b1d44d71ac8df19c587470e3fe274aec79c9d15bf14b9679a3a3dd03ac187f36:93f3711098bad0a38f65f186ae4e778032a3461d05cac4e25ca56d7b0ace511b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9c6f2bb8c89575e17521872f3fae94c46358df13bb1263445cc58ba3794cfa5:29902a6fc57380a627ccd68a51f97a6679d25ca531abfb8553017ee1ac592dc0&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:37c8aa7ac6b4efe8f712d054e60015892eba399bb48c49475fada083e78046e9:6252a191562cab5c1abada109c8ce4f4edfc2d2f4e5c2e16f832b833dcbd8b36&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:b1d44d71ac8df19c587470e3fe274aec79c9d15bf14b9679a3a3dd03ac187f36:93f3711098bad0a38f65f186ae4e778032a3461d05cac4e25ca56d7b0ace511b&#x27;, &#x27;aib_bronze.equity_ohlcv:f8bf377efcc037c3cbc327bfb497702d38b175908e5aee363364b898ffd428fc:de8b066a6b42a35b53eb339127a221785889ff22016c0158a0f36b38aafabb98&#x27;, &#x27;aib_bronze.equity_ohlcv:f9c6f2bb8c89575e17521872f3fae94c46358df13bb1263445cc58ba3794cfa5:29902a6fc57380a627ccd68a51f97a6679d25ca531abfb8553017ee1ac592dc0&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.227144127399}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Up 7.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 7.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.940378946015669, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 7.940378946015669, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;7a2cd028562996315825f91508cf1cb1114df3240ec6bcf713cc590c151f48da&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;185868c62fa3e5f5764390b9dca056e7a098a5b34979c93a9f225616e7c694e1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ad3ee42031dd5acc3309819de9b4f38ab779bb368e6eb3f764999f4d6f6130b1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;4dd0b6529da61df3f1b554530eae6e0adb71dbdaf851e6ff8e00ab264ad66ee9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2e44d51d4699d6a1d8524a51fd49051aca57d5d185cb622da437c1dc7394417a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8723e9c48ac47980dcd4ae00f38925175c3119b3f271627232d847bbd2f7a360&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-29&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-30 04:23:30.173000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:37c8aa7ac6b4efe8f712d054e60015892eba399bb48c49475fada083e78046e9:6252a191562cab5c1abada109c8ce4f4edfc2d2f4e5c2e16f832b833dcbd8b36&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c7350695149054c954f7b956e16a798d2a2dc8f197355b290beef2053b594e7b:1b4d04cac4ff66913040db3f29dc3c12bc57ab267a92398ca75cc87cd6832c26&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b1d44d71ac8df19c587470e3fe274aec79c9d15bf14b9679a3a3dd03ac187f36:93f3711098bad0a38f65f186ae4e778032a3461d05cac4e25ca56d7b0ace511b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:46934726bce4a5186f7517fba714123667ec3a13dac913e97db8c0350df40009:217a79f81630a47ab9277c73c885ff8c523bb8715cd0cf12b05ad8d4039afbcc&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:37c8aa7ac6b4efe8f712d054e60015892eba399bb48c49475fada083e78046e9:6252a191562cab5c1abada109c8ce4f4edfc2d2f4e5c2e16f832b833dcbd8b36&#x27;, &#x27;aib_bronze.equity_ohlcv:46934726bce4a5186f7517fba714123667ec3a13dac913e97db8c0350df40009:217a79f81630a47ab9277c73c885ff8c523bb8715cd0cf12b05ad8d4039afbcc&#x27;, &#x27;aib_bronze.equity_ohlcv:b1d44d71ac8df19c587470e3fe274aec79c9d15bf14b9679a3a3dd03ac187f36:93f3711098bad0a38f65f186ae4e778032a3461d05cac4e25ca56d7b0ace511b&#x27;, &#x27;aib_bronze.equity_ohlcv:c7350695149054c954f7b956e16a798d2a2dc8f197355b290beef2053b594e7b:1b4d04cac4ff66913040db3f29dc3c12bc57ab267a92398ca75cc87cd6832c26&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 93.37614986174506}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Front VIX at 0.89× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.888.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 194, &#x27;epoch_values_hash&#x27;: &#x27;4ad72113c84d3b0659030318174d0e3a97c571fb016cd20764602defd35b0193&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;68ab6798bba9c8d80bd50b4e321aedddc4db11467487008650fb294415acd961&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 571, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d4fed7ff8f61620581c2627a3fe799c992ecca08387591c18dd8ca86dfc4ed50&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 193, &#x27;epoch_values_hash&#x27;: &#x27;2e8da33ce9d5b5797010bd75047f963c1d08a00a62812789108e05678c0ecfce&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7ce1177178c8389df46a17f9f126204a6833b0a2d6c6d2b9279aa7726205e2d5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 563, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e5f567290d5a428a48270c42f4f992d0ddd370dddaa9439a1c2454f64bf38bba&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-29&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-30 04:23:30.173000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:358624e42702dbc05b0461a627388bf16acb24f50ae0c13611c713cc8ad6e0f5:00d3cb13dd8a28f9b0faa4de53fc89223613fb918f622a50c61d437a8b72bf70&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:358624e42702dbc05b0461a627388bf16acb24f50ae0c13611c713cc8ad6e0f5:00d3cb13dd8a28f9b0faa4de53fc89223613fb918f622a50c61d437a8b72bf70&#x27;, &#x27;aib_bronze.equity_ohlcv:93286e018785ff4c80bdf9752ec3d8559334d0af3c4ae2010cd73118c05dd3c5:06748dd60fe2b9b4f8f3838b45b59ddffbd840b4a0adc3aac5d0a45322e4151d&#x27;, &#x27;aib_bronze.equity_ohlcv:9ab438787d2be460f8b2ff475fb39d3e573f9402c70c7a4783a1800b26a70347:d568e6fecc177884e3d434b7746131f04f9978fae92ee71e7e51e5c53ca6a68e&#x27;, &#x27;aib_bronze.equity_ohlcv:dfb5938a21a654584e65399b0060c9786c1c34f80e8170ed4ccfd066f14b6b3f:95497b36325d028be1fb44e9e9e657a772d1e9d6e03f3c69d35a314d7a27f0b6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8879710893133711}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-29 / 2026-10-30 04:23:22+00:00</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.0426392341107444, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -3.0426392341107444, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;9d394e9f5fc86315b4d97ecc794c8aea01c7440816c2d9c41a0e0a2c6f8aef72&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6f5440521df1bcd1835c070999114653a55ddf50784eece4ecd7e49c768a9ca7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;523e8961142c867ab02338a8404fba42c93ce62fb1112c18faf2992b24dff83a&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;3f000f1fe11c818c5fa21ef0f330f89a750bff8915f5be2ecc4f5392d746faf5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8f0f2384c47ef5c06fd989247f6aee6e8bc0ac3e537b48ec248f81bef0e98c69&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7f08b7a18a08f8c31a2771b9a7c52e88983306042382e0e332bc1d98f525d880&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;fdfe4ce17034895d1164b1c36ad49b18f31d625387e3230c0cccc7b34736de8f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d208f9974a419a0f42b0287133a6857b6a0c2b494216d7404563336b453ed7e5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;08c77d7e0c818f5092fc48cdfef2866404d448897e12c4985027ac87d5b03e95&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;47eecb7df68b5c973e5d554d77a9d448e5214d38c375d72f47cd9c96d6265e32&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0ef4004cf5fe86303c9370117b724f92b3e70626a7d69aa686dba4f3e826e58f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-30&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e262a3fe19c568f0c1ba656d0652f003bfe5b382cc572d450e51bd65c53907ae&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-29&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-30 04:23:30.173000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3a64cc6ff9ddb8dfb3de36e8f00918a86ea2e67a445986d8cf5d0c263830c3bc:7b5f2b9124d9557559dd500920dc6e87e0cfbbd07eac095e1a0dfa9890017ce3&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-29&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:bc50fccefef0d10b12a28b9f0f5ea5b874acf1537f3de6a0fd087571df27f087:9ebadd3e3b5d5f57de8f3cc1027b23a6b9d305c95bbbe5471559476393c7e936&#x27;, &#x27;aib_bronze.equity_ohlcv:d2f2a2818b63e1e4469df977354c4d0db80aea254c5089d4052fcb28a5c25d95:ea5467a8023244ed1cf57765b81b071d8008f7f75354220a834978fc1bb2a4a6&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.49852031446187}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: event-specific interpretation rules are not implemented; market probabilities remain descriptive</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: the comparison market set is incomplete or unverified</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; the comparison market set is incomplete or unverified; prediction-market probabilities</li>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-29</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-29</td><td class=\"num\">109,105</td><td class=\"num\">24</td><td>—</td><td class=\"num\">4.375</td></tr>\n<tr><td>CISO</td><td>2026-10-29</td><td class=\"num\">615,399</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-1.408</td></tr>\n<tr><td>ERCO</td><td>2026-10-29</td><td class=\"num\">1,308,333</td><td class=\"num\">24</td><td>—</td><td class=\"num\">18.53</td></tr>\n<tr><td>PJM</td><td>2026-10-29</td><td class=\"num\">2,106,023</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.9529</td></tr>\n<tr><td>SOCO</td><td>2026-10-29</td><td class=\"num\">573,524</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-3.002</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">53.93</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">51.65</td><td class=\"num\">0</td><td class=\"num\">-2.282</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">53.35</td><td class=\"num\">0</td><td class=\"num\">-0.5823</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">73.23</td><td class=\"num\">0</td><td class=\"num\">6.597</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">66.63</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>DOM</td><td class=\"num\">71.66</td><td class=\"num\">0</td><td class=\"num\">1.956</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>WESTERN HUB</td><td class=\"num\">69.71</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-10-29</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 1</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>299 benchmarked model identities; 211 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">58.4</td><td>$4 / $20</td><td class=\"num\">25,762,394,164,942</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">56.9</td><td>$10 / $50</td><td>≥ 2,723,831,764,108</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">54.5</td><td>$2 / $10</td><td class=\"num\">9,996,681,198,349</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">54.2</td><td>$2 / $10</td><td class=\"num\">9,809,896,273,021</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6.1 Terra (Max)</td><td class=\"num\">51.0</td><td>$1 / $5</td><td>≥ 316,619,734,151</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">50.4</td><td>$2 / $10</td><td>≥ 2,264,096,677,957</td></tr>\n<tr><td>Claude Fable 5.1 (Xhigh, Default Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 459,003,300,007</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 36 eligible configurations.</p>\n<p>Usage window: 2026-09-30 → 2026-10-29. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-30 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;56d85b9da14e44788dcbc86f81711a0ea8d550dbc628827fa8849f8ead6ca953&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;bee48afe7a657b43bc2b13acb32efb058510f46d05b4775f30ce68fed7184bf1&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;c2704bc4a0485a50c0acf88823fd1f4d5309cdbbf7c5a2a5f65787a1727c2979&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-30 04:21:09&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-30 04:21:12&quot;, &quot;record_count&quot;: 1724, &quot;records_hash&quot;: &quot;4b102483f7b35710a4547aa88bae76152e2c4d60a4857fb6f5f3b108a2362952&quot;, &quot;snapshot_id&quot;: &quot;0505fdd9f662a737d0b9f564c387868b7f35310bab8ddbe513ff32e21c25f01b&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;e47e23ba15c3efd68d461982d5bad124aed4b60bc00e85408991e1901d92b6e1&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;8a8f282bf15a59b3005211619cfe69fc8f43cc53c3262889d4dda080ce4fc11d&quot;, &quot;749160a216e7c1c99e749021a88d3a0e14300a18fb968f7e5c0677364086960e&quot;, &quot;99f408262983f61e39bba51f76cc4a346b7048f9ff959079cba8b34ac7beab50&quot;, &quot;b647718ddeb5d39625cade1b8ae1188818086ef5710d6902414c39d9d871971a&quot;, &quot;8b70819d120e75785e6677a5777bd66998efada3e47ee47dd48bb6ef86daefd1&quot;, &quot;6b632b538191237987fc3560e2d0c74549fe95d2d9db66d3b870506c24304ee5&quot;, &quot;b1450b092a2ded367ca66c9305cc6c54af5c65e24e130065f2b6c8df8f64dfb3&quot;, &quot;475913ab7e4fffe4af265ab06aa8aa81527d7176ebb534b170cb5261a252fda5&quot;, &quot;e19bf6cd51ce7f984d9fb92f44c64766ec5cf8b4ac8f3cba02edad56f3c6a584&quot;, &quot;923ae46c997d9844e05accd4f38575674def79579511f20817d6cf6e9283a6d0&quot;, &quot;5cbb428f1da85cbb78a46476175a1394060d8090a2d25af882e4a80225f33a38&quot;, &quot;ae922b30fabfcfaaa24f4173e70c3241fa9669b77c95b479670d6aa7df59736c&quot;, &quot;94a2a52f933dbe637c0a69440fda89f01c04e76daea68df023a8259e64c77d0d&quot;, &quot;d98803da056b34bfd6fbd81163bd15a0e060de5bcfbedab1742f2e64dacf5a55&quot;, &quot;c3998a13da3c2682aaff274918b933787870a66fdb5aa73d42fd3e973b1d3faf&quot;, &quot;f37779d0670aa9566c712da10119d322b12c7f26715a7db8e7015dbecb7bf31e&quot;, &quot;fed639e10cdc0c47b2409759d4a99913c798905c0cbc1a750fd4f1138c4a77b3&quot;, &quot;297659d312d1cd947595175471e6a8626bc5a52990ec717392723a3616fecf8c&quot;, &quot;1ef15fda16eb9329bca04106fbc3770cb6c51e447ef413c9a934a462215bccfd&quot;, &quot;f35cd29d4b5d4b482fb05a77091a98b1e4f5ee921ba2f1ff8b4c22eee9bf7ef7&quot;, &quot;68955cd3b25645de1dea7dbf3d13699c08f0f12c8ca72060f9d3e6e3316fadb3&quot;, &quot;f8abcaac5425c15a3b733550438d63ab73e237f1f8e0467ee54f0b737b829583&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-30 04:21:15&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-30 04:21:24&quot;, &quot;record_count&quot;: 786, &quot;records_hash&quot;: &quot;eb7ff093a4a793154057829046590525f7e50126b5d9d98a2ed17e27af6d0ed5&quot;, &quot;snapshot_id&quot;: &quot;ef34a125336fd6f323f1c219cb26839ce34cebc8137b7a6759f1cbd56fe37f00&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;33b0083abbf376e9207edc4bd2e06dbf2f1010d86790aff6c4b872fe2677c7bf&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;329e4d7ab87aa0cc7f18d8a9aede7746831b52bfa09166e61de31eac79fc01ef&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-30 04:21:09&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-30 04:21:12&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;1f6238441f4e2c8b74d43c6cd1d4d2619bf8f4f3e78cce1642d7dc734b4fa445&quot;, &quot;snapshot_id&quot;: &quot;07acbf9b08082a7cb8baae853407f46709cea7c4df24bf037a27ae506eb0b1e3&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;893e835ff979055d7e6d30f8573cd0d2f514003318e968d7c6f9140d5135f1df&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;dac5eba9ba64ab71c54196feabc2d5ffbbc2ac20cd68a3e979595766885a2b54&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-30 03:04:48&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-30 03:04:48&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;8edc88f781021d2908b514220fe679f13cb4c01c15bea0377bfe909a4f7e993f&quot;, &quot;snapshot_id&quot;: &quot;b8733dfff90b66e64275c254062ad1716010a4197f6ce84d14454e433e69cf52&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>debt maturities</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>424B2</td><td>2026-10-29 11:33:58</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …lents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30, 2026, respectively. Equity and oth… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30,… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …minations, see “Description of the Notes—Interest Rate on the Floating Rate Notes.” S-10 Table of Contents USE OF PROCEEDS The net proceeds from the sale of the notes will be used for general corporate purposes, which may include, among other things, funding for working capital, capital expenditures, repurchases of our capital stock, acquisitions and repayment of our existing debt. S-11 Table of Contents CAPITALIZATION The following sets forth our capitalization on a consolidated basis as of September 30, 2026 . We have presented our capitalization on both an actual and an… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526437008/d150456d424b2.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-30 22:29:16</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">6</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">198</td><td>2026-10-30 04:23:51</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-30 06:30:03</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">125</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">1</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">1</td><td>2026-10-30 04:21:13</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">12</td><td>2026-10-30 23:36:45</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-30 23:15:55</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4864</td><td>2026-10-30 04:23:51</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">670</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">142608</td><td>2026-10-30 04:21:01</td><td>—</td><td>partial: 6 symbols failed: 2308.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously reta</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">176</td><td>2026-10-30 21:48:42</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-30 23:41:25</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">456</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">677</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1724</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">786</td><td>2026-10-30 04:21:02</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-30 04:21:02</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-30 04:21:02</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-30 04:21:19</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-30 06:10:05</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">76931</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-30 04:21:01</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-31T06:10:14Z",
      "id": "urn:prexel:issue:b2a61341-6df3-51b6-a0ef-eba71664841f",
      "summary": "Prexel daily — period ending 2026-10-30. 51 charts: 30 with a read, 21 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 60 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-30-daily-ce8004be286b.html"
    },
    {
      "_prexel": {
        "content_hash": "e8579b35b837b6debc3a3ebfe94d2db91bc5a8bb9e49f7bfdc583b76446c66d8",
        "context_hash": "e12375802d1498a325f1567cc03db7c66e1b29ead89c010c44ef558cc4ec5e3e",
        "kind": "daily",
        "period_end": "2026-10-29"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 59 (daily)</h1>\n<p>Period: 2026-10-29 → 2026-10-29</p>\n<p>Context hash: <code>e12375802d1498a325f1567cc03db7c66e1b29ead89c010c44ef558cc4ec5e3e</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>CLO BBB vs AAA tranches: ▼ Bearish — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ◆ Mixed — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>PJM load-growth difference: ◆ Mixed — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>N. Virginia power basis: ◆ Mixed — Northern Virginia data-centre power economics (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ◆ Mixed — PJM real-time power-price premium over day-ahead (Near term); Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-29T04:21:34.367607+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 25 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 30 usable / 21 no read — 10 bullish, 9 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>2 confirmed fact(s), 3 awaiting review, and 1 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment; MICROSOFT — Capex commitment; MICROSOFT — Debt refinancing maturity.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:04+00:00</li>\n<li>interpretation: Up 2.6% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 2.65%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.649931555923146, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 2.649931555923146, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3574342432, &#x27;total_tokens&#x27;: 256917751008177}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:05+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.12pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.12309832645556185, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.94615596773646, &#x27;top10_share_change_14d_pp&#x27;: -0.12309832645556185}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:05+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 10 cuts, 7 raises.; Fixed-basket price at prior-day token weights: $0.666/Mtok.; Seven-day like-for-like change: +4.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.584745021692149, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 344, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6656117777103728, &#x27;like_for_like_change_7d_pct&#x27;: 4.584745021692149, &#x27;price_cut_model_count&#x27;: 10, &#x27;price_raise_model_count&#x27;: 7}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:05+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: +0.66%.; Token-weighted effective price: $0.649/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.6579811794003687, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 0.6579811794003687, &#x27;effective_price_usd_mtok&#x27;: 0.648772699830849, &#x27;matched_model_count&#x27;: 344, &#x27;total_standard_tokens&#x27;: 173826013104072, &#x27;unmatched_token_share&#x27;: 3.7066504490127232}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-28 04:19:53+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +154.4%.; Trailing three complete months: 152 new listings (50.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 154.3933054393305, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 154.3933054393305, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 152, &#x27;trailing_3mo_rate&#x27;: 50.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:05+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +10.32pp.; Open-weights share of routed standard tokens: 72.0%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-1.88pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 10.324182763085666, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -1.8791880627829016, &#x27;chinese_lab_token_share&#x27;: 69.46806920473071, &#x27;matched_model_count&#x27;: 344, &#x27;openweights_share_change_14d_pp&#x27;: 10.324182763085666, &#x27;openweights_token_share&#x27;: 72.04403447487176}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:06+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $46.34/MWh vs prior 14-day $47.52/MWh (-2.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.4637691548884186, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 46.3447193452381, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 47.51538883928571, &#x27;caiso_da_trend_pct&#x27;: -2.4637691548884186}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:06+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 16.81 MMBtu/MWh vs prior 14-day 15.02 (+11.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.92946288755688, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 16.806476351207422, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 15.015238988586075, &#x27;caiso_heat_rate_trend_pct&#x27;: 11.92946288755688, &#x27;gas_print_max_lag_days&#x27;: 2}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 01:36:20+00:00</li>\n<li>interpretation: PJM total load growth is tracking the CISO/ERCO regional mean within the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +1.48% vs control mean +1.84% (gap -0.37pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.3683743634192729, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 0.5989606209030713, &#x27;dc_load_premium_pp&#x27;: -0.3683743634192729, &#x27;erco_load_yoy_7d_pct&#x27;: 3.0901892314003243, &#x27;pjm_load_yoy_7d_pct&#x27;: 1.4762005627324248}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:06+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +9.50% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.504346177529383, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 9.504346177529383, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ◆ Mixed</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:06+00:00</li>\n<li>interpretation: Dominion-zone congestion is not unusually elevated.</li>\n<li>evidence: Dominion versus Western Hub basis z=-0.327</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The basis z-score falls below the registered congestion threshold.</li>\n<li>data quality: descriptive z not calibrated; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 52, &#x27;dc_basis_z&#x27;: -0.32731050700264674, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Down 10.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -10.30%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.302952294175494, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -10.302952294175494, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, 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weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:18:06+00:00</li>\n<li>interpretation: The real-time minus day-ahead power-price spread is not unusually elevated.</li>\n<li>evidence: Seven-day DA/RT spread bias z=0.168</li>\n<li>conflicting evidence: A price spread does not measure a load forecast error; supply outages, congestion and fuel costs can also change it.</li>\n<li>What would change this call: The spread-bias z-score falls below the registered threshold.</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; source records not yet linked; weekly mean scaled by daily spread std</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 40, &#x27;current_window_days&#x27;: 7, &#x27;current_window_min_observations&#x27;: 3, &#x27;current_window_n&#x27;: 6, &#x27;da_rt_spread_bias&#x27;: 20.842165833333333, &#x27;da_rt_spread_bias_z&#x27;: 0.1679624061987472, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ◆ Mixed</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and holding steady.</li>\n<li>evidence: CBRE H1 2026 Figure 5 quotes $190-$235/kW/month for 250-500 kW requirements. Calculated midpoint: (190+235)/2 = 212.5, unchanged from the cited Q1 range. The chapter states overall rents held steady; larger deployment tiers are not substituted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;unchanged&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: 212.5, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: 1,016 MW added year over year and rising.</li>\n<li>evidence: CBRE H1 2026 overview Figure 1 (Wholesale Primary Market Fundamentals), Northern Virginia row, Inventory Y-o-Y Change (MW): +1,016.4. This is the annual inventory addition ending 30 June 2026, not the 467.6 MW half-year net absorption or the chapter’s 18-month delivery total. The table reports inventory of 4,496.5 MW; its embedded publisher figure is https://e.infogram.com/69f04b2e-aa60-4094-9cc1-caeb3cb6cf28. No prior annual-addition comparator is asserted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1016.4}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Up 1.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.99%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.9858586349577037, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.9858586349577037, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.24% and falling.</li>\n<li>evidence: CBRE H1 2026 Northern Virginia chapter states that vacancy fell to 0.24%. Period ends 30 June 2026; this is a dated vacancy snapshot. No precise prior vacancy is supplied in this chapter.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.24}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Down 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.43%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.4314086244737068, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -1.4314086244737068, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Down 23.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -23.47%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -23.470426449757976, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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&#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e6aab156fb419039764ba716d0156e32bfcfcd99f2bbc7b222e09671fbf2f860&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6b2c5b7eb77875cd5d30be706d248db83f0173e4b2d6d1557881dc3e7e077ec5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;3ab14aa5790d09dac2f4bba84ea2f19b5df60860c266aec0809bd084aa72f322&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;3791772a9dc132d7425f23d2681d77156f90d4e06e35b72b20335574beaf2794&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Down 2.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.73%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.726300911456525, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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7.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.997064670124564, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -6.997064670124564, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;4ffeffcfba17586f2fe431a696e8fd3a52dbbdcad65aee17a833bba84253d426&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e6aab156fb419039764ba716d0156e32bfcfcd99f2bbc7b222e09671fbf2f860&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6b2c5b7eb77875cd5d30be706d248db83f0173e4b2d6d1557881dc3e7e077ec5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;SOX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;58e2cf3345ca36c43707d2e9e36cede71e4f86464b4f7f1fcf60b1ec706068a3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8babe89c49f1530e4e4531cc5093ab79894112a4ce7875a4d1eef1f44c87993e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6bd83461250f40d3d47ef7b304547c90f5c18cc5ee37c5fe4e41a16e76957a42&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;SOX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-29 04:20:19.353000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:e98c4d59a1ffb3a46db02b269bbd0c26ecce79229a45657b8adeb815fa445a3b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:013f1775c26ff34e2d6cd4d0f12c3bdb932c4de88be1afef6cee8748b5b85d9c:ee2400d8ab8ff2f10a60225757b0f9dae1d56c04608d5e0f3bde9f2075eab428&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:544e4d49f264d294e4f20c4156ed4add785f4ee49f6deca3798fa49e0a5852f4:ae6d428fe92205b675087c1fe33a4e3cffc098491a7f0ed484da1cc74cf36828&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2bc00113ea48c1f0ab3ba9888a1590d984695a9b3c467fdaea4efcd71965c100:9e9065deb4bf7f4bda2605ff580ad3f20f5844c9770a577fc960828cdaae199a&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: 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&#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 129.39897691297358}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ▼ Bearish</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Down 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.12%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.1199070124015886, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.1199070124015886, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;JAAA.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;3e4df9b1eb36748ae5e48f88a2ace71783e7c1e1b75cf9c3a27a750985682565&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d41899bab985dc1b4109d8347357d67d8f61025f5190dddfaff9194cba2f4f9f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:3746f07b757eadc739099324dc089c5c3b113be3849b2c36f73c4f2910a554b6:7458330b310076ec5e6774a806c72c0656c85d66b0873758be01e831786109a0&#x27;, &#x27;aib_bronze.equity_ohlcv:3edc88bd453286a9d6c54ce9fb7fee7b95ee7023be980bcb9e7e8e2042a68035:7116f0c3e0a5712544ebb260899badec3a7627728dfbc99accbcf39e35b4ec49&#x27;, &#x27;aib_bronze.equity_ohlcv:56e9b146bcdbbe726c4fca00fa0df73f58de517e54b3e5294f2c5922125fb515:7c7158b32f2d48c4cdfc90652f2ac19e20adcc998686ae96a6b0e10173631dc1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.7518320723322}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.270.; Two-year own-history percentile: 68.2.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 68.23770491803278, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.27041825614274734, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Down 1.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.46%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.460666089673568, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.460666089673568, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;9133fd9d284280bb0f7a7a3c4069321aa07558bccf9eb55844525e46111c0886&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;88af2d2f15a7ec7e8c84173d10749ef83a616fd388fcd4be62adcea2b5d49d6a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4bd06b2fdcedc4a78bb40174813a8b0d18ce4898eb4a6bdcd103f4339329da98&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;1534f8baab1d0b863943247029371718114819d5175290c462ce181b60ba45d4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ef62ae66bf2bd525759e9944aa3d56f0da9889b8172ac7e9067817bda2129787&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;17436bb18b7b16e1a705cb079d50156792add5a5f326c4f62d3f8cfee1b0124d&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-29 04:20:19.353000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a1b3f049da921cc7d5d1213900751a96fa1732618e636150f6c98048ec0d1ca2:15c03a59567fb5cae8c30a92f423205edbf937de280c782d591004b08c16394d&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4fabcb2beb4595675db3f524cb1550e1a0aeb2116b73f8506d315f0ca5812482:25fd789d0fb5b44e2da763a885460aabfd7759e764bb6db63aee81dcf6afc887&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:29ca73316aa20a0aed81e7b7a581a9852d7f0775849cc7e426404975d0bb0ff8:827b98a0ec058a92f3c2ba6f227f4bbace1a51fa02d8fecfe64abdd5b38ef010&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1e006bbab4c37ea5e0289c30f11ff6d01b5eb6d50c7899daa25d8bb6f87ded75:64f8f57423a3b4e504043df4eec70bb5fa0844e085b8215d4714fca4026406a4&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:1e006bbab4c37ea5e0289c30f11ff6d01b5eb6d50c7899daa25d8bb6f87ded75:64f8f57423a3b4e504043df4eec70bb5fa0844e085b8215d4714fca4026406a4&#x27;, &#x27;aib_bronze.equity_ohlcv:29ca73316aa20a0aed81e7b7a581a9852d7f0775849cc7e426404975d0bb0ff8:827b98a0ec058a92f3c2ba6f227f4bbace1a51fa02d8fecfe64abdd5b38ef010&#x27;, &#x27;aib_bronze.equity_ohlcv:4fabcb2beb4595675db3f524cb1550e1a0aeb2116b73f8506d315f0ca5812482:25fd789d0fb5b44e2da763a885460aabfd7759e764bb6db63aee81dcf6afc887&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:a1b3f049da921cc7d5d1213900751a96fa1732618e636150f6c98048ec0d1ca2:15c03a59567fb5cae8c30a92f423205edbf937de280c782d591004b08c16394d&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.39590324180989}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Up 2.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.8593939975873672, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 2.8593939975873672, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;4ffeffcfba17586f2fe431a696e8fd3a52dbbdcad65aee17a833bba84253d426&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e6aab156fb419039764ba716d0156e32bfcfcd99f2bbc7b222e09671fbf2f860&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6b2c5b7eb77875cd5d30be706d248db83f0173e4b2d6d1557881dc3e7e077ec5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;0b210037b8b2e2df11bec657e8c7b4871159c9bbb5657812dc0ddc44175ca042&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;085d55b535eb8c3cb9e90aaec5be60734f1d21b6629a456d90d63a63d9a72b93&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a1937843f79ca0cedf8304ce7b2bff23404ce44fd1031f241e4db94cf4c1580e&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-29 04:20:19.353000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:e98c4d59a1ffb3a46db02b269bbd0c26ecce79229a45657b8adeb815fa445a3b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9291136a372cf4dbb0eb9dc2f511ea506609809cf168fb1ab69cb4a4ce88a774:c0354264e4bc93a0e1e7144a68a192daa786bda69def91331a5e8acc0e70f39e&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:544e4d49f264d294e4f20c4156ed4add785f4ee49f6deca3798fa49e0a5852f4:ae6d428fe92205b675087c1fe33a4e3cffc098491a7f0ed484da1cc74cf36828&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9eb72c43cfaacf6aa63b3d82e5a4efaed72481be811684912d0eacc23c082918:1bf8623a48802342789dcb397e92721e14b77b9c6f3a3b35663ed6d93034c259&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:544e4d49f264d294e4f20c4156ed4add785f4ee49f6deca3798fa49e0a5852f4:ae6d428fe92205b675087c1fe33a4e3cffc098491a7f0ed484da1cc74cf36828&#x27;, &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:e98c4d59a1ffb3a46db02b269bbd0c26ecce79229a45657b8adeb815fa445a3b&#x27;, &#x27;aib_bronze.equity_ohlcv:9291136a372cf4dbb0eb9dc2f511ea506609809cf168fb1ab69cb4a4ce88a774:c0354264e4bc93a0e1e7144a68a192daa786bda69def91331a5e8acc0e70f39e&#x27;, &#x27;aib_bronze.equity_ohlcv:9eb72c43cfaacf6aa63b3d82e5a4efaed72481be811684912d0eacc23c082918:1bf8623a48802342789dcb397e92721e14b77b9c6f3a3b35663ed6d93034c259&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.55981291154545}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Down 2.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.30%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.2979686290363954, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.2979686290363954, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;4ffeffcfba17586f2fe431a696e8fd3a52dbbdcad65aee17a833bba84253d426&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e6aab156fb419039764ba716d0156e32bfcfcd99f2bbc7b222e09671fbf2f860&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6b2c5b7eb77875cd5d30be706d248db83f0173e4b2d6d1557881dc3e7e077ec5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;880acde5c4fdcd845db9d87eb60e2a9572029adde8be1604c5e6e8f814b4fca9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;aa55a122adecd9b1df0fd688d5d0505adeae803626a82bdb0094b00e49cdba4a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4479175ea37ee78ca9661609a653286b35e4b7e90b4c77b09390938177f700a7&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-29 04:20:19.353000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:e98c4d59a1ffb3a46db02b269bbd0c26ecce79229a45657b8adeb815fa445a3b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ee5f4f2bf8fc158ce0555ba8b2482f620668a4af1e86061e5fc640b4332c0be6:7594d0570b8dc0f7e6765de3e469fe6ffbec02543f58a0cb73369a6171db1055&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:544e4d49f264d294e4f20c4156ed4add785f4ee49f6deca3798fa49e0a5852f4:ae6d428fe92205b675087c1fe33a4e3cffc098491a7f0ed484da1cc74cf36828&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a3f73dfc1127602b07aa7f400cd883d61162f7476673effdcc78a948399f51cc:1a11d2011a31b776794cdcb21e6c5b70186ac003d8648a36a32b2e84c4ac7782&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:544e4d49f264d294e4f20c4156ed4add785f4ee49f6deca3798fa49e0a5852f4:ae6d428fe92205b675087c1fe33a4e3cffc098491a7f0ed484da1cc74cf36828&#x27;, &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:e98c4d59a1ffb3a46db02b269bbd0c26ecce79229a45657b8adeb815fa445a3b&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:a3f73dfc1127602b07aa7f400cd883d61162f7476673effdcc78a948399f51cc:1a11d2011a31b776794cdcb21e6c5b70186ac003d8648a36a32b2e84c4ac7782&#x27;, &#x27;aib_bronze.equity_ohlcv:ee5f4f2bf8fc158ce0555ba8b2482f620668a4af1e86061e5fc640b4332c0be6:7594d0570b8dc0f7e6765de3e469fe6ffbec02543f58a0cb73369a6171db1055&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.35001415342936}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Up 7.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 7.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.412006421491046, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 7.412006421491046, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;4ffeffcfba17586f2fe431a696e8fd3a52dbbdcad65aee17a833bba84253d426&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e6aab156fb419039764ba716d0156e32bfcfcd99f2bbc7b222e09671fbf2f860&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6b2c5b7eb77875cd5d30be706d248db83f0173e4b2d6d1557881dc3e7e077ec5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;cea6cc48c8145108f0c745c20be87ff5b07eacd0ee080d0673ed487577caa9d7&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8dfcaa621a7150e8069462b92510b5ee29c8185a1983cc61dffcdf7a066a5a65&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;64e8f37d2abde11138199c5835e7083ec309e91ef70f27ab87debe0c55cfbfe6&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-29 04:20:19.353000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:e98c4d59a1ffb3a46db02b269bbd0c26ecce79229a45657b8adeb815fa445a3b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:996bd6cd6fbdecc85214526a16bafadffaca61715e47817a014cc33795fa8fe7:f962ac7319413bd29169fb38bdf358dec5089385da02e425aa411d3f891e2fc5&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:544e4d49f264d294e4f20c4156ed4add785f4ee49f6deca3798fa49e0a5852f4:ae6d428fe92205b675087c1fe33a4e3cffc098491a7f0ed484da1cc74cf36828&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:103fb7ee75e53b92d49ea6b445316a843c180f12a4a5e77d6d8c3c0c7456e995:991dca781c82a3da79755bf25bc3fc315c7ee77744cd82130e65e27f6d1877d2&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:103fb7ee75e53b92d49ea6b445316a843c180f12a4a5e77d6d8c3c0c7456e995:991dca781c82a3da79755bf25bc3fc315c7ee77744cd82130e65e27f6d1877d2&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:544e4d49f264d294e4f20c4156ed4add785f4ee49f6deca3798fa49e0a5852f4:ae6d428fe92205b675087c1fe33a4e3cffc098491a7f0ed484da1cc74cf36828&#x27;, &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:e98c4d59a1ffb3a46db02b269bbd0c26ecce79229a45657b8adeb815fa445a3b&#x27;, &#x27;aib_bronze.equity_ohlcv:996bd6cd6fbdecc85214526a16bafadffaca61715e47817a014cc33795fa8fe7:f962ac7319413bd29169fb38bdf358dec5089385da02e425aa411d3f891e2fc5&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 91.68907049732682}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Front VIX at 0.88× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.880.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 193, &#x27;epoch_values_hash&#x27;: &#x27;0bb7eba001bf503552d51e6f3e2edfab433040e63ddaec4e6c349832bbf6e185&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;14f092ed5fce3153ae43a176ba2cd546037f6f859c9da2c862630842ad349760&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 570, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;688d80dd0f4b40d02072e9065e4d870c99216ae941f9d30babb7a94d8eb66e2e&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 192, &#x27;epoch_values_hash&#x27;: &#x27;8187f78d8d6912832f5b1484f661f928cba083a858fc0e360c674b8be3e9daeb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1ac934ff6f5c3366faeeeea2f4c2e0f212e11190b2dea73a311811216b237793&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 562, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d7a90e06b5d54b63ad16d519b797dfcc6c938b1ab763a7188de3d650eb60ab13&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-29 04:20:19.353000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:26ac1251f59b56a51bd36a9f16721290f49d00425a98f8fbef6958920f63376c:8ce493e0979bc289ec91f7c6e12fc7e6b1caa5884843df4b99f786ff942145d9&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: 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<code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-28 / 2026-10-29 04:20:12+00:00</li>\n<li>interpretation: Down 4.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.57830535627558, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.57830535627558, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;1e3ae28f571296f907445125d9858ebd15065ba4587d90447ae5290947550ebb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b57c0349ef4818aad96c2afa2e2623fec7d8a83887764705d869bcbc50762d42&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f66d6252558574d7aeba7beddae7a95707080256bce4d098cfb8aca372c4a822&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;3d3ed6faa04188793c4abeb27317f0dd4da58473a859d8759650b938029c8b0c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;39140a7b9f2dba8c1162ea40490ca83316905f8d13cd2ffad7caca9e4eb5c167&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b7e8c30cbb0d0470c685e2172f274db9a71c6b578998d6d07320ecfc576a0d57&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;1534f8baab1d0b863943247029371718114819d5175290c462ce181b60ba45d4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ef62ae66bf2bd525759e9944aa3d56f0da9889b8172ac7e9067817bda2129787&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;17436bb18b7b16e1a705cb079d50156792add5a5f326c4f62d3f8cfee1b0124d&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;5cf545ee98f49b4e0afb2456e1ba62dadb0ed648a972b72135996ffcfe6a2a8d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8fbdc5302e6d674561576301f23eaabaf51ad63d4383daa9481ddee8a2a092c4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3e3d40c342ded45c676079631313ed364d17db7ea5607758b58de326bb9654bc&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-29 04:20:19.353000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8e92112f3388dc0f69792355a50bdee58b5ae6abc15efd16f6f1f2706844ee64:da002ffa2b6ed1b448968324779787225d0dcd2b2f6fbe759728938dae13c153&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:c6ba893c9781020ecf6f05613ca5ce545fb8a82b8aafe3a5ce317db659b6c2d9:7dc1fd9c5d5e34543712393d757dc6f0038290ae9edd0ae35de43a671d688b54&#x27;, &#x27;aib_bronze.equity_ohlcv:cc69a520016f23d6ad63ed77e7863d688ff6c23063c77abaf9baf45c82802b73:e715b96a9c77597492d15b5e99874bb341a002c969312105158848dc29c772d6&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.88104194034564}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: event-specific interpretation rules are not implemented; market probabilities remain descriptive</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: the comparison market set is incomplete or unverified</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; the comparison market set is incomplete or unverified; prediction-market probabilities; thin market liquidity</li>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-28</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-28</td><td class=\"num\">113,471</td><td class=\"num\">24</td><td>—</td><td class=\"num\">11.6</td></tr>\n<tr><td>CISO</td><td>2026-10-28</td><td class=\"num\">604,126</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-1.954</td></tr>\n<tr><td>ERCO</td><td>2026-10-28</td><td class=\"num\">1,307,329</td><td class=\"num\">24</td><td>—</td><td class=\"num\">15.82</td></tr>\n<tr><td>PJM</td><td>2026-10-28</td><td class=\"num\">2,099,658</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-0.05745</td></tr>\n<tr><td>SOCO</td><td>2026-10-28</td><td class=\"num\">568,519</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-1.027</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">45.38</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">39.34</td><td class=\"num\">0</td><td class=\"num\">-6.035</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">38.68</td><td class=\"num\">0</td><td class=\"num\">-6.703</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">70.34</td><td class=\"num\">0</td><td class=\"num\">6.438</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">63.9</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>DOM</td><td class=\"num\">63.4</td><td class=\"num\">0</td><td class=\"num\">6.128</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>WESTERN HUB</td><td class=\"num\">57.27</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-10-28</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 1</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>299 benchmarked model identities; 212 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">58.4</td><td>$4 / $20</td><td class=\"num\">24,762,254,254,577</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">56.9</td><td>$10 / $50</td><td>≥ 2,720,281,451,667</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">54.5</td><td>$2 / $10</td><td>≥ 8,863,476,719,753</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">54.2</td><td>$2 / $10</td><td class=\"num\">9,335,369,638,881</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6.1 Terra (Max)</td><td class=\"num\">51.0</td><td>$1 / $5</td><td>≥ 167,622,843,024</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">50.4</td><td>$2 / $10</td><td>≥ 2,054,865,109,134</td></tr>\n<tr><td>Claude Fable 5.1 (Xhigh, Default Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 530,302,944,595</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 32 eligible configurations.</p>\n<p>Usage window: 2026-09-29 → 2026-10-28. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-29 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;693fa053f233311c120b9756216d0648939478cf860c54b72b9996956bc08e60&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;cfad492ffeb739f987d6586e38e90cda256298910fb81b3c2e4e8cf7ea4c73d4&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;35a38605f386df85a19590b123c603bdfafeb2a9718849b69861a9357d299275&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-29 04:18:10&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-29 04:18:14&quot;, &quot;record_count&quot;: 1723, &quot;records_hash&quot;: &quot;790370567afd5a025756c5621d7060af9671175536d7c4ef891fc3ea0a860cd9&quot;, &quot;snapshot_id&quot;: &quot;983c791941bb41f38ecb6190e7b86225d549a1d2cf0299cc545846f6ce19158f&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;713f10aba889a2c7a761d9385287e477d4f55d38f4ba6ffaa8f5a77fd8e416ee&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;becfc208dba98d644c2365da3457f2b736ec00d8e16641761c98e4d7f3a51719&quot;, &quot;21a4e1527573d3fd289220a03365a80a562efac7d9efa549ad9a604aa91fd6a7&quot;, &quot;48182c2831614ecf5957be05cf5feae08ab94642b85a7f5b5a52f2d4ef2756aa&quot;, &quot;f588562055f9287c03c5ff2e9076db0c38947810ea927dd4a1f942fe9de53d72&quot;, &quot;e9197d96cb4945dbf1402c82b68179114b3d01e76b5551ffa388e9db28d73230&quot;, &quot;8c19f3453cbf22a89eb795b5152f2c9be8f83fea3b78f82756e7f2242538b8d2&quot;, &quot;b6924e7da4dc7048c779741a8c4f6d6c78aa44eb030f874351d737581f26dc02&quot;, &quot;270c7469e6fa5c811a6e965bcf748a10def69b3cd8b2cf2cfce034f5af2a67bc&quot;, &quot;cac53d27b2e565f2cada7e3d574acccd4d27435cd0f06acd75dc5c005f1e3f97&quot;, &quot;c0d459dbf4c83d110bd57718f08244b9abe20f846d2393597503e60fe27013dd&quot;, &quot;51a2b79d47b9a106c463a3ee8e3df5eff612b0f710a9f62c8f88d659273889e9&quot;, &quot;10c05b8fee18e5b6fdffca3a14cf7660b6ea2379055b0b62488bf325468f1f8d&quot;, &quot;14967beded551b8de9c76a760b4a6c8a864b1979f2ef046abb50b25945005f5d&quot;, &quot;15720db7dd7599ad7fa65e8b3af017f60997c12d1a6ee2d8e2a1ebf3f954d0c5&quot;, &quot;4921d10926c8348a1366b884e1bcd47b76e00d41f48d532f0d9d8ce66037fcb7&quot;, &quot;a2ae9848bd9155308d89a63b1f82a8999a2643801bc7558f4973cba9ad1e54ca&quot;, &quot;bdfed1eb392014a8eb581009fe987bfda126e74824e5baf07a5731622b59b8c8&quot;, &quot;2aa080c66c8b8bdfd5f62427af3173f6ea3901b8eb856b75a51af5ea7c4d2a81&quot;, &quot;99a4f9e3e55cdc1623a0ad5433b36e221349f426cc7ba457662acf3166b10e6f&quot;, &quot;76e5751f0fa7efab5f6251d02e2547acd51797a7acf53d2bf4b1fba63a523cef&quot;, &quot;93af7bfa39169e3803cff31ee9f9f0bbcb7d66b80b7a5ec61fe1a776cd0114c2&quot;, &quot;b1940346b88e76052eb8ad96b6e75ccca2a0d938ff576dc6fefc7e70dc89f427&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-29 04:18:20&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-29 04:18:28&quot;, &quot;record_count&quot;: 785, &quot;records_hash&quot;: &quot;38556d688d1ffceefafe8e8ed2f2d1d41d076af8533b19d3b33433599f02a983&quot;, &quot;snapshot_id&quot;: &quot;1eee1ebc8ef1eec48a8a87cbb011839fff3a67164125305f3cc1245f747594da&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;09853900026c5d0f6c01321f157dd2923aa950d435a93f1e1edc4a9cda881dac&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;b12d491c43addef31a9d6724d8c7e5efd5f1e2b8a91013f3b390c66e9f148fb3&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-29 04:18:11&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-29 04:18:14&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;6e248f0df435186c301aca3119d26811381115eb59d1b1b0e065888b9bf9cf9a&quot;, &quot;snapshot_id&quot;: &quot;0fd11f13cc8d55d8ec3183fa4215595dabcde7b8f2bb320b4415b503ca3d3af0&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;4df188f17e1c226d1c91a46868c550e505697b698c141986bc729ba489158f32&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;0bc580fdc8cca2bc0ae0d88009f94c4480c507504b5a76db791634369f6ee74b&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-29 04:18:06&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-29 04:18:13&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;ab38fc94974ab9f74f1719efd9a3893b4699b34f99835a72c4ff7aab3769c3b7&quot;, &quot;snapshot_id&quot;: &quot;2ee65d8eb47485019a048b37234ec30e56c4facead45e89899504e47b552e851&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-10-28 20:07:39</td><td>debt maturities</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · capex_commitment</strong>: …lents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30, 2026, respectively. Equity and oth… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $64.5 billion and $76.8 billion as of September 30, 2026 and June 30,… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526436133/msft-20260930.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-29 23:24:55</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">6</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">188</td><td>2026-10-29 04:20:41</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-29 06:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">144</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">4</td><td>2026-10-29 04:18:14</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">13</td><td>2026-10-29 22:55:59</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-29 23:37:46</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4833</td><td>2026-10-29 04:20:41</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">670</td><td>2026-10-29 04:18:03</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">142885</td><td>2026-10-29 04:18:02</td><td>—</td><td>partial: 5 symbols failed: MHVYF.US: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; SCRNY.US: Price snapshot omits 2 previously ret</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">148</td><td>2026-10-29 21:29:16</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-29 23:20:17</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-29 04:18:03</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">457</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">673</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">11</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1723</td><td>2026-10-29 04:18:03</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">785</td><td>2026-10-29 04:18:03</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-29 04:18:03</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-29 04:18:03</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-29 04:18:22</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-29 06:10:05</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">27574</td><td>2026-10-29 04:18:03</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-29 04:18:02</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-30T06:10:14Z",
      "id": "urn:prexel:issue:94324799-a081-598b-9750-32604c9d44cf",
      "summary": "Prexel daily — period ending 2026-10-29. 51 charts: 30 with a read, 21 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 59 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-29-daily-e8579b35b837.html"
    },
    {
      "_prexel": {
        "content_hash": "aa6dd31e4ef5bb6647b8c33919b674d91f0f3b13f257c07020e402905d72acf8",
        "context_hash": "aaadfabc1ce7e0fcc6af16e086327219b1b92f83731066467a9202d44b90aae7",
        "kind": "daily",
        "period_end": "2026-10-28"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 58 (daily)</h1>\n<p>Period: 2026-10-28 → 2026-10-28</p>\n<p>Context hash: <code>aaadfabc1ce7e0fcc6af16e086327219b1b92f83731066467a9202d44b90aae7</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>CLO BBB vs AAA tranches: ▼ Bearish — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ◆ Mixed — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>PJM load-growth difference: ◆ Mixed — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>N. Virginia power basis: ◆ Mixed — Northern Virginia data-centre power economics (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ◆ Mixed — PJM real-time power-price premium over day-ahead (Near term); Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-28T04:23:28.844557+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 25 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 30 usable / 21 no read — 9 bullish, 10 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 4</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>2 confirmed fact(s), 1 awaiting review, and 1 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:52+00:00</li>\n<li>interpretation: Up 4.4% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 4.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.424327810075068, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 4.424327810075068, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3546791837, &#x27;total_tokens&#x27;: 256188673382226}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:54+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.00pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.0004128045886915288, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.94344478777849, &#x27;top10_share_change_14d_pp&#x27;: 0.0004128045886915288}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:54+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 7 cuts, 15 raises.; Fixed-basket price at prior-day token weights: $0.690/Mtok.; Seven-day like-for-like change: +2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.215859366775841, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 342, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6895942420695604, &#x27;like_for_like_change_7d_pct&#x27;: 2.215859366775841, &#x27;price_cut_model_count&#x27;: 7, &#x27;price_raise_model_count&#x27;: 15}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:54+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: +0.40%.; Token-weighted effective price: $0.677/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.4049446465957507, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 0.4049446465957507, &#x27;effective_price_usd_mtok&#x27;: 0.6766992239464574, &#x27;matched_model_count&#x27;: 343, &#x27;total_standard_tokens&#x27;: 169277028015473, &#x27;unmatched_token_share&#x27;: 3.671481524171674}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +154.4%.; Trailing three complete months: 152 new listings (50.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 154.3933054393305, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 154.3933054393305, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 152, &#x27;trailing_3mo_rate&#x27;: 50.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:54+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +7.78pp.; Open-weights share of routed standard tokens: 71.6%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-2.32pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 7.776543275006318, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -2.3225307092561707, &#x27;chinese_lab_token_share&#x27;: 68.97315555862357, &#x27;matched_model_count&#x27;: 343, &#x27;openweights_share_change_14d_pp&#x27;: 7.776543275006318, &#x27;openweights_token_share&#x27;: 71.62823654866004}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:54+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $47.93/MWh vs prior 14-day $48.46/MWh (-1.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.0864649421157593, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 47.93115095238095, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 48.45762607142857, &#x27;caiso_da_trend_pct&#x27;: -1.0864649421157593}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:54+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.69 MMBtu/MWh vs prior 14-day 15.25 (+2.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.859793642052035, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 15.685901720430106, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 15.249789217948868, &#x27;caiso_heat_rate_trend_pct&#x27;: 2.859793642052035, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 01:40:30+00:00</li>\n<li>interpretation: PJM total load growth is tracking the CISO/ERCO regional mean within the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +1.96% vs control mean +1.24% (gap +0.72pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.7197378677513111, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 1.4103636258672527, &#x27;dc_load_premium_pp&#x27;: 0.7197378677513111, &#x27;erco_load_yoy_7d_pct&#x27;: 1.068991535741279, &#x27;pjm_load_yoy_7d_pct&#x27;: 1.959415448555577}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:54+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +9.95% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.949919527165495, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 9.949919527165495, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ◆ Mixed</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:54+00:00</li>\n<li>interpretation: Dominion-zone congestion is not unusually elevated.</li>\n<li>evidence: Dominion versus Western Hub basis z=-0.304</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The basis z-score falls below the registered congestion threshold.</li>\n<li>data quality: descriptive z not calibrated; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 51, &#x27;dc_basis_z&#x27;: -0.30431872133933313, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Down 12.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -12.93%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -12.93086491018819, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -12.93086491018819, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;ab4c95742d89769239cc06e8a2c0cd8a0ec8d5f6507c60716139c5163712dffc&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;72091438d4798d3a4b6964fd4c107b9a6b256c7aafca3ed8725ae0d872c12ba1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f7dc9da2b2eec67061148db63018a2adc8709b370e8b8e87532168eab39072dc&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, &#x27;CCJ.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;74a0816fa2afb6fc0314724c9e84ba69ea8a9d45908d0fe8dc2ba4dad34c16b6&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;13c4c6510aecf84470a9e61d51d1bd6d4b84ee4c5ce21990b8dd688a0f12d00c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;372d29738245426e55f10aa97c04f7b2c50c9e89816c5770f9a97d9a22786f0f&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;c4930cdeefaa464308ee11622467a828bd6c3329160e28bde072e873ee6faf26&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: 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&#x27;f85e05e472db540f3f76ec6a6556f6c7fe222638ba1413e17bbda348b5662963&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, &#x27;OKLO.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;7c4b2223c5ab4edef5341d2371724b36e4f17ecf472435d73762b0e03a8e747c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9e19a5d3794682e08244477afc1d5e35179dd3214b143b5f2449391ae18c9124&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a7826a7133409209dfd395d64f4bf604baa6b1acafccc914a2929e0c59e5d256&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, &#x27;URNM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;bf08cd1063c83b6cff72d0578ac83de4f0039fc450a52b971b49ddf55b52532d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f12e6c2ce2a470373a64cc23f65a12d4a01133064259f09dc32228d783f6dc71&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd1a42fc5810dc44c9d4196ce8c20313d00323f90f61d4b70bfe64f72fa79295&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: 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weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:19:54+00:00</li>\n<li>interpretation: The real-time minus day-ahead power-price spread is not unusually elevated.</li>\n<li>evidence: Seven-day DA/RT spread bias z=-0.049</li>\n<li>conflicting evidence: A price spread does not measure a load forecast error; supply outages, congestion and fuel costs can also change it.</li>\n<li>What would change this call: The spread-bias z-score falls below the registered threshold.</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; source records not yet linked; weekly mean scaled by daily spread std</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 39, &#x27;current_window_days&#x27;: 7, &#x27;current_window_min_observations&#x27;: 3, &#x27;current_window_n&#x27;: 6, &#x27;da_rt_spread_bias&#x27;: 6.865133277777777, &#x27;da_rt_spread_bias_z&#x27;: -0.04921687493833852, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ◆ Mixed</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and holding steady.</li>\n<li>evidence: CBRE H1 2026 Figure 5 quotes $190-$235/kW/month for 250-500 kW requirements. Calculated midpoint: (190+235)/2 = 212.5, unchanged from the cited Q1 range. The chapter states overall rents held steady; larger deployment tiers are not substituted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;unchanged&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: 212.5, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: 1,016 MW added year over year and rising.</li>\n<li>evidence: CBRE H1 2026 overview Figure 1 (Wholesale Primary Market Fundamentals), Northern Virginia row, Inventory Y-o-Y Change (MW): +1,016.4. This is the annual inventory addition ending 30 June 2026, not the 467.6 MW half-year net absorption or the chapter’s 18-month delivery total. The table reports inventory of 4,496.5 MW; its embedded publisher figure is https://e.infogram.com/69f04b2e-aa60-4094-9cc1-caeb3cb6cf28. No prior annual-addition comparator is asserted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1016.4}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Up 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.28%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.284962830690417, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.284962830690417, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, 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&#x27;history_values_hash&#x27;: &#x27;cc93fc77c22a4826bb85af243660073f63f2b4c434cfdc39f98059999c58680a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fb5ce6f7a251b739c91ad63d727b13cdbdd9270f88a03b1c72a0c2f438c36077&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;c4930cdeefaa464308ee11622467a828bd6c3329160e28bde072e873ee6faf26&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cd6c8c382e62211cd69180b513c2bf8f66342f4ffaeda95c6d2169a1181c5e35&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;809cd6cc2389984b4ba79fac0ddef2757d62204b8f00b876614df850a0c44518&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;203577e9b9f2c00791a4d669b3bd6888dc452f727cbcead510de4a15365ba00c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b10855f7bb9280f4e657ac0506ed1ec7984e7ed9a48464cfee83a38754f8a8cf&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8015ab534e6e7f00b616e590b670e9ac2838f514a353f839145c0c2546453074&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-28 04:22:11.327000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4499b59cadc218bbf561c0247aed7cf35835c92e18756ae430d86caf24ed9745:2cf790dbd8a021db47268e51b1d56d6e88653e23832e4760a40ced32845c5719&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7d1e321cc96fcc310d94d32e22df62a79949552af75e508277ac5365335e8a9a:873e3103ed25af2e39a41a69557958b0de2eddda0e6aad081848d1db618d3c31&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0b3ff7924e2d12b58a3427044c2da1e05a4578ba72cbda6577aed1c18e051263:03ea0b8058aa2064f9632e0473a0621cc604d4bf9d8f0589a1a79498c207b21e&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6d16c48ccbd995f44a1de704e8b0d74dd294c1318ed20b1b48bc1b917ae86eb5:349c3732b6af8019d431ecf6f5685709232336c9817ba589d989d89f0f67c92a&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3381ceec5dc239734b0ad6755c43b2069cfa29dfca78d725966554a21c4b0d2e:734a17ecf5f2d25c72c505c5cfc2eae7a73c56237b68a0f00e7a6f699f363376&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:285e0babed2e5b7375e86c0c07a8d6335c0046754ba8dc62dc1bdd0ee341d681:21fea87266327db732ec593cde0e4a0d30df1cd27a5d840a4b0f3004f1f579b4&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:471634adf61d07c6c45fc2c25748e8932b839e61742cbc123c4cdb6e7df7b8f9:75ccd850980b1839305de33acdabe3e38d195839683ddf3c14a111a725a6bb0a&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:c43c03c0168f412d8816aa48b10999ff9cf7ee5bdcdae59bf2fd04277c33d9e5&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:62e0990d228e56a47b8d9108a74218bf60362b1b20d5f755e86f2a64e5e7d194&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0b3ff7924e2d12b58a3427044c2da1e05a4578ba72cbda6577aed1c18e051263:03ea0b8058aa2064f9632e0473a0621cc604d4bf9d8f0589a1a79498c207b21e&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:285e0babed2e5b7375e86c0c07a8d6335c0046754ba8dc62dc1bdd0ee341d681:21fea87266327db732ec593cde0e4a0d30df1cd27a5d840a4b0f3004f1f579b4&#x27;, &#x27;aib_bronze.equity_ohlcv:3381ceec5dc239734b0ad6755c43b2069cfa29dfca78d725966554a21c4b0d2e:734a17ecf5f2d25c72c505c5cfc2eae7a73c56237b68a0f00e7a6f699f363376&#x27;, &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;aib_bronze.equity_ohlcv:4499b59cadc218bbf561c0247aed7cf35835c92e18756ae430d86caf24ed9745:2cf790dbd8a021db47268e51b1d56d6e88653e23832e4760a40ced32845c5719&#x27;, &#x27;aib_bronze.equity_ohlcv:471634adf61d07c6c45fc2c25748e8932b839e61742cbc123c4cdb6e7df7b8f9:75ccd850980b1839305de33acdabe3e38d195839683ddf3c14a111a725a6bb0a&#x27;, &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:62e0990d228e56a47b8d9108a74218bf60362b1b20d5f755e86f2a64e5e7d194&#x27;, &#x27;aib_bronze.equity_ohlcv:6d16c48ccbd995f44a1de704e8b0d74dd294c1318ed20b1b48bc1b917ae86eb5:349c3732b6af8019d431ecf6f5685709232336c9817ba589d989d89f0f67c92a&#x27;, &#x27;aib_bronze.equity_ohlcv:7d1e321cc96fcc310d94d32e22df62a79949552af75e508277ac5365335e8a9a:873e3103ed25af2e39a41a69557958b0de2eddda0e6aad081848d1db618d3c31&#x27;, &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:c43c03c0168f412d8816aa48b10999ff9cf7ee5bdcdae59bf2fd04277c33d9e5&#x27;, &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.75013188042611}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.24% and falling.</li>\n<li>evidence: CBRE H1 2026 Northern Virginia chapter states that vacancy fell to 0.24%. Period ends 30 June 2026; this is a dated vacancy snapshot. No precise prior vacancy is supplied in this chapter.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.24}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.424033524364157, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.424033524364157, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;AMZN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;03600ec2010b29d4a7b0e086d8692285717473424ea11be2ed4d4021dfeba412&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;abfa0868bf0f82031654ffdd37001c2c2e092ea60560a6f02f74f54460f2d8cd&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;68733b4e585ada1cb099007c20504e3220afd1bb7e2453010623dc415e21c989&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, &#x27;GOOGL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;da50bdcca5b07df1be9b70db362262e4311ea5f41b5c9f4c91f98860f9745d9c&#x27;, 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Down 29.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -29.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -29.86307288980059, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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&#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;d59ac3520f0cc9e5c81252991f4bbb42b5be8f5aa68bf8fdeec68e8c20383ef4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;1c9c40088ebaeebe573d51112e9dcd8266593a89c57d0c4fe3fe6029ce8c6305&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-28&#x27;, &#x27;row_count&#x27;: 398, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bc86711d1a8899cf8c0a0cbd274a011ecac0b5df9e01c1022c7b25676fe243b4&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;c4930cdeefaa464308ee11622467a828bd6c3329160e28bde072e873ee6faf26&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cd6c8c382e62211cd69180b513c2bf8f66342f4ffaeda95c6d2169a1181c5e35&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;809cd6cc2389984b4ba79fac0ddef2757d62204b8f00b876614df850a0c44518&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;c3403af3cf1e0bb7e6884e1e46f9d02301f0d5ab862247bf721bfe580efa511a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9e647e80ab96d2966c22921e22f7516e0dbbe108e1d4ea6c2fd40cb7e6a704e4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f476fc486d40e9d9bb4a21ec5cbbb22c5a057cc959f7de959cd6dd4070053a2b&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;f61748ff77ec109c01b8a0d7af7be895a556085efbffbde7211f375dd6ea241c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;ddfd7a48169147940a142ba538d4086d94d12e3e2e389813a66ef9a02ef4e58a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;row_count&#x27;: 506, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b49d0f12b2efb7311087068bc914dbbb71be5cab9ccfe36477616e63e0731738&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-28 04:22:11.327000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e0e6b24ad48cabaf3c1a215e198a433bb4734f6e6d72a5057e3c5b56bafd7d14:d35bc6e64738a69bcfabebe26b4c6b3f28e6868eb0db29b48d00b31f2ed50313&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dba0ce10756c8c4e9b8fd2e6af55d0d876eaa1f4ef6447c0d14f562eaba96d3d:fe4c37044d5d5e3ca91fbf9d0aa079c22cf836a22438f232061b3bd02e170222&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bc532dd51fe9c0de62111cdc0921bc474b26ad34d3107997c2800aa163ff16d6:4bda8644ee49ec174e9bc38697a4b7c694e672912ac461fb962101aa3295fa6a&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bea96ebd337b75202491d82167ebfa73c6c071098ab167d5e03aea1d37706402:68bfab0d411801e9bc13b2675d005cb8a35db575a4bd80879c3a1133b6910182&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1e0ca3ef081596068a59ab705408e2ab259927ce53c80eb78483ca6921f229b0:4dfe742e1bc3094f49860805aa40eec7d852ecf907e237e91e5f04c1bb38a916&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dee606015c7c7068829535f4c3576be545829904275975fae4f807beb5413dc8:5d3c796b8abb124aaa8933349198a8ca1abce2870d54d6309719a623948baaf2&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:285e0babed2e5b7375e86c0c07a8d6335c0046754ba8dc62dc1bdd0ee341d681:21fea87266327db732ec593cde0e4a0d30df1cd27a5d840a4b0f3004f1f579b4&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Down 3.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.161681951739259, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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9.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -9.12%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -9.120582641939867, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -9.120582641939867, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:c83be2b0def24e10138b8cd2773ce0a4bba005ffeefbbabf069724827f431a3c:b3b0528b065b8d0d869064e1516032ff12ec2829348daa0b9897fe54730fbf89&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 127.51950426135603}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ▼ Bearish</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Down 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:03cd407e9e610aa55b85ab96474766c13db943bb5a7498e33bfdf51989bd40bc:bc2b51d69303d32cd718d339ff0bf0b46eef398fe87912447b71fd1dcd9f2ee1&#x27;, &#x27;aib_bronze.equity_ohlcv:19bb7cd58243ef6826ea57cd47d94eda7e81fec1755539920330a9b23d967d22:72d8b6659561b50768c1bc7decf3742dd7eeac3a2f574d478353b15a94071fd5&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:9f22db1ca0e2cdac75ffe11b59f4a630a9a2c9e22ad3a2c4159b60efd2ffc4e1:df589a287b0254b9af9f96d45b3a854285a1429603107027de3b41d2b03ae707&#x27;, &#x27;aib_bronze.equity_ohlcv:ec514dada7caa8810081014d0d8e92a47322fc4dbe8d37cb0ba92e8d3cf9600a:e9692696b814accbdc814cc98253ddf4a65dec59e435fadeffbcc135b6793a7d&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.64677693182975}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.295.; Two-year own-history percentile: 75.6.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 75.564681724846, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.29460698192128776, &#x27;pair_count&#x27;: 17020, &#x27;symbol_count&#x27;: 185}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Down 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.3624864177568141, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.3624864177568141, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;9d710bcf1c48fd66c0781fa6db2c329efc1f3f4cda3b31a727f9a2e0d239c789&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c7bbfd5ca24d4e57e64b72c56af1f1cd0ae894ca40209251366e0fb7243e953a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b0fdfd99c279a254b8b041bede3e1fd54ff8bcd43eb4ffd3893f239d7bcf1dda&#x27;, &#x27;symbol&#x27;: 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&#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-28 04:22:11.327000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9536dfb9b55f9c2dbf1c22e30790a37919186bbaa57e1e99ffeffef2f5c6b54f:0a5645696bc992b6d41b2d8c38c83be2f6b65c08afeed4018f6bea4c2fe50319&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b040e5800b1a967bbd1a66de6780d88c09063cd0a7b022e77a8d64ceab50d88e:0915e39e928273cb1c0e23dc1b4a6d95e62c67f1dcf29754fbb0b87f1e7accbe&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8381440e09360dad7ee9ac6200752183400cca73b4c0059af6d86cc2399e8226:4eb558d2be5babbf6edc0c476454aae391b53fc44ff7d44866c5f7b1016da50f&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c659a31ab88046d0281e8c7be8ff7fcf2d3207306a1d7f52cef9c3760a11effb:3783346940f0c2a8cba7929eeb585934bb6f10a77b42510041bc244c250fc678&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b040e5800b1a967bbd1a66de6780d88c09063cd0a7b022e77a8d64ceab50d88e:0915e39e928273cb1c0e23dc1b4a6d95e62c67f1dcf29754fbb0b87f1e7accbe&#x27;, &#x27;aib_bronze.equity_ohlcv:c659a31ab88046d0281e8c7be8ff7fcf2d3207306a1d7f52cef9c3760a11effb:3783346940f0c2a8cba7929eeb585934bb6f10a77b42510041bc244c250fc678&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.18327006006966}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Up 3.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.31%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.3140079198017203, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 3.3140079198017203, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;c4930cdeefaa464308ee11622467a828bd6c3329160e28bde072e873ee6faf26&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cd6c8c382e62211cd69180b513c2bf8f66342f4ffaeda95c6d2169a1181c5e35&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;809cd6cc2389984b4ba79fac0ddef2757d62204b8f00b876614df850a0c44518&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;245f975060e658a9c201626605f05e66f1e99183bf2308cd38c2397e183fa4eb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cdc75ecfb2aace3d3201dc15594db4c35e3e18d283bbba00c485b8a1eab05712&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3cc07f5e5288191b876186ba324608258be0061580e86ef23f703183cff6834e&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-28 04:22:11.327000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:285e0babed2e5b7375e86c0c07a8d6335c0046754ba8dc62dc1bdd0ee341d681:21fea87266327db732ec593cde0e4a0d30df1cd27a5d840a4b0f3004f1f579b4&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;aib_bronze.equity_ohlcv:5d2e53252483bc0b3f425515f6ee3d0b6f6a0377a14182ec967bcbf3dc290b4a:82277654c75bfa324970a554c597c9bad703253e5ddc004ec9e781ed346ac468&#x27;, &#x27;aib_bronze.equity_ohlcv:9e43e2cce047dcb9e7c4dc4cf7800dd386b05ff2dfc1841a26c3c6527fff2e38:4cb2c73cb0e4029662ae6ca5a9dcccc21e092dc8bbd6af14f1216a59ce1accf6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.87676853830587}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Down 2.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.864535619479991, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.864535619479991, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;c4930cdeefaa464308ee11622467a828bd6c3329160e28bde072e873ee6faf26&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cd6c8c382e62211cd69180b513c2bf8f66342f4ffaeda95c6d2169a1181c5e35&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;809cd6cc2389984b4ba79fac0ddef2757d62204b8f00b876614df850a0c44518&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;4a0acdde4a6ec058eb54b00f1673989f3960ca1cdbe8f229dace40a565146baf&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;469bc4d49bc25917adc5194a35586f18b1606dda5698342a4656d9b019b79088&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d1666336b04fbefb4b8d9823740e5a1f0cd7fb5f6b473af4bb5b124fd951f007&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-28 04:22:11.327000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e39c5d2c7f1c167ebc04d0e1a0abb93f1fcfff297ed1035253f4abf05279f9c4:82cc362f5a86edd1f17bfc15a913a64f076d5306c8d89df3376dd1d3578dd6b0&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:285e0babed2e5b7375e86c0c07a8d6335c0046754ba8dc62dc1bdd0ee341d681:21fea87266327db732ec593cde0e4a0d30df1cd27a5d840a4b0f3004f1f579b4&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0de2bfbd4c282e45088e43939a4c204842a0ad238b5f3dafa1ee2f5a4d312f02:64ec78ff489d16572473956aa107180502c03883eb553cc9ed931423c87e0a38&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0de2bfbd4c282e45088e43939a4c204842a0ad238b5f3dafa1ee2f5a4d312f02:64ec78ff489d16572473956aa107180502c03883eb553cc9ed931423c87e0a38&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:285e0babed2e5b7375e86c0c07a8d6335c0046754ba8dc62dc1bdd0ee341d681:21fea87266327db732ec593cde0e4a0d30df1cd27a5d840a4b0f3004f1f579b4&#x27;, &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:e39c5d2c7f1c167ebc04d0e1a0abb93f1fcfff297ed1035253f4abf05279f9c4:82cc362f5a86edd1f17bfc15a913a64f076d5306c8d89df3376dd1d3578dd6b0&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.07131621916173}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Up 8.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.75%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.745831275208138, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 8.745831275208138, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;c4930cdeefaa464308ee11622467a828bd6c3329160e28bde072e873ee6faf26&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cd6c8c382e62211cd69180b513c2bf8f66342f4ffaeda95c6d2169a1181c5e35&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:285e0babed2e5b7375e86c0c07a8d6335c0046754ba8dc62dc1bdd0ee341d681:21fea87266327db732ec593cde0e4a0d30df1cd27a5d840a4b0f3004f1f579b4&#x27;, &#x27;aib_bronze.equity_ohlcv:37f2f2e364154eb6a2dd56876c26b189e0b5600a55789f2caaeedc5c31bba633:76c590a2b48ebf914f38fa5a09cb5454aa342341ead934262f88286afe64fba4&#x27;, &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;aib_bronze.equity_ohlcv:7ed984efba5470b49e4602d375ec48acc33be5f27bbaaf9a1fb6e4991930c7d2:83a540669a3a4dd57f8b3522c79f6f7d8c6a4ea3fe1a8470ac40dcb36f600d7b&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 92.72190531101923}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Front VIX at 0.90× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.895.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 192, &#x27;epoch_values_hash&#x27;: &#x27;637b18582a2100b88858c4826cb52ed7af506a386349e57d1c70ef17623d94a3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;64618d09e15b7bebe2f5a5cca7764e188932d4d819fd4a83ccea102ed620c5c9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 569, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;851c2cc2af7a40018ac791a3f481c883bc202b24faaf047b8d7d75212e3abf08&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 191, &#x27;epoch_values_hash&#x27;: &#x27;6d3f049b1b83fe6573180dfa161ce6a84dea2858aea0ac3f43e70cf063932beb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e7ec7b22d4df3c216532e3dc85eda120829bebe116fb466f14c7cd6269a7849e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 561, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8e26d3f06ac3ce4bf09fa87e8bbb7e982e0c5edbf61cd4b256f7b6d57edcae89&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-28 04:22:11.327000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:28596268f8eea90309229f611d8806317462858d593312203a52b6be8c922ca2:5cdadc52b1b9a76d69ab79d1d52dfe210d30f2bd74b2b6c1e0e6a043ed801a54&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bc0b24d34ef3339cb533f3b007f3b8fef11025e2ba3069ed44f25b043203f193:4e69b7ebb7fa5e1c89c1e15712e199c5045d756603dee516ff106dc157769f07&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:de09151ec3651494b3c2272730878d174507f9a3329ccf90e694e3a64bbe6de0:f621e91b3ec7581bf92b64e097153ce1d52ec0d3669c09b657c7838d1820be48&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-27&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7462955a2e99f62e2774223fdeee222c6ab89c1c2e3f75c9424a601b57c7e333:de7150040bfe83bd6e34f03f05d92dc6fbe5136a077a4eb5ae09074a0a860d07&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:28596268f8eea90309229f611d8806317462858d593312203a52b6be8c922ca2:5cdadc52b1b9a76d69ab79d1d52dfe210d30f2bd74b2b6c1e0e6a043ed801a54&#x27;, &#x27;aib_bronze.equity_ohlcv:7462955a2e99f62e2774223fdeee222c6ab89c1c2e3f75c9424a601b57c7e333:de7150040bfe83bd6e34f03f05d92dc6fbe5136a077a4eb5ae09074a0a860d07&#x27;, &#x27;aib_bronze.equity_ohlcv:bc0b24d34ef3339cb533f3b007f3b8fef11025e2ba3069ed44f25b043203f193:4e69b7ebb7fa5e1c89c1e15712e199c5045d756603dee516ff106dc157769f07&#x27;, &#x27;aib_bronze.equity_ohlcv:de09151ec3651494b3c2272730878d174507f9a3329ccf90e694e3a64bbe6de0:f621e91b3ec7581bf92b64e097153ce1d52ec0d3669c09b657c7838d1820be48&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8952478283086356}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-27 / 2026-10-28 04:22:03+00:00</li>\n<li>interpretation: Down 4.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.787620538624893, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.787620538624893, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;c080996e5072f824ee86c8f4fad6bc94fd03e341ee4356a4a9b47f2938d20afa&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;289b7a85e57082fde9ae204bbcf50d259d340d32ed8321360a888c6b1e792392&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-28&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;71e9e809d0ee96518972c59154eb2600b03ecce12937f362f34edc1ab6c3b4e3&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;cb737767ce6d30ed3fbf92f995262ad668df954e3f11696c446dbe5686ec0523&#x27;, 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&#x27;aib_bronze.equity_ohlcv:ae8b3cd01bc8db140be05a182a4f0b97a98f941a8b096ec401d082399e7ee820:62cfebd5490fcd3464f9d0ffadd41360bd70f3fc0799d43829be7946f407a403&#x27;, &#x27;aib_bronze.equity_ohlcv:b040e5800b1a967bbd1a66de6780d88c09063cd0a7b022e77a8d64ceab50d88e:0915e39e928273cb1c0e23dc1b4a6d95e62c67f1dcf29754fbb0b87f1e7accbe&#x27;, &#x27;aib_bronze.equity_ohlcv:b3722ed8c28170bb6dfe28d6aa64933d00837ea4d3dd9c370acdbf25f196764b:8781f0c429f586e815b7e7b8fa518d07807a339b620b006336d78a63d239b64f&#x27;, &#x27;aib_bronze.equity_ohlcv:c2d72bd6ef835c03bd6cde14a3db4164f105b4d9bc93adffa26998d8a65d106f:f5fabb895e284b1d3054fafb679b9dcb4555fb6c745526ddbeb37589b7bc424b&#x27;, &#x27;aib_bronze.equity_ohlcv:c659a31ab88046d0281e8c7be8ff7fcf2d3207306a1d7f52cef9c3760a11effb:3783346940f0c2a8cba7929eeb585934bb6f10a77b42510041bc244c250fc678&#x27;, &#x27;aib_bronze.equity_ohlcv:d1a5fdb0fbd79376726a25cb0359209279b64ada7ae94fc49fa799270b757a30:66d9940cba8a3c76f413f6c0c4e93130f0c52ecf873e14dc2be569d1b8849cf0&#x27;, &#x27;aib_bronze.equity_ohlcv:d32dde63da40984e3a6af31add96409787df809ef5aef2826e13eb55ea551463:07ac4cd40b8611c414a7f1cd9a8de1ba347c86654b91e99441bb30818fe69693&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.54703553460389}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: event-specific interpretation rules are not implemented; market probabilities remain descriptive</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: the comparison market set is incomplete or unverified</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; the comparison market set is incomplete or unverified; prediction-market probabilities; thin market liquidity</li>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-27</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-27</td><td class=\"num\">107,666</td><td class=\"num\">24</td><td>—</td><td class=\"num\">5.759</td></tr>\n<tr><td>CISO</td><td>2026-10-27</td><td class=\"num\">602,813</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.9017</td></tr>\n<tr><td>ERCO</td><td>2026-10-27</td><td class=\"num\">1,263,848</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-3.385</td></tr>\n<tr><td>PJM</td><td>2026-10-27</td><td class=\"num\">2,095,934</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.2047</td></tr>\n<tr><td>SOCO</td><td>2026-10-27</td><td class=\"num\">569,612</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-0.1541</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">35.01</td><td class=\"num\">0</td><td class=\"num\">-8.99</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">38.34</td><td class=\"num\">0</td><td class=\"num\">-5.665</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">65.69</td><td class=\"num\">0</td><td class=\"num\">6.693</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">58.99</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>DOM</td><td class=\"num\">109.86</td><td class=\"num\">0</td><td class=\"num\">27.57</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>WESTERN HUB</td><td class=\"num\">82.29</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-10-27</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 1</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>422 benchmarked model identities; 247 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td class=\"num\">24,071,706,976,896</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 8,884,706,663,883</td></tr>\n<tr><td>Kimi K3.1 Pro</td><td class=\"num\">55.1</td><td>$2 / $10</td><td>≥ 1,037,917,072,009</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 549,911,820,439</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 2,757,242,378,152</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 1,919,128,845,804</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 8,332,765,667,268</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 353 eligible configurations.</p>\n<p>Usage window: 2026-09-28 → 2026-10-27. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-28 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;5a8c7732d423b802e0164d864f261e2f57e31ad91de6556dfce10c084b18c921&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;b2bebc000eed5f51cad5e7e13864a8e4e81a59d5a6de1ed8a04c5d76ba77694e&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;afae3cd9c69d7fb738904cd216ed2e3a1f6a1739b22ef537fac8d79a2f3ef97e&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-28 04:19:54&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-28 04:20:02&quot;, &quot;record_count&quot;: 1909, &quot;records_hash&quot;: &quot;db43a8a9499aeb847b8f23b625e8917db997b041aca523cd4a746d202c1e2aa9&quot;, &quot;snapshot_id&quot;: &quot;75eee772e9846a3e706f3a821f772b2ad7c6cbebabed77c0aa5e7cf9d019b01b&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;5059d2cf2b459132d9c93917a9adce8f3e1af65516b08fc6040a36c6502b30f8&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;19e0e09eda764ab3154f616a5bf00d03e0e24e7acc08f4285dfbc3f891fa941e&quot;, &quot;361221f6b4aae6ae549a75539b9c3ac1a4f7effd0dd44e0790ecf36a438e2880&quot;, &quot;f8a4add8fd86df875886860a8a0130c2c6f2346ef2ae7cb6ea1a8cec5fbc030c&quot;, &quot;55a17582b6f56d9fb976659a1dc67d5858c275a014b1eca5e9cd196aac0288a8&quot;, &quot;e5b881753c8359dc103b12c262e049a1722895d5b8ade691e1bd2577609d3a2c&quot;, &quot;7813e7db93a0a5c3b7d82a268e60a40acf638057f870f455cc110dac36331f46&quot;, &quot;c1be1937057fcaae896a913a055b6b68b34991e33f435882c436aac1eb5e8a96&quot;, &quot;6fb21dab2afd4da95cd3f34d084f9dde5ee549100d5534e5e3ded635f8335104&quot;, &quot;6cbfef5a33bd1225aed78ffd1280c9d6132cfd826ba40e1e46707c0806f1db97&quot;, &quot;f8a62048c51823733954f083dc851f7609119d21ec55cb006e5856800e26c37f&quot;, &quot;f8f9459fc0ac77e76fb282e61ebf43ada4661436ac27eead13c8a76a375978ef&quot;, &quot;5b262f6dd844c6aee664ebcfe734bc3b0033672ea629c3ee39fa0391a8526ef4&quot;, &quot;8952049caf0d153d1e1d932d3bb27fbede98ecf15672dbd5b148d936f814c14f&quot;, &quot;ff2db579991ada409c042594257975aa760365b5ed11104875112326db907c97&quot;, &quot;a3be0543060bc441a0ef3e562d225de4ba22b5abc53ff38e4e493caf9ff4c16b&quot;, &quot;c9a68a7458aee13386b47d275522cec00c5415e4d22fbffdec30680510016188&quot;, &quot;efd5b58f6406ab5f3354b8a5acb78e67ce638e65339e71e682191fcfb907edab&quot;, &quot;986694c08f1e797fcb2d85ecca337c755dda1a8ad2d01f365a1f8217ec27b904&quot;, &quot;444910498376b13813e9d4b508bc6f045d83d1ded5781283f4c2a43105e95c8b&quot;, &quot;fccd88a544c7269b14c297fd96e6490ee98d970146d3ed5f761b09a3f2924a72&quot;, &quot;e91d2300ce16fe163db08be5cc6238fa1bab55cdf0849cb9fc6e72455be55390&quot;, &quot;56a6f0f08e338b94ef5f9d9b567329b8109922f873e452a4d1ac989d30f904f9&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-28 04:20:08&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-28 04:20:14&quot;, &quot;record_count&quot;: 818, &quot;records_hash&quot;: &quot;969e73e21587f1b29e34b0ac3eedc1c6ca9dcaf78fa843e088c3bcf0a6d8c446&quot;, &quot;snapshot_id&quot;: &quot;b48ab857fb75890dcfb3b969a579805c50bda8f02e505804d0799bf29ea4b055&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;50741f1967c16994fa3bc0be5a72b4ce04dbbef397a7cae3c602076a46c5c11a&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;4d44c01ae5ba523f3435462d9f5a451f3599bcf0e27e3ba603b31fed922745cb&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-28 04:19:58&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-28 04:20:02&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;fc07b900f2ac1a10a6994328217a62ef4933315976906b2efaddf635a0f7cb06&quot;, &quot;snapshot_id&quot;: &quot;ce42e2c6743de9c632383b156626d3b7cc793e60cee7a8782a8d0b4f3617999c&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;5b9cf99544bf9e247cdf2f30e5f146a4d5407741202f7bab6e4f69a21ce239c7&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;aea8298713e2f73ec1cd564661ee73449bf2f7679f0c08b5249944ce8e00fd33&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-28 04:19:54&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-28 04:20:00&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;c75708602bc5a4831bec38574bbc3afaf76973cf922c4ee5e9b2f66ae8bdf95c&quot;, &quot;snapshot_id&quot;: &quot;f85e2d9841f34ae2e0d64c29fc83af9f1086dc71a0f26faaa56e0b646427fafb&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-28 22:44:45</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">6</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">184</td><td>2026-10-28 04:22:35</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-28 06:30:03</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">161</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-28 04:20:03</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">13</td><td>2026-10-28 23:31:09</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-28 23:40:24</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4800</td><td>2026-10-28 04:22:35</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-28 04:19:51</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">142758</td><td>2026-10-28 04:19:50</td><td>—</td><td>partial: 4 symbols failed: MHVYF.US: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; TOELY.US: history ends 2026-09-16, 29 weekdays</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">148</td><td>2026-10-28 22:10:36</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-28 23:41:04</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-28 04:19:51</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">464</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">665</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1909</td><td>2026-10-28 04:19:51</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">818</td><td>2026-10-28 04:19:51</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-28 04:19:51</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-28 04:19:51</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-28 04:20:09</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-28 06:10:05</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">5691</td><td>2026-10-28 04:19:51</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-28 04:19:50</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-29T06:10:15Z",
      "id": "urn:prexel:issue:44bf3a07-9cd0-5ed9-9cc6-cae537a8e445",
      "summary": "Prexel daily — period ending 2026-10-28. 51 charts: 30 with a read, 21 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 58 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-28-daily-aa6dd31e4ef5.html"
    },
    {
      "_prexel": {
        "content_hash": "6b7f236b5b43bff59302387bb6fdc5a4bcbfd78192536fe2b2afb49a249b7c86",
        "context_hash": "ee0e6edc81d30a8bbdc5b00d6845190bfdc63035e25ef20f33e02ef580024db2",
        "kind": "daily",
        "period_end": "2026-10-27"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 57 (daily)</h1>\n<p>Period: 2026-10-27 → 2026-10-27</p>\n<p>Context hash: <code>ee0e6edc81d30a8bbdc5b00d6845190bfdc63035e25ef20f33e02ef580024db2</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>CLO BBB vs AAA tranches: ▼ Bearish — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>AI-complex correlation regime: ▼ Bearish — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ◆ Mixed — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>PJM load-growth difference: ◆ Mixed — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>N. Virginia power basis: ◆ Mixed — Northern Virginia data-centre power economics (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ◆ Mixed — PJM real-time power-price premium over day-ahead (Near term); Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-27T04:22:51.770608+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 25 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 30 usable / 21 no read — 9 bullish, 12 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:31+00:00</li>\n<li>interpretation: Up 6.3% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 6.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.258864182252166, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 6.258864182252166, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3504229752, &#x27;total_tokens&#x27;: 255182583579764}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.10pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.10276757144686144, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.96099738449662, &#x27;top10_share_change_14d_pp&#x27;: 0.10276757144686144}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 13 cuts, 10 raises.; Fixed-basket price at prior-day token weights: $0.678/Mtok.; Seven-day like-for-like change: -4.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.793178513248719, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 343, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6775990480739644, &#x27;like_for_like_change_7d_pct&#x27;: -4.793178513248719, &#x27;price_cut_model_count&#x27;: 13, &#x27;price_raise_model_count&#x27;: 10}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -0.20%.; Token-weighted effective price: $0.669/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.20069801837729884, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -0.20069801837729884, &#x27;effective_price_usd_mtok&#x27;: 0.6691883614623444, &#x27;matched_model_count&#x27;: 344, &#x27;total_standard_tokens&#x27;: 166701051204284, &#x27;unmatched_token_share&#x27;: 3.5608268899347255}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +154.4%.; Trailing three complete months: 152 new listings (50.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 154.3933054393305, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 154.3933054393305, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 152, &#x27;trailing_3mo_rate&#x27;: 50.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +6.27pp.; Open-weights share of routed standard tokens: 71.4%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-2.25pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 6.266661709136258, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -2.2485321388836184, &#x27;chinese_lab_token_share&#x27;: 68.67121109630419, &#x27;matched_model_count&#x27;: 344, &#x27;openweights_share_change_14d_pp&#x27;: 6.266661709136258, &#x27;openweights_token_share&#x27;: 71.41768427423526}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $48.72/MWh vs prior 14-day $50.35/MWh (-3.2%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.2436074407611675, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 48.71695619047619, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.350116309523806, &#x27;caiso_da_trend_pct&#x27;: -3.2436074407611675}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.73 MMBtu/MWh vs prior 14-day 15.90 (-1.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.0545627196577536, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 15.733041397849462, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 15.900724510694731, &#x27;caiso_heat_rate_trend_pct&#x27;: -1.0545627196577536, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 00:49:33+00:00</li>\n<li>interpretation: PJM total load growth is tracking the CISO/ERCO regional mean within the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +2.51% vs control mean +1.27% (gap +1.24pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 1.2427022584026672, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 2.410923544619664, &#x27;dc_load_premium_pp&#x27;: 1.2427022584026672, &#x27;erco_load_yoy_7d_pct&#x27;: 0.12847372809673233, &#x27;pjm_load_yoy_7d_pct&#x27;: 2.5124008947608654}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +10.34% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.339081439600363, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 10.339081439600363, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ◆ Mixed</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: Dominion-zone congestion is not unusually elevated.</li>\n<li>evidence: Dominion versus Western Hub basis z=-0.316</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The basis z-score falls below the registered congestion threshold.</li>\n<li>data quality: descriptive z not calibrated; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 50, &#x27;dc_basis_z&#x27;: -0.31619418345833367, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Down 16.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -16.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -16.642842998410867, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -16.642842998410867, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;1d233c5087b7c1c4fd041d77a37c45a73de2956c898912858f5c08cdeeb2ebc7&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;19722964b52ed3bb60763df38f7af43ae7ecbd589a4b819510c6063226011719&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b366fc4fa5b2c46951905c00d6801515b1da20b1e7a0117a49ff55cbc868ea3a&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, &#x27;CCJ.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;e7f0258127e2b95ebb1b81e25a01224a14fa35637ad78f816b849d492a7b8079&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d8dfae2e85d4454d2790f2c46293b47b362fae21d2fc05a7dbf272d298b7fb45&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;90633386707f2c6763993484cee24fc19c97e3fa51dead02685ec126bceb6aac&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9cd51fd3a9b52184ab5ded363e9fb7d706dc0377968df4982d2d3a4f200ed4e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;aa5e753b2a833a112001fb112829504ccd82111c8f10bf94ecfe21326f5618cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;LEU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;648d5678d83909e8117726f79dda66d5f510069887ae92a43c4c221f7f7c8aa2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a7838ef3449505141cda77847fe1461a9fa4f891397ebfa29e2f9348ad0ad33a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4592287413542c1e9bb37f6610cde7c14f511f7cd609a9496a2a74119de9f5d5&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, &#x27;OKLO.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;3cee6e2aed913297b1d060053ea52b723af12dceaec6201476d1c61a0102dfde&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ce6a4333f0b0567b8e7ae2d362b82811017f6448c67cef2ccb6cbb8ebecb8cb6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d5b55d7ec708ca77661878972232d870cd15a35f4a43fcfe42bbb31681ca47a6&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, &#x27;URNM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;5f8b1670d0d7e80e4013c245b1f5a1a01f6e1ba04fb2340309e06a0b1ae15cb4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1bbea34652c0f2e50e03624ca5298f0d575c7780ac0b477f8cdf238520a2e94f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3514507d3a6f740a1a8d5e050f735e072f6c8bde8fcdc150ddcd47ff6b1c7690&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: 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weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:19:33+00:00</li>\n<li>interpretation: The real-time minus day-ahead power-price spread is not unusually elevated.</li>\n<li>evidence: Seven-day DA/RT spread bias z=-0.229</li>\n<li>conflicting evidence: A price spread does not measure a load forecast error; supply outages, congestion and fuel costs can also change it.</li>\n<li>What would change this call: The spread-bias z-score falls below the registered threshold.</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; source records not yet linked; weekly mean scaled by daily spread std</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 38, &#x27;current_window_days&#x27;: 7, &#x27;current_window_min_observations&#x27;: 3, &#x27;current_window_n&#x27;: 6, &#x27;da_rt_spread_bias&#x27;: -4.826064284722221, &#x27;da_rt_spread_bias_z&#x27;: -0.2285840188055306, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ◆ Mixed</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and holding steady.</li>\n<li>evidence: CBRE H1 2026 Figure 5 quotes $190-$235/kW/month for 250-500 kW requirements. Calculated midpoint: (190+235)/2 = 212.5, unchanged from the cited Q1 range. The chapter states overall rents held steady; larger deployment tiers are not substituted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;unchanged&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: 212.5, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: 1,016 MW added year over year and rising.</li>\n<li>evidence: CBRE H1 2026 overview Figure 1 (Wholesale Primary Market Fundamentals), Northern Virginia row, Inventory Y-o-Y Change (MW): +1,016.4. This is the annual inventory addition ending 30 June 2026, not the 467.6 MW half-year net absorption or the chapter’s 18-month delivery total. The table reports inventory of 4,496.5 MW; its embedded publisher figure is https://e.infogram.com/69f04b2e-aa60-4094-9cc1-caeb3cb6cf28. No prior annual-addition comparator is asserted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1016.4}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Down 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.6949432273826495, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.6949432273826495, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;9532b915ba86a8da4f4462e1e526278c3d66a77dbb7298036a151394d6626662&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6086a5efd2a09e4305e3eb32609ead2cbdea9180c193d32496ae64ec35576b5b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c261ced6cb510189c9456d4189856dcf1db4305702f389021005b68a8a8c279c&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;e2d816c1d960b742664cd935a39078b0c891b44b8deee67bcfd93feea982dffa&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b2fdbdedc1959f29a6f371945bb05d2a5a38fa96adc85652f03f16a14b047978&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dcb364dc1fc3ca1125e581be4c65a3fd6c9b91b710f7a7a8215461ae9b70f0e0&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9cd51fd3a9b52184ab5ded363e9fb7d706dc0377968df4982d2d3a4f200ed4e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;aa5e753b2a833a112001fb112829504ccd82111c8f10bf94ecfe21326f5618cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;4d346fd99d27288498300f051b400917282ff05425a939fd2995670e92f07ecc&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f50022f2e3ba13d4dfb65328d2eae6b0a54ce953b5a7cfe2a9e4dd63580092d2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7d9d2d2c83790bad281d755047a1c46afbe85cffa38e4138403246924ddb4339&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-27 04:21:41.508000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4499b59cadc218bbf561c0247aed7cf35835c92e18756ae430d86caf24ed9745:2cf790dbd8a021db47268e51b1d56d6e88653e23832e4760a40ced32845c5719&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7d1e321cc96fcc310d94d32e22df62a79949552af75e508277ac5365335e8a9a:873e3103ed25af2e39a41a69557958b0de2eddda0e6aad081848d1db618d3c31&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0b3ff7924e2d12b58a3427044c2da1e05a4578ba72cbda6577aed1c18e051263:03ea0b8058aa2064f9632e0473a0621cc604d4bf9d8f0589a1a79498c207b21e&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:858aa301580dbf9e81a97c5f54142ed864212a84977fe7daf1308c30101a599b:00f94926a385048f3c40e464a859297c9adf139226e5df657f470bc7edd164ff&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8cc20f26346a2fe1b25ca06defb6a604c60f023c0fce767a001038d1081e0deb:f4e7fb2359d350373c375e4df1ffbea0da300a9846ca49140c508b8686f10096&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e743290268ff9c4b1bea4fffbf4275adf838a086368c24eca05fcaa201ad18f:ae7d98368b4481bd849d51305029516731c90610c745e02c65a0985215d7721e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1958e1b3e5be9bdef5b5b30058933b6c8635155375b1861ea3e3b45023466e97:52ff2d3b1ee8766b8710d05f3670e71f7b346764cebc10c96d6c328905d05836&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:c43c03c0168f412d8816aa48b10999ff9cf7ee5bdcdae59bf2fd04277c33d9e5&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:62e0990d228e56a47b8d9108a74218bf60362b1b20d5f755e86f2a64e5e7d194&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0b3ff7924e2d12b58a3427044c2da1e05a4578ba72cbda6577aed1c18e051263:03ea0b8058aa2064f9632e0473a0621cc604d4bf9d8f0589a1a79498c207b21e&#x27;, &#x27;aib_bronze.equity_ohlcv:1958e1b3e5be9bdef5b5b30058933b6c8635155375b1861ea3e3b45023466e97:52ff2d3b1ee8766b8710d05f3670e71f7b346764cebc10c96d6c328905d05836&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, 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&#x27;aib_bronze.equity_ohlcv:8cc20f26346a2fe1b25ca06defb6a604c60f023c0fce767a001038d1081e0deb:f4e7fb2359d350373c375e4df1ffbea0da300a9846ca49140c508b8686f10096&#x27;, &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:c43c03c0168f412d8816aa48b10999ff9cf7ee5bdcdae59bf2fd04277c33d9e5&#x27;, &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.58520185612439}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.24% and falling.</li>\n<li>evidence: CBRE H1 2026 Northern Virginia chapter states that vacancy fell to 0.24%. Period ends 30 June 2026; this is a dated vacancy snapshot. No precise prior vacancy is supplied in this chapter.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.24}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Down 4.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.59%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.592755911178347, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.592755911178347, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;AMZN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;df972b400b9d35797d14bdec3ad2fcfb973920f52530be52eb36c36557c9e2fb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d77ca9e5528cbe793f7df3cd2c029b6eeab77a382459cc03cb6c0bf7d005c747&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c8a1aa0a80e35c465631f9cd3853400ab7822412a6d067dfe6af304d27008f54&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, &#x27;GOOGL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;9f874af846a31444ebc857fa38c93c4828c8689fbacf482903f4f0886ec0fd63&#x27;, 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Down 35.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -35.78%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -35.779012373857555, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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&#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;c96d104f55520ee8a2cb61dcab4f193cde51827a8332d4c393c9494cecc7c69e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b1caaf005fa4b72a60ca8a74d5515572fa1622e5b2c5fa8d7b79974e2d791f7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-27&#x27;, &#x27;row_count&#x27;: 397, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3b2b9c005cf7b501528e49725b4e3df17e295a5175b9a37279be1378138992e9&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9cd51fd3a9b52184ab5ded363e9fb7d706dc0377968df4982d2d3a4f200ed4e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;aa5e753b2a833a112001fb112829504ccd82111c8f10bf94ecfe21326f5618cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;0040cca1c44b7459675bb4c4a2042e75f5f4d5eae669756f6d8a6958081b1a60&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;018be8d6be5674552dd5379df558f07ab6d7cf742e297e85b79a5fb2b5853700&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;70e50b4f8b4f0929bc42a4c394de2df634ee4655772a7f8600bea7a8770e1f87&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;2f84aed8b8e27b3ba7d23ffdea11e635ae7b198cdc48db1fa84fdc1c7f8b0526&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;c4b2d31a5decbb89a357309462b56ef610faa4f6d8053c31d3cca5edaa8f610e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;row_count&#x27;: 505, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6f28daf2ac6528234e8862e492449f197321ac10a3c39fe584001cf1bb4f517a&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-27 04:21:41.508000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e0e6b24ad48cabaf3c1a215e198a433bb4734f6e6d72a5057e3c5b56bafd7d14:d35bc6e64738a69bcfabebe26b4c6b3f28e6868eb0db29b48d00b31f2ed50313&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dba0ce10756c8c4e9b8fd2e6af55d0d876eaa1f4ef6447c0d14f562eaba96d3d:fe4c37044d5d5e3ca91fbf9d0aa079c22cf836a22438f232061b3bd02e170222&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bc532dd51fe9c0de62111cdc0921bc474b26ad34d3107997c2800aa163ff16d6:4bda8644ee49ec174e9bc38697a4b7c694e672912ac461fb962101aa3295fa6a&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bea96ebd337b75202491d82167ebfa73c6c071098ab167d5e03aea1d37706402:68bfab0d411801e9bc13b2675d005cb8a35db575a4bd80879c3a1133b6910182&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a9c633382c1de1c75ec748493a84f42690ab8b34ac2817a117b6c5a3af33c2ce:08dbe03b280713229f370495206e8203242af9d9461a0abfcaed5767ddd34be8&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b7ec2a2e4fc5d0c4a7d427fa3651edd04c8f5b0f47d7ea85770e2fb762f32948:e994159835f5273342fa4d02e3aacfbce17ec40339e95511d1dc8e2534f51b5c&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e743290268ff9c4b1bea4fffbf4275adf838a086368c24eca05fcaa201ad18f:ae7d98368b4481bd849d51305029516731c90610c745e02c65a0985215d7721e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Down 5.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.607110324034082, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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11.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -11.76%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -11.75509405657149, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -11.75509405657149, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:a15b51ecb0fba80e3e5bdcb6f96bd7aadbeda8a7deb76a57c5a6ecb492379e43:54e09e2bd651a24bbe448c78a9d9575e5f76667abf98a656d957737e3b22dd67&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 123.8228301482169}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ▼ Bearish</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Down 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:19bb7cd58243ef6826ea57cd47d94eda7e81fec1755539920330a9b23d967d22:72d8b6659561b50768c1bc7decf3742dd7eeac3a2f574d478353b15a94071fd5&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:9f22db1ca0e2cdac75ffe11b59f4a630a9a2c9e22ad3a2c4159b60efd2ffc4e1:df589a287b0254b9af9f96d45b3a854285a1429603107027de3b41d2b03ae707&#x27;, &#x27;aib_bronze.equity_ohlcv:db05dc8a058ccc8eb6303041d043fcdd618ca3777f68303ab8bf7f2019c5f505:3fe8a7b0c0d2462421969e8bc9c6a4726309c01394e3858beb2a5a80378f309a&#x27;, &#x27;aib_bronze.equity_ohlcv:f52ed34a0041725c3e5d4422533ee03496c16ce8fa7effab43d4cc7ef51deb69:8b0a9c46666f6b1c7c277dce1864c52184aa16f7b8ac4fca295eb5a248290284&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.6542310517575}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ▼ Bearish</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: The AI complex is trading as one narrative — median pairwise correlation sits in the top quintile of its two-year history.</li>\n<li>evidence: 63-day median pairwise correlation: 0.302.; Two-year own-history percentile: 80.0.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 80.04115226337449, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.30207899417164585, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Down 1.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-27 04:21:41.508000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9536dfb9b55f9c2dbf1c22e30790a37919186bbaa57e1e99ffeffef2f5c6b54f:0a5645696bc992b6d41b2d8c38c83be2f6b65c08afeed4018f6bea4c2fe50319&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b040e5800b1a967bbd1a66de6780d88c09063cd0a7b022e77a8d64ceab50d88e:0915e39e928273cb1c0e23dc1b4a6d95e62c67f1dcf29754fbb0b87f1e7accbe&#x27;, 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&#x27;aib_bronze.equity_ohlcv:9536dfb9b55f9c2dbf1c22e30790a37919186bbaa57e1e99ffeffef2f5c6b54f:0a5645696bc992b6d41b2d8c38c83be2f6b65c08afeed4018f6bea4c2fe50319&#x27;, &#x27;aib_bronze.equity_ohlcv:b040e5800b1a967bbd1a66de6780d88c09063cd0a7b022e77a8d64ceab50d88e:0915e39e928273cb1c0e23dc1b4a6d95e62c67f1dcf29754fbb0b87f1e7accbe&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.93019026784087}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Up 3.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.82%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.8208945653189996, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 3.8208945653189996, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: 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&#x27;4f5c9ccc417cf8e71aecd7700925268cedb2e9ff89578886ff7d4ee54a35b8af&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-27 04:21:41.508000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;aib_bronze.equity_ohlcv:5d2e53252483bc0b3f425515f6ee3d0b6f6a0377a14182ec967bcbf3dc290b4a:82277654c75bfa324970a554c597c9bad703253e5ddc004ec9e781ed346ac468&#x27;, &#x27;aib_bronze.equity_ohlcv:6e743290268ff9c4b1bea4fffbf4275adf838a086368c24eca05fcaa201ad18f:ae7d98368b4481bd849d51305029516731c90610c745e02c65a0985215d7721e&#x27;, &#x27;aib_bronze.equity_ohlcv:e415ad537fac0af95cdcb6367d2d683472b3d93f048e60a66a460eff55de3ab9:2b8dc3044a93328ec91fbfb2b141e7a30f39b52115eac673ec363025b6b9bf8e&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 100.36679115178136}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Down 3.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.53%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.5304498535612794, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -3.5304498535612794, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9cd51fd3a9b52184ab5ded363e9fb7d706dc0377968df4982d2d3a4f200ed4e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;aa5e753b2a833a112001fb112829504ccd82111c8f10bf94ecfe21326f5618cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;2bb57d7d28364f6e77754c2107154b53f84d9da948c5ff78640dc5d5238c5626&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0b385a9460cd793ab8d6a02e0071116739d52aaee46b6c27a03fb4c720139728&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;86de50859972e28215dbfa8f6b1882959b4f7de719a7f07bc449c88ab1d2c8cf&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-26 21:55:53.224000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e39c5d2c7f1c167ebc04d0e1a0abb93f1fcfff297ed1035253f4abf05279f9c4:82cc362f5a86edd1f17bfc15a913a64f076d5306c8d89df3376dd1d3578dd6b0&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e743290268ff9c4b1bea4fffbf4275adf838a086368c24eca05fcaa201ad18f:ae7d98368b4481bd849d51305029516731c90610c745e02c65a0985215d7721e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a05c3a82248f89360a2ad24871d387728b2ba714dcb453702df8c496b1184bb6:8aeb6d5b5c069fba01f446e96db453018aa210901b1abf041fc80cb70e695fe1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;aib_bronze.equity_ohlcv:6e743290268ff9c4b1bea4fffbf4275adf838a086368c24eca05fcaa201ad18f:ae7d98368b4481bd849d51305029516731c90610c745e02c65a0985215d7721e&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:a05c3a82248f89360a2ad24871d387728b2ba714dcb453702df8c496b1184bb6:8aeb6d5b5c069fba01f446e96db453018aa210901b1abf041fc80cb70e695fe1&#x27;, &#x27;aib_bronze.equity_ohlcv:e39c5d2c7f1c167ebc04d0e1a0abb93f1fcfff297ed1035253f4abf05279f9c4:82cc362f5a86edd1f17bfc15a913a64f076d5306c8d89df3376dd1d3578dd6b0&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.35785310584991}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Up 8.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.63%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.629146474238937, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 8.629146474238937, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9cd51fd3a9b52184ab5ded363e9fb7d706dc0377968df4982d2d3a4f200ed4e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-27 04:21:41.508000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3ab8d403e1a0a2d9c8da898ffd65dd976bab1b3ba9d451ea079800544ccc4611:ae53417159d50ec42e79728c5a2b8a211a8722f19e34cde2841419365c32d07d&#x27;, &#x27;aib_bronze.equity_ohlcv:6e743290268ff9c4b1bea4fffbf4275adf838a086368c24eca05fcaa201ad18f:ae7d98368b4481bd849d51305029516731c90610c745e02c65a0985215d7721e&#x27;, &#x27;aib_bronze.equity_ohlcv:7ed984efba5470b49e4602d375ec48acc33be5f27bbaaf9a1fb6e4991930c7d2:83a540669a3a4dd57f8b3522c79f6f7d8c6a4ea3fe1a8470ac40dcb36f600d7b&#x27;, &#x27;aib_bronze.equity_ohlcv:83ae4e283ead893cd488190f4ea5f9ca8c9239293e7b870069b8b25a9f90bc68:754a13cb8e614a699012521b90b411e0912619e296e34e64fe5c62cab2073e22&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 92.6224142598237}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Front VIX at 0.92× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.922.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 191, &#x27;epoch_values_hash&#x27;: &#x27;968b1cf999ec4c1080d1edc2e52ebc8a023a8ea4150a734bfc64d5899e8a4222&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;52cf4f517cd18ce563764c18aeaf5e45df9ac4fc8486dd613d02c1b8c1fbc523&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 568, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c791adae2eb69fe6600de9aeec4ebafc83e7a501dd50f10b042e648d860b9e2d&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;e31c0602c8f3b456207b7868d7d41290e0e2d7938b4447fae95767425a608ca5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;89b017ee39d779ddede64bdebe55fa2324e28030d230b125213fa198070c9cb4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 560, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f24f9700f16be88ce469f5d07e1b0223999f52075b5fce382fcf53239d526ba7&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-25&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-26 21:55:53.224000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:28596268f8eea90309229f611d8806317462858d593312203a52b6be8c922ca2:5cdadc52b1b9a76d69ab79d1d52dfe210d30f2bd74b2b6c1e0e6a043ed801a54&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-25&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bc0b24d34ef3339cb533f3b007f3b8fef11025e2ba3069ed44f25b043203f193:4e69b7ebb7fa5e1c89c1e15712e199c5045d756603dee516ff106dc157769f07&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3484a1dd5072a3fa5000efb82e68d1c099c8136e197feb1f35047fcefbc0f826:53c75e78e970d1bd66b31a3e5f1e43283586a2d413c462eff64b19466d0c148c&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-26&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d417575af57d8ecf15f73b68db10cd27d3e2323ffd054305dff61d5af20625:1ba7da60e9bed19ef69db7f46f398cbc60a15baaa4e4b8bdcdd9cece4ffd9213&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d417575af57d8ecf15f73b68db10cd27d3e2323ffd054305dff61d5af20625:1ba7da60e9bed19ef69db7f46f398cbc60a15baaa4e4b8bdcdd9cece4ffd9213&#x27;, &#x27;aib_bronze.equity_ohlcv:28596268f8eea90309229f611d8806317462858d593312203a52b6be8c922ca2:5cdadc52b1b9a76d69ab79d1d52dfe210d30f2bd74b2b6c1e0e6a043ed801a54&#x27;, &#x27;aib_bronze.equity_ohlcv:3484a1dd5072a3fa5000efb82e68d1c099c8136e197feb1f35047fcefbc0f826:53c75e78e970d1bd66b31a3e5f1e43283586a2d413c462eff64b19466d0c148c&#x27;, &#x27;aib_bronze.equity_ohlcv:bc0b24d34ef3339cb533f3b007f3b8fef11025e2ba3069ed44f25b043203f193:4e69b7ebb7fa5e1c89c1e15712e199c5045d756603dee516ff106dc157769f07&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.9222668004012036}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-26 / 2026-10-27 04:21:33+00:00</li>\n<li>interpretation: Down 5.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.21%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.210427910607263, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -5.210427910607263, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;335ec9218aa26b5f3544b831d073af71425614c0a5380553b0ffabd594693f20&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;139307cf24e11fd282f67d9a6ee3cb45c29e3329d31b8ab3320cbf8825ee22a9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-27&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;20bfdb54219ceb5f590bfa84e358907ecf935eed163887c43a13b1160ef45442&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;27523728b656a792c7c38fe0b23c0c9ae55d53234df75bc6b5b1add881d0fad1&#x27;, 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&#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:5fba0f464a83a643d893500ae3024458daed611b8e3b7984327b528b0934262d:00159a9664e669cb7d93fdf7d3507ae440bb352b2bce5f2a825494f9f5830d89&#x27;, &#x27;aib_bronze.equity_ohlcv:ae8b3cd01bc8db140be05a182a4f0b97a98f941a8b096ec401d082399e7ee820:62cfebd5490fcd3464f9d0ffadd41360bd70f3fc0799d43829be7946f407a403&#x27;, &#x27;aib_bronze.equity_ohlcv:b040e5800b1a967bbd1a66de6780d88c09063cd0a7b022e77a8d64ceab50d88e:0915e39e928273cb1c0e23dc1b4a6d95e62c67f1dcf29754fbb0b87f1e7accbe&#x27;, &#x27;aib_bronze.equity_ohlcv:c5a8a8205dc7cf5139bc7e24a4bff132dc15744ed7a4d2e6d09c09a17bd75425:c455e43c8248d85a555f777b11e1f7db41f15d71131f37a06fc8574f33da0037&#x27;, &#x27;aib_bronze.equity_ohlcv:d1a5fdb0fbd79376726a25cb0359209279b64ada7ae94fc49fa799270b757a30:66d9940cba8a3c76f413f6c0c4e93130f0c52ecf873e14dc2be569d1b8849cf0&#x27;, &#x27;aib_bronze.equity_ohlcv:d32dde63da40984e3a6af31add96409787df809ef5aef2826e13eb55ea551463:07ac4cd40b8611c414a7f1cd9a8de1ba347c86654b91e99441bb30818fe69693&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.09165732806976}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: event-specific interpretation rules are not implemented; market probabilities remain descriptive</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: the comparison market set is incomplete or unverified</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; the comparison market set is incomplete or unverified; prediction-market probabilities; thin market liquidity</li>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-26</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-26</td><td class=\"num\">108,073</td><td class=\"num\">24</td><td>—</td><td class=\"num\">11.81</td></tr>\n<tr><td>CISO</td><td>2026-10-26</td><td class=\"num\">596,216</td><td class=\"num\">24</td><td>—</td><td class=\"num\">2.506</td></tr>\n<tr><td>ERCO</td><td>2026-10-26</td><td class=\"num\">1,252,428</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.05624</td></tr>\n<tr><td>PJM</td><td>2026-10-26</td><td class=\"num\">2,088,451</td><td class=\"num\">24</td><td>—</td><td class=\"num\">2.36</td></tr>\n<tr><td>SOCO</td><td>2026-10-26</td><td class=\"num\">557,239</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.799</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">48.38</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">42.46</td><td class=\"num\">0</td><td class=\"num\">-5.928</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.57</td><td class=\"num\">0</td><td class=\"num\">-4.811</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">69.42</td><td class=\"num\">0</td><td class=\"num\">6.61</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">62.81</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>DOM</td><td class=\"num\">137.80</td><td class=\"num\">0</td><td class=\"num\">20.62</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>WESTERN HUB</td><td class=\"num\">117.18</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-10-26</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 1</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>422 benchmarked model identities; 247 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td class=\"num\">23,177,706,728,645</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 8,457,325,903,150</td></tr>\n<tr><td>Kimi K3.1 Pro</td><td class=\"num\">55.1</td><td>$2 / $10</td><td>≥ 819,498,526,677</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 599,092,440,633</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 2,784,340,693,257</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 1,783,303,041,417</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 7,949,630,576,637</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 353 eligible configurations.</p>\n<p>Usage window: 2026-09-27 → 2026-10-26. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-27 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;2fef322bd85e959141c737b056d7367358c917e3357faf6c9ebd4aa13bd58d99&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;6b986ea37807b5db9195a14e59c13cfb281cb4013e2b72ab1e44db7c6a83850f&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;a03addb7eb07be70468e6590803f0c10109b51cbfe3874e392223f26bba8ea51&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-27 04:19:33&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-27 04:19:41&quot;, &quot;record_count&quot;: 1903, &quot;records_hash&quot;: &quot;f77c3d7eacc7108ff2e76ca2316a162a99ffdb94f954b842817c32e17713d979&quot;, &quot;snapshot_id&quot;: &quot;2f445cfeec3c69ca54023503f6b96a9d3ae7be72333efd37d79cddaed84ccd2e&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;2e293a1df17ce5f84c752ba86e6f99b3c89c862617a6b2fc5dae976b58be966e&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;174cc09f5a6d19db86411d5ffef55017057fd454e89e36188c50e1fd3b6cef33&quot;, &quot;e9cfac168e713859279e9ddebcaa67baee6056142930488e892c5c92450d3c64&quot;, &quot;d2215c28a5dca15a5be28271b1f9be0cf0098cc4c3917ae8cb8e6811fa8a38aa&quot;, &quot;7c2ffa1b020eec430c8dedb5d99f3fca02e3f8f9048859bcb6965e735195dfdf&quot;, &quot;52d54703da1c3198ec3af964e58f2c482fae2fa128cd423cdd0d4fa95ca7dd1e&quot;, &quot;64b5e17432a974c5619e94df28c892dbb3aa7df23f2e2717d238b1c36033f9be&quot;, &quot;30dbe9484ac9deb67e8eb430cf8eede4a6f5e7279b36e1fd3e07006e2ab06693&quot;, &quot;8c4dd9d11481a6faf2dad48a9e650637f1e3bc047d623bde7f80d6a4a7f77102&quot;, &quot;dbe01834a20f191175a5d3a589dd47468a9ab5ebbdc626fe32438421f5f1f1cb&quot;, &quot;33a4811caed933a268d92147c71a6dcae417f1b3c697892e369186559869d24c&quot;, &quot;2744e62398fe64dce4c556afa91ed1a2e9fa03953a1ea3f8c536b7357a8495c0&quot;, &quot;24c0f4eeff86f9665b0e48936ca940ea7ff07ddc036aa870c1e58a6f78254f7f&quot;, &quot;02735d944a4ce4728370fe9829405e76de82390d0cfbfef88119fdcb3f5659d7&quot;, &quot;595cc08112bfb30229c28c2a171da6ace4a149e9e6d05b55024ec050946e4220&quot;, &quot;e628289edcf8db7d41a9a9bae8b4c65f5937542c22c198e3035c28a039691b00&quot;, &quot;b28e2b7d3742cff4cfb431a54cbf8c6d2fb6d6631d99f099cef3ef12fac1c892&quot;, &quot;44ac591f8f9a65694249c036f12d7e1bcf5d7aab15297a797b6c65deb40b3c83&quot;, &quot;112d7bac82e9230a37e1ffbf0185b501e17284b7d2f0d191e08bd080e2abdb1d&quot;, &quot;b14d13830446a1c28f4ded7889febb32d36a87e198ff8bef5c5793d1df7f630d&quot;, &quot;ce468a8302d096be2d9c8501e953b4c5000bc7eeabf630a9362ff119f45ff033&quot;, &quot;6a7746e09ab960ac80c574ca98cac140ddf029765f16c710e830837142c9b68a&quot;, &quot;34bfe1d6aef488281d26e3f8a55bf2ce19b3dded4878ea16249eacd608f867a6&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-27 04:19:43&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-27 04:19:45&quot;, &quot;record_count&quot;: 798, &quot;records_hash&quot;: &quot;c2607aa6e3f537d98f1494926b1bf7a9a8fbb971621adf3ccc9b097df60dc360&quot;, &quot;snapshot_id&quot;: &quot;31e4e255f8b4a0bd45cefe16d10a6054881aef50571974acfaa4e8b09cf7da0b&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;81d5b502c1663f2a4256d6371add010bc38d4897a8c1ff9e115fe9708322f65d&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;a9a8cfa1fba9de90eeecf71c428c46475a7e7f99f6a08bb7209f35d74d3beee4&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-27 04:19:33&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-27 04:19:41&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;b71a5cd34fc5e86835672e29b93efba92b61f4fe42b832bd1764aee9a72d1180&quot;, &quot;snapshot_id&quot;: &quot;413bafab912daaa9d0033037456bf0fa27f4ff678282b3c3e5f5cdeb3869c703&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;d19dc8ccbf7ca2e2d3a87037e531da5152ad3b37176339210806b43203814061&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;918019e65cd69f38c0ba0b151df938391754af1526c7c5bb20e7969cc8530cf0&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-27 04:19:33&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-27 04:19:40&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;aa59292cc2f0a814b905d561662c2a8df1fa230bab3a76a5103b5841e2327913&quot;, &quot;snapshot_id&quot;: &quot;f43d19f804a438eecb64d88676f1a9db1b538e8d3318cfbfbd89cbe5aa3ae827&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-27 21:57:12</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">6</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">171</td><td>2026-10-27 04:22:04</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-27 06:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">165</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">1</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-27 04:19:42</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">12</td><td>2026-10-27 23:36:35</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-27 23:08:04</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4765</td><td>2026-10-27 04:22:04</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-27 04:19:30</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">142498</td><td>2026-10-27 04:19:29</td><td>—</td><td>partial: 4 symbols failed: MHVYF.US: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; TOELY.US: history ends 2026-09-16, 28 weekdays</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">121</td><td>2026-10-27 21:45:11</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-27 23:41:07</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-27 04:19:30</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">464</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">663</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1903</td><td>2026-10-27 04:19:30</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">798</td><td>2026-10-27 04:19:30</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-27 04:19:30</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-27 04:19:30</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-27 04:19:45</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-27 06:10:05</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-27 04:19:30</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-27 04:19:29</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-28T06:10:15Z",
      "id": "urn:prexel:issue:7c438643-fbce-5946-88a6-6161f6872c7a",
      "summary": "Prexel daily — period ending 2026-10-27. 51 charts: 30 with a read, 21 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 57 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-27-daily-6b7f236b5b43.html"
    },
    {
      "_prexel": {
        "content_hash": "336dd6958d2a592e8ab14953e311a329e5d7948400254a172163efbe895e1941",
        "context_hash": "0ae38b7de298361a2fb8ac54b8fee1c2e483d47b1c50e6d53a9ea9908842c693",
        "kind": "daily",
        "period_end": "2026-10-26"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 56 (daily)</h1>\n<p>Period: 2026-10-26 → 2026-10-26</p>\n<p>Context hash: <code>0ae38b7de298361a2fb8ac54b8fee1c2e483d47b1c50e6d53a9ea9908842c693</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Evidence revised; cause unclassified. Published 2026-10-26T04:15:03.763528+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>AI-complex correlation regime: ▼ Bearish — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Implied OpenAI valuation: ⊘ No read — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>B200 vs H100 rental price: ⊘ No read — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>GPU rental availability: ⊘ No read — GPU rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>GPU marketplace depth: ⊘ No read — GPU rental lessor pricing power (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>H100 spot rental price: ⊘ No read — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>PJM electricity demand: ⊘ No read — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — PJM real-time power-price premium over day-ahead (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-10-26T09:13:49.876810+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence revised; cause unclassified. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-26T10:00:23.752519+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-26T11:44:59.093372+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence revised; cause unclassified. Published 2026-10-26T11:44:59.093372+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-26T14:14:04.176824+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>AI-complex correlation regime: ▼ Bearish — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Implied OpenAI valuation: ⊘ No read — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>B200 vs H100 rental price: ⊘ No read — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>GPU rental availability: ⊘ No read — GPU rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>GPU marketplace depth: ⊘ No read — GPU rental lessor pricing power (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>H100 spot rental price: ⊘ No read — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>PJM electricity demand: ⊘ No read — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — PJM real-time power-price premium over day-ahead (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-10-26T14:49:37.101605+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Colo asking rents — N. Virginia: ◆ Mixed — landlord pricing power in Northern Virginia colocation (Quarterly); New evidence; Evidence eligibility changed. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); New evidence; Evidence eligibility changed. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — PJM real-time power-price premium over day-ahead (Near term); Evidence revised; cause unclassified. Published 2026-10-26T15:43:53.872115+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>AI-complex correlation regime: ▼ Bearish — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Implied OpenAI valuation: ⊘ No read — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Colo asking rents — N. Virginia: ◆ Mixed — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>B200 vs H100 rental price: ⊘ No read — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>GPU rental availability: ⊘ No read — GPU rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>GPU marketplace depth: ⊘ No read — GPU rental lessor pricing power (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>H100 spot rental price: ⊘ No read — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>N. Virginia power basis: ◆ Mixed — Northern Virginia data-centre power economics (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>PJM electricity demand: ⊘ No read — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ◆ Mixed — PJM real-time power-price premium over day-ahead (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-10-26T19:33:28.322460+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); New evidence; Evidence eligibility changed. Published 2026-10-26T19:39:28.897882+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Evidence revised; cause unclassified. Published 2026-10-26T21:57:32.367331+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 51 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 30 usable / 21 no read — 10 bullish, 11 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet; provider population incomplete</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider population incomplete; spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:30+00:00</li>\n<li>interpretation: Up 7.1% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 7.13%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.126414372134571, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 7.126414372134571, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3465525425, &#x27;total_tokens&#x27;: 254224160494270}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.25pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.2481388996229441, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.01160091115128, &#x27;top10_share_change_14d_pp&#x27;: 0.2481388996229441}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 6 cuts, 4 raises.; Fixed-basket price at prior-day token weights: $0.678/Mtok.; Seven-day like-for-like change: -1.44%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.4390651800087362, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 343, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6784658531722126, &#x27;like_for_like_change_7d_pct&#x27;: -1.4390651800087362, &#x27;price_cut_model_count&#x27;: 6, &#x27;price_raise_model_count&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: +0.34%.; Token-weighted effective price: $0.670/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.3358516822944857, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 0.3358516822944857, &#x27;effective_price_usd_mtok&#x27;: 0.669543433424822, &#x27;matched_model_count&#x27;: 343, &#x27;total_standard_tokens&#x27;: 163325899198798, &#x27;unmatched_token_share&#x27;: 3.581372083798727}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-25 04:13:00+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +154.4%.; Trailing three complete months: 152 new listings (50.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 154.3933054393305, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 154.3933054393305, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 152, &#x27;trailing_3mo_rate&#x27;: 50.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +4.38pp.; Open-weights share of routed standard tokens: 71.4%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-2.33pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 4.383493843483365, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -2.329541265286977, &#x27;chinese_lab_token_share&#x27;: 68.46057654399303, &#x27;matched_model_count&#x27;: 343, &#x27;openweights_share_change_14d_pp&#x27;: 4.383493843483365, &#x27;openweights_token_share&#x27;: 71.35961399551293}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $48.47/MWh vs prior 14-day $51.56/MWh (-6.0%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.996654357049193, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 48.46908351190476, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 51.56101964285715, &#x27;caiso_da_trend_pct&#x27;: -5.996654357049193}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.52 MMBtu/MWh vs prior 14-day 16.42 (-5.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.495994037337454, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 15.517215561542278, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 16.41963788040155, &#x27;caiso_heat_rate_trend_pct&#x27;: -5.495994037337454, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 11:41:40+00:00</li>\n<li>interpretation: PJM total load growth exceeds the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +3.19% vs control mean +1.19% (gap +2.00pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 2.0007973718848837, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 3.392791164578043, &#x27;dc_load_premium_pp&#x27;: 2.0007973718848837, &#x27;erco_load_yoy_7d_pct&#x27;: -1.005065395051585, &#x27;pjm_load_yoy_7d_pct&#x27;: 3.194660256648113}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +11.39% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.388002635016454, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 59628.0, &#x27;nova_load_yoy_7d_pct&#x27;: 11.388002635016454, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ◆ Mixed</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: Dominion-zone congestion is not unusually elevated.</li>\n<li>evidence: Dominion versus Western Hub basis z=-0.580</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The basis z-score falls below the registered congestion threshold.</li>\n<li>data quality: descriptive z not calibrated; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 49, &#x27;dc_basis_z&#x27;: -0.5801839273754368, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Down 19.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -19.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -19.102026563413823, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -19.102026563413823, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, 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weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-25 / 2026-10-26 21:53:32+00:00</li>\n<li>interpretation: The real-time minus day-ahead power-price spread is not unusually elevated.</li>\n<li>evidence: Seven-day DA/RT spread bias z=-0.249</li>\n<li>conflicting evidence: A price spread does not measure a load forecast error; supply outages, congestion and fuel costs can also change it.</li>\n<li>What would change this call: The spread-bias z-score falls below the registered threshold.</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; source records not yet linked; weekly mean scaled by daily spread std</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;baseline_n&#x27;: 37, &#x27;current_window_days&#x27;: 7, &#x27;current_window_min_observations&#x27;: 3, &#x27;current_window_n&#x27;: 7, &#x27;da_rt_spread_bias&#x27;: -5.813378910714284, &#x27;da_rt_spread_bias_z&#x27;: -0.24850965581189904, &#x27;z_min_observations&#x27;: 30}</li>\n</ul>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ◆ Mixed</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and holding steady.</li>\n<li>evidence: CBRE H1 2026 Figure 5 quotes $190-$235/kW/month for 250-500 kW requirements. Calculated midpoint: (190+235)/2 = 212.5, unchanged from the cited Q1 range. The chapter states overall rents held steady; larger deployment tiers are not substituted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;unchanged&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: 212.5, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: 1,016 MW added year over year and rising.</li>\n<li>evidence: CBRE H1 2026 overview Figure 1 (Wholesale Primary Market Fundamentals), Northern Virginia row, Inventory Y-o-Y Change (MW): +1,016.4. This is the annual inventory addition ending 30 June 2026, not the 467.6 MW half-year net absorption or the chapter’s 18-month delivery total. The table reports inventory of 4,496.5 MW; its embedded publisher figure is https://e.infogram.com/69f04b2e-aa60-4094-9cc1-caeb3cb6cf28. No prior annual-addition comparator is asserted.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1016.4}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Down 4.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.82%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.82352364475852, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.82352364475852, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, 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&#x27;history_values_hash&#x27;: &#x27;b2fdbdedc1959f29a6f371945bb05d2a5a38fa96adc85652f03f16a14b047978&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3979af91a77cbd4448480c1a7d665d2db47477c9b1e727b52673fb6d3c8b1504&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9cd51fd3a9b52184ab5ded363e9fb7d706dc0377968df4982d2d3a4f200ed4e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b11d1d76d8f881fabe4e379819220bb5cb21c6c33a82e164953047e464a12e1c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;4d346fd99d27288498300f051b400917282ff05425a939fd2995670e92f07ecc&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f50022f2e3ba13d4dfb65328d2eae6b0a54ce953b5a7cfe2a9e4dd63580092d2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6f6bba60bf1d20a98883eae636c987106737be50680f9e547b3ec165566b7084&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-26 14:12:42.005000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3640e63071c71324239a51857a62ba89b31a0ee80bd869cd78b95110a3ba0f7f:35db0034de091396e88489061419b073449e7cfff3610e4bed5b19ff08776e5a&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1e0df662f755fd24fae7258febe62238747f4d1df5bc4de33475f9da76c8d8b5:743018c62d940f0ce4ab800322d02dec95c3c5bdc06ad3b687d9ef34224e21fc&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3c2c3640d1391080a005f887da93dd2861d9aef6f5b1bf33a7a209a247e48c8c:7f20253450f40ce733601c17f2339e153df78e6004c7f2362fecd05d2e4b86bc&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:acb605e063227e55e3e0a3ace5bdfe26cb3ebb135ff0ad20849297e59474837a:41586313a9ba6794bc730460ea0e7923325f7ceab08935086fdde51f5448c11b&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:380d2598e96ab4834253d7c244f74079075010e76c17e5eb07d8813bdcd589a2:3f7104105daa819140af81b0cc80b2a53a82305951cfc666748979d899627d0e&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:d93afb60fc633b7628868e63a1b18bae4175b40401a5780d43a37fcb0feb85f3&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:26ea3306a6b4732627e4a5f3bd3822fba9a798328e2d996b00324db4c7d84331:95386bb80263351c1b4d28639255673c53635ae52b01b986f7d4fa9701e88145&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:c43c03c0168f412d8816aa48b10999ff9cf7ee5bdcdae59bf2fd04277c33d9e5&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:c43c03c0168f412d8816aa48b10999ff9cf7ee5bdcdae59bf2fd04277c33d9e5&#x27;, &#x27;aib_bronze.equity_ohlcv:acb605e063227e55e3e0a3ace5bdfe26cb3ebb135ff0ad20849297e59474837a:41586313a9ba6794bc730460ea0e7923325f7ceab08935086fdde51f5448c11b&#x27;, &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.36315419723982}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-06-30 / 2026-08-27 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.24% and falling.</li>\n<li>evidence: CBRE H1 2026 Northern Virginia chapter states that vacancy fell to 0.24%. Period ends 30 June 2026; this is a dated vacancy snapshot. No precise prior vacancy is supplied in this chapter.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/books/north-america-data-center-trends-h1-2026/northern-virginia-data-center-market&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.24}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Down 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.9400477226913755, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -3.9400477226913755, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;AMZN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;df972b400b9d35797d14bdec3ad2fcfb973920f52530be52eb36c36557c9e2fb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d77ca9e5528cbe793f7df3cd2c029b6eeab77a382459cc03cb6c0bf7d005c747&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fef035d2a77bc4c2f80906b728c3e9051025e7ddaaf0c87dfe395e31f8d34372&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, &#x27;GOOGL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;9f874af846a31444ebc857fa38c93c4828c8689fbacf482903f4f0886ec0fd63&#x27;, 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Down 34.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -34.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -34.038931771107464, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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&#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;c96d104f55520ee8a2cb61dcab4f193cde51827a8332d4c393c9494cecc7c69e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b1caaf005fa4b72a60ca8a74d5515572fa1622e5b2c5fa8d7b79974e2d791f7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-26&#x27;, &#x27;row_count&#x27;: 397, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;90196f10c023e886d74c4e673577806ab8702752ff1abfee9b7660f479cf424b&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9cd51fd3a9b52184ab5ded363e9fb7d706dc0377968df4982d2d3a4f200ed4e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b11d1d76d8f881fabe4e379819220bb5cb21c6c33a82e164953047e464a12e1c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;0040cca1c44b7459675bb4c4a2042e75f5f4d5eae669756f6d8a6958081b1a60&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;018be8d6be5674552dd5379df558f07ab6d7cf742e297e85b79a5fb2b5853700&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5cda80193ba0d8d11b41c25e274a95ae1cb922ce883acb5dfa5a775a7b5a1dd7&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;2f84aed8b8e27b3ba7d23ffdea11e635ae7b198cdc48db1fa84fdc1c7f8b0526&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;c4b2d31a5decbb89a357309462b56ef610faa4f6d8053c31d3cca5edaa8f610e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;row_count&#x27;: 505, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;532fea933e67a44ad32024ae7247eb64a71be7547b8844bd6aa6ff61c34b0fa8&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-26 14:12:42.005000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1792e62b5cf71d4f8c5dfde5e3fd17c015f54be8ee8928dfb8964f2963c370c2:dc692e3ec71f44c9ed467eba4721402d96c60f735394bdf46ba8d7b327eda5eb&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:034bfb189e73eebe431bc7596022c2f2c782f4e0876df353b23cca3728fe980d:b384dfcb5cb4286c361ae33960d69c5254c9052b73639bc5108b6f31581bde68&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c485fe2a417607a505ea603a8312116782bc24212df23ce1ca05da448173b3f4:20e45cbb795a72a15c5ec076a62ceeee0bcf259a04b12d8eb910bdc77571c88b&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f29acbc551884f3407805e5b762ad78496244b2ffc298f6855a5801d2b7254c9:f1991b65b24def87feabc061634af4e40a429cbbea85d4f3fa8d275d55b9f70a&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b1cc5f69cfd3832e51a0f2d0fe8280bf365974581ec87129ceb5f6014794f9d:3258970491681584487f9ec79604032d9ad47b8932844a810a0f46b7aba06a9d&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:54a734182f5369ead557a5a29c68a4db008c6398eeebd80a1a68951e8a2a4eee:f8bbf8441fe1bc61d444c3b78390d7ddc843026567e19c5cd400c97b9f1630c2&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:d93afb60fc633b7628868e63a1b18bae4175b40401a5780d43a37fcb0feb85f3&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Down 6.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.81%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.812106802498697, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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13.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -13.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.071216970733824, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -13.071216970733824, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 121.26510003703241}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Down 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:4b33a9c1c874d45bc185926759685972cf1dc1eb651c3e2b87910eb4fc1d3a1f:ae7b75e58a82f8afd72fcad90ce60e3ebd89ff0645f49bf0f93e7add0c59d25c&#x27;, &#x27;aib_bronze.equity_ohlcv:674633f00fc4178edb869f6f38c7fbe119da307b94ff8eafca7464ae4fd21296:8c1d0b34b8fb3481dfd06e9c7503b5c1411671747b819c0fc3dc3717b0a12c4a&#x27;, &#x27;aib_bronze.equity_ohlcv:be109e91f5372a46176996f3cc062dac3d3b1da16e703bb5cbc99da6714997ce:e13f84e18712f8b3a6d4e568c2c76a97ea4e673adbe4e16f5d81db85bd6ebd12&#x27;, &#x27;aib_bronze.equity_ohlcv:c5cca63967e5d697edf7b3df7b7b0d1ede4c96628f484d4aa5be04abfab6198e:2c661cc88649b6e38d968c20e7257bf012415d9448d3af98cd6f888d6d2da7b0&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.87493402950193}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ▼ Bearish</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: The AI complex is trading as one narrative — median pairwise correlation sits in the top quintile of its two-year history.</li>\n<li>evidence: 63-day median pairwise correlation: 0.302.; Two-year own-history percentile: 80.2.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 80.20618556701031, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.3023050399002176, &#x27;pair_count&#x27;: 17020, &#x27;symbol_count&#x27;: 185}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.29%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 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&#x27;aib_bronze.equity_ohlcv:aee43ee1ffffbf686e1e663e8e103f7ca43a72da4e14e66fd168a516f6aabcac:2d76425c925d62af47c5557247834ecdc3bd0fab949d735ba7a0cd8b7ce52b0a&#x27;, &#x27;aib_bronze.equity_ohlcv:d8c8c8f0c6e487f6ece07de6c39cac613c18c790ce45f733d910238e863e2dd1:d1eda85282ea4ffad56b164dda1b9c412f129d33e44bee505d8bcb9a521b96b6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.89867249214379}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Up 3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.581949200318002, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 3.581949200318002, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: 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&#x27;328cce6c09d9785d184aa9bc8951301a7437f7e853f03e58d448000a9f6ef039&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-26 14:12:42.005000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:540a5a72dad1886445475e31f7682575c166de43f7bda0d8e9fc3c0537ac18e0:dbe8dbaf684955d44ae6937fcc03c78df5a2ca26ef8345cc38bc0b796a3da11b&#x27;, &#x27;aib_bronze.equity_ohlcv:56fc4866e1c945c80dc3d0ae0e2ab14b981c0c8da59af6d372049c16f0338010:1df09c169de3b4b555ae4c8522fbf5b81d53495fb11d8c45d01c9f470b28d964&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:d93afb60fc633b7628868e63a1b18bae4175b40401a5780d43a37fcb0feb85f3&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 100.71688102338634}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Down 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.9381543561518573, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -3.9381543561518573, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9cd51fd3a9b52184ab5ded363e9fb7d706dc0377968df4982d2d3a4f200ed4e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b11d1d76d8f881fabe4e379819220bb5cb21c6c33a82e164953047e464a12e1c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;2bb57d7d28364f6e77754c2107154b53f84d9da948c5ff78640dc5d5238c5626&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0b385a9460cd793ab8d6a02e0071116739d52aaee46b6c27a03fb4c720139728&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ef59ebbae12c413f6bc31453e6e01968c0dcf378b0ca45b0bda960da0dcf9343&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-26 14:12:42.005000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e897d7550b1e105f612b9d046659aac700b2dd2ae835e399d8d2c10c74ce9820:e0d5bdc203cdd2d302aff8e67c516abf8e354ce1aec7b3420cfd44734faa94b9&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:d93afb60fc633b7628868e63a1b18bae4175b40401a5780d43a37fcb0feb85f3&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e5e68e64e8fe77ca9cde30659bf9da53f2f4ecea7393c83a6c8a633df31c71d3:0d524a9ef0862d64efd4f97e1849e34aa82fef3d8be366c112fea04c9dde69b9&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:d93afb60fc633b7628868e63a1b18bae4175b40401a5780d43a37fcb0feb85f3&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;aib_bronze.equity_ohlcv:e5e68e64e8fe77ca9cde30659bf9da53f2f4ecea7393c83a6c8a633df31c71d3:0d524a9ef0862d64efd4f97e1849e34aa82fef3d8be366c112fea04c9dde69b9&#x27;, &#x27;aib_bronze.equity_ohlcv:e897d7550b1e105f612b9d046659aac700b2dd2ae835e399d8d2c10c74ce9820:e0d5bdc203cdd2d302aff8e67c516abf8e354ce1aec7b3420cfd44734faa94b9&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.95456063611898}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Up 8.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.225719853138758, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 8.225719853138758, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;54d26fc88ee54b6d7e4b1b62d74714305ceeb81e28fd7826d097a4f3d73b6115&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9cd51fd3a9b52184ab5ded363e9fb7d706dc0377968df4982d2d3a4f200ed4e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b11d1d76d8f881fabe4e379819220bb5cb21c6c33a82e164953047e464a12e1c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;3633a7a3b24459b73792e35964fa631c48e255fb0d433cc7b46472c57bef6a63&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b64b332dbe810dadd29cd2a77ce5ee70236287d6cf5927a2ad2864a39f9f3a64&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;797e40f0cd8bf336ba227ce9ffd24b19808450456e93d65983cf00256807f0cb&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-26 14:12:42.005000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dfdcad5381aafb11b9db369f3bd47837a31f95876e98ed7c6a1718fa8a07119a:f749244aed0ecc90a70e328814c13c0a0e4220c4a1efc99c0a83f63a73d864fa&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:d93afb60fc633b7628868e63a1b18bae4175b40401a5780d43a37fcb0feb85f3&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6f4f6bafe27c2a2748d96189f47338650a6d9e92c6133e4c1f71d310040fe79c:d8ec5172697ab02e14d7b8b70f733052a106404abbfde3e9cc26e58f32150708&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:d93afb60fc633b7628868e63a1b18bae4175b40401a5780d43a37fcb0feb85f3&#x27;, &#x27;aib_bronze.equity_ohlcv:6f4f6bafe27c2a2748d96189f47338650a6d9e92c6133e4c1f71d310040fe79c:d8ec5172697ab02e14d7b8b70f733052a106404abbfde3e9cc26e58f32150708&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:dfdcad5381aafb11b9db369f3bd47837a31f95876e98ed7c6a1718fa8a07119a:f749244aed0ecc90a70e328814c13c0a0e4220c4a1efc99c0a83f63a73d864fa&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 93.28933301306414}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Front VIX at 0.95× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.950.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 191, &#x27;epoch_values_hash&#x27;: &#x27;968b1cf999ec4c1080d1edc2e52ebc8a023a8ea4150a734bfc64d5899e8a4222&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;52cf4f517cd18ce563764c18aeaf5e45df9ac4fc8486dd613d02c1b8c1fbc523&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 568, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4a253e7757fd9c9a6f6793bec7126000f72b985195103f898b264b0dac62b5f8&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;e31c0602c8f3b456207b7868d7d41290e0e2d7938b4447fae95767425a608ca5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;89b017ee39d779ddede64bdebe55fa2324e28030d230b125213fa198070c9cb4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 560, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;28f23a2f0a8f02bb31d61ee138ad8bb7bb0c39675f3f09e756075163a795c3c7&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-24 04:11:04.188000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:886a519b30df0f2397c207ff798abf51327630f72f035e293f6a43b407538acd:5e4253fb7e31ab8774cf7657c73a657b587fde1e961ef876955968a57d5435e5&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b5a038da7c6ec72be9402fa71a535cdcb06d2549708c5e18e9b7423c2f5840c8:feb15ab24565f7a0e1b8ce31a929f1a26f34f32997a42ebd389e544841052e3d&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2718b0e1751af0cac8e22e1dbc18294a0b87d160d34ea74f87c79272575bca87:4e9e6dd21c588b841a307bb653fca465600d2bb4ad3d0b159b78fd12ef9ad299&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d99035b2bfba243c2c47d21e84ed15ec367cefce60ca351e1c57be2ed62cd181:c54954a7ed39e2d48d4b8570f22b1e98ebe76bfd70d4c8a87cf7775cfd4aa083&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2718b0e1751af0cac8e22e1dbc18294a0b87d160d34ea74f87c79272575bca87:4e9e6dd21c588b841a307bb653fca465600d2bb4ad3d0b159b78fd12ef9ad299&#x27;, &#x27;aib_bronze.equity_ohlcv:886a519b30df0f2397c207ff798abf51327630f72f035e293f6a43b407538acd:5e4253fb7e31ab8774cf7657c73a657b587fde1e961ef876955968a57d5435e5&#x27;, &#x27;aib_bronze.equity_ohlcv:b5a038da7c6ec72be9402fa71a535cdcb06d2549708c5e18e9b7423c2f5840c8:feb15ab24565f7a0e1b8ce31a929f1a26f34f32997a42ebd389e544841052e3d&#x27;, &#x27;aib_bronze.equity_ohlcv:d99035b2bfba243c2c47d21e84ed15ec367cefce60ca351e1c57be2ed62cd181:c54954a7ed39e2d48d4b8570f22b1e98ebe76bfd70d4c8a87cf7775cfd4aa083&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.94970703125}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-26 21:55:44+00:00</li>\n<li>interpretation: Down 3.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.79292623915084, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -3.79292623915084, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;335ec9218aa26b5f3544b831d073af71425614c0a5380553b0ffabd594693f20&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;910a65cf1e261064904f0831fc07d5e3c5861fa890477317d1045adeac90335c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-26&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5e670feab65423e37711879b803561a57b8c36884ddf836d7c8638b59e725d36&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;27523728b656a792c7c38fe0b23c0c9ae55d53234df75bc6b5b1add881d0fad1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-26&#x27;, 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-25 04:15:13.040000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a90cf460b1662127f1a1e34bb0f51b887e15c002787973ce27d5627dcba9aa2e:44564d76a79ae6e34c6246d406c83bd7db51e2c1f9e76a1ce865793c424139fd&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a765b351f988c571a249afbf2d70377206309948043adb9afc0124f15f29f282:365d978e665c1c956e7a6f06764d9e948d7a13d804711d7e02e94aaedcc9251f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:aee43ee1ffffbf686e1e663e8e103f7ca43a72da4e14e66fd168a516f6aabcac:2d76425c925d62af47c5557247834ecdc3bd0fab949d735ba7a0cd8b7ce52b0a&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:27cc6b39f07fb5ce65634c5f0b1913970c8d91c7ea18d78c001232b6950fa7f2:a4557c2643c5833707e37de7e8b48346db062ae22a67027c4c11ac69a1349adb&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:831d4f08b254f71627e32aad65dc240738a1bdddcb02ac1db2b07b8ef4ce820f:981674a2e781a38320b331555f93b818bcab7a4cfad64508d7562f5293b199e8&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:565d69753ffbb992879a52b9e85f7246dea97b919e084ee864da6718681cbd03:89977c4a87032ca89e62097605d6b935cdca54ca66970790f71976b115864fc4&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d8c8c8f0c6e487f6ece07de6c39cac613c18c790ce45f733d910238e863e2dd1:d1eda85282ea4ffad56b164dda1b9c412f129d33e44bee505d8bcb9a521b96b6&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6ca576de0c03edf701b2dfb73cfac3b62a2cb7f09be42c0c726a0b58a6f3ac97:486c8823b4308d992ca1cb4447b177cfc53b070dd74ce2a7f83e5d542d68d06a&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:27cc6b39f07fb5ce65634c5f0b1913970c8d91c7ea18d78c001232b6950fa7f2:a4557c2643c5833707e37de7e8b48346db062ae22a67027c4c11ac69a1349adb&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:565d69753ffbb992879a52b9e85f7246dea97b919e084ee864da6718681cbd03:89977c4a87032ca89e62097605d6b935cdca54ca66970790f71976b115864fc4&#x27;, &#x27;aib_bronze.equity_ohlcv:6ca576de0c03edf701b2dfb73cfac3b62a2cb7f09be42c0c726a0b58a6f3ac97:486c8823b4308d992ca1cb4447b177cfc53b070dd74ce2a7f83e5d542d68d06a&#x27;, &#x27;aib_bronze.equity_ohlcv:831d4f08b254f71627e32aad65dc240738a1bdddcb02ac1db2b07b8ef4ce820f:981674a2e781a38320b331555f93b818bcab7a4cfad64508d7562f5293b199e8&#x27;, &#x27;aib_bronze.equity_ohlcv:a765b351f988c571a249afbf2d70377206309948043adb9afc0124f15f29f282:365d978e665c1c956e7a6f06764d9e948d7a13d804711d7e02e94aaedcc9251f&#x27;, &#x27;aib_bronze.equity_ohlcv:a90cf460b1662127f1a1e34bb0f51b887e15c002787973ce27d5627dcba9aa2e:44564d76a79ae6e34c6246d406c83bd7db51e2c1f9e76a1ce865793c424139fd&#x27;, &#x27;aib_bronze.equity_ohlcv:aee43ee1ffffbf686e1e663e8e103f7ca43a72da4e14e66fd168a516f6aabcac:2d76425c925d62af47c5557247834ecdc3bd0fab949d735ba7a0cd8b7ce52b0a&#x27;, &#x27;aib_bronze.equity_ohlcv:d8c8c8f0c6e487f6ece07de6c39cac613c18c790ce45f733d910238e863e2dd1:d1eda85282ea4ffad56b164dda1b9c412f129d33e44bee505d8bcb9a521b96b6&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.2080586345957}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: event-specific interpretation rules are not implemented; market probabilities remain descriptive</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: reported EPS is retained; its accounting basis and pre-release consensus are not verified as comparable</li>\n<li>data quality: company-specific event; comparison withheld; eps comparison basis unverified; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: the comparison market set is incomplete or unverified</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; the comparison market set is incomplete or unverified; prediction-market probabilities; thin market liquidity</li>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-25</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-25</td><td class=\"num\">90,772</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.3272</td></tr>\n<tr><td>CISO</td><td>2026-10-25</td><td class=\"num\">545,319</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.3866</td></tr>\n<tr><td>ERCO</td><td>2026-10-25</td><td class=\"num\">1,244,709</td><td class=\"num\">24</td><td>—</td><td class=\"num\">5.889</td></tr>\n<tr><td>PJM</td><td>2026-10-25</td><td class=\"num\">1,954,132</td><td class=\"num\">24</td><td>—</td><td class=\"num\">3.284</td></tr>\n<tr><td>SOCO</td><td>2026-10-25</td><td class=\"num\">509,513</td><td class=\"num\">24</td><td>—</td><td class=\"num\">3.251</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">47.04</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">38.31</td><td class=\"num\">0</td><td class=\"num\">-8.73</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">40.64</td><td class=\"num\">0</td><td class=\"num\">-6.405</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">45.95</td><td class=\"num\">0</td><td class=\"num\">4.061</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">41.89</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>DOM</td><td class=\"num\">46.28</td><td class=\"num\">0</td><td class=\"num\">2.254</td><td>—</td></tr>\n<tr><td>PJM</td><td>RT</td><td>WESTERN HUB</td><td class=\"num\">44.02</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-10-25</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 1</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>419 benchmarked model identities; 246 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td class=\"num\">22,325,007,190,218</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 8,115,623,080,541</td></tr>\n<tr><td>Kimi K3.1 Pro</td><td class=\"num\">55.1</td><td>$2 / $10</td><td>≥ 627,906,534,149</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 680,987,500,791</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 2,914,818,640,585</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 1,662,504,762,183</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 7,578,709,194,781</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 352 eligible configurations.</p>\n<p>Usage window: 2026-09-26 → 2026-10-25. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-26 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;7876b937be5887925c8e50411819b677feefaa670459470b6f2eb036ff2fbb10&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;1eeb1e045a536229f245c9ca52d7a6e370f05b6b652a00744b5985a9f3db3ff7&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;5c2b6ee2bee178cc6bcde7703d60a7e0f53086f68ec5ad0c8d42ad026067bd9f&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-26 21:53:33&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-26 21:53:41&quot;, &quot;record_count&quot;: 1898, &quot;records_hash&quot;: &quot;961717e42ee1c55b352a18f236091b82705e1dae2b19d641bfdab2aaf79dae42&quot;, &quot;snapshot_id&quot;: &quot;4ec8113fa775c3df4d80b2eb6cc6cdfae141c82a44916510820651ede3f99580&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;5c61720e104ece6eb2971a59195a5c15c0886ff5d3812e4057d56304c3037001&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;5b814a00ca7279a717b847b79b9826fe590ffb26a2c24c84b2ff7df90b01b753&quot;, &quot;d5c15a01dd5f42c76aaa2dfb7e5c744d7f58003e73155b09d64d3a4bd2aa6de4&quot;, &quot;2a7f16addd2027bea5ecaa477fa44580943a24babd212346cdb85673a23169ac&quot;, &quot;9b3febb887cca4e1fb90a1dd086423d3ea4937619e345f9c486ae523964041f5&quot;, &quot;b21871e8490cb73c24363908e0274f9605802d953c3edc2a8985a5d68fdb556c&quot;, &quot;58cd1bf32b3033832a6abbe0d4b934a424518e51df288fc3cc4a9c624a1fd290&quot;, &quot;4749a695ab7953996dcbb6cae72c255eea81c59f162fb5305ddbfd75db3ac431&quot;, &quot;2a39654be67db253aa0262aa42c5a9cfbe4947bc569683d8f79d4939fe4154a3&quot;, &quot;4d04be5265aef3a2c972ea88a4aa76ab0418167888c0e615c6fe7b083d4d0c91&quot;, &quot;bef3e8a23d36b753c3dec86cc1870163f53159e603c6df25547869fb50fb1c55&quot;, &quot;8e7d14ff65b64247664ff0bb1f67ee0227e748bc6edfdc7638047eff68712d74&quot;, &quot;1b541a04306279a62b361073ccb711a951c0b171c39d58522d8c2b08e83e3a74&quot;, &quot;c9cef497e8c80f0fc025056dc39e9f7c79d42efa1b1590635e92afbfee23fc9b&quot;, &quot;5b62ae5db5dc08ff4209ac1067e36efd7bfc36537e5aa52b6fd5a3734c8ab8fd&quot;, &quot;cb7c3470725c07496361f83c55e820f6d486f8bc4942d645fc7975ebff7a884b&quot;, &quot;757c9767b3a190eaee0475632c1a7edf54ccafba89b37b51f86374aed80de3b1&quot;, &quot;da5b4011ef493a94b0b0ca3d418ae8f7a94c47edaa5dcb3c82aea582c2ee4de5&quot;, &quot;9ab857298e905415cc84298dcdefb7485e07dc76d835629cb4664dd4fa39a579&quot;, &quot;00abaee954d3815b37a778b5cf16a45470d4cdae72fb96f8b3a97703c0e63a0d&quot;, &quot;db7d89d31ca7488693dfe82344d56ab86277c21e4a48d20510384a1365e6c7cc&quot;, &quot;55f1ed4ae18408e476ad9d7f837e19920b6ccf0128dbd0ab16d90177e2bd1006&quot;, &quot;ab3270e046b84571a903729d2fa49ec947aad04af39f791300d39fbc92bf7417&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-26 21:53:47&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-26 21:53:49&quot;, &quot;record_count&quot;: 791, &quot;records_hash&quot;: &quot;f436d9efdc31e4f8df4a7c0e7c7091aae589809cc2e5d39ac9e431ef733fefc3&quot;, &quot;snapshot_id&quot;: &quot;3acf4f8e460525477c4cec1a030b0149515f1be7d422465d5b4dfa365de9d4ee&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;e6c0fd4df578c199ee801d60767a736abf28acd5f37f8df41b950d62771aa476&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;c5b8b98bda2091825314c4a3c6ede4c7a590d46c7b91df3d83761186623319a3&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-26 21:53:33&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-26 21:53:41&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;e900a3046e479cf7a893e9f2c97cfc976cc42f081669e4a6d4630ec7186aa181&quot;, &quot;snapshot_id&quot;: &quot;90c682ac5feab116f44779ae052f1de66d0551b49b51f2cf084a8195cf613b2c&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;2f34b115f9f05663dc0ad36da61366ee3a4cc42b0c85daf0b7f9a1a47781d332&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;58a42762a21c3801616dbb405ddc347677033b96fa66962720bdceafbf61ac6e&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-26 04:11:30&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-26 04:11:37&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;2638ddda358f924870baba17aee9e1b13b7d25c9bbc76ce66449e6a268892a4a&quot;, &quot;snapshot_id&quot;: &quot;166d8c07ea748df8863f7376ddfec64db8c2a1a539485a9894b1acb0b22dfb4b&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">6</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">182</td><td>2026-10-26 21:56:20</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-26 06:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:42</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">12</td><td>2026-10-26 23:53:39</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-26 23:56:24</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4732</td><td>2026-10-26 21:56:20</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:29</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">142489</td><td>2026-10-26 21:53:28</td><td>—</td><td>partial: 4 symbols failed: MHVYF.US: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; TOELY.US: history ends 2026-09-16, 28 weekdays</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">135</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 23:00:36</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:29</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">463</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">652</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1898</td><td>2026-10-26 21:53:29</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">791</td><td>2026-10-26 21:53:29</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-26 21:53:29</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:29</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:42</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-26 06:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-26 21:53:29</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-26 21:53:28</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-27T06:10:15Z",
      "id": "urn:prexel:issue:429d22d4-5f96-5f69-806b-ce4d007f89ae",
      "summary": "Prexel daily — period ending 2026-10-26. 51 charts: 30 with a read, 21 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 56 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-26-daily-336dd6958d2a.html"
    },
    {
      "_prexel": {
        "content_hash": "b2cd36b4d8b67bad8b58c6544bc9e7594fdffa01299d94f61df5a85147884044",
        "context_hash": "55bfb0dcb5728920fe63579ce34279f1c10bc3423a618b20bd755c0462f35efd",
        "kind": "daily",
        "period_end": "2026-10-25"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 55 (daily)</h1>\n<p>Period: 2026-10-25 → 2026-10-25</p>\n<p>Context hash: <code>55bfb0dcb5728920fe63579ce34279f1c10bc3423a618b20bd755c0462f35efd</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Evidence revised; cause unclassified. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>AI-complex correlation regime: ▼ Bearish — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence revised; cause unclassified. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Evidence revised; cause unclassified. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Implied OpenAI valuation: ⊘ No read — market-implied OpenAI IPO valuation (Near term); Evidence revised; cause unclassified. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Evidence eligibility changed. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Evidence eligibility changed. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-25T04:16:22.928990+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-10-25T04:16:22.928990+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 24 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 28 usable / 23 no read — 11 bullish, 11 bearish, 6 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-25 04:12:59+00:00</li>\n<li>interpretation: Up 7.8% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 7.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.790508729801493, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 7.790508729801493, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3445090411, &#x27;total_tokens&#x27;: 255073971752211}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-25 04:13:00+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.32pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.3178000578144946, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.02574108211323, &#x27;top10_share_change_14d_pp&#x27;: 0.3178000578144946}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-25 04:13:00+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 8 cuts, 6 raises.; Fixed-basket price at prior-day token weights: $0.688/Mtok.; Seven-day like-for-like change: -1.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.0339507170419537, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 351, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6877421908721101, &#x27;like_for_like_change_7d_pct&#x27;: -1.0339507170419537, &#x27;price_cut_model_count&#x27;: 8, &#x27;price_raise_model_count&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-25 04:13:00+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: +1.23%.; Token-weighted effective price: $0.689/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.23230876300362, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 1.23230876300362, &#x27;effective_price_usd_mtok&#x27;: 0.6887969147049784, &#x27;matched_model_count&#x27;: 343, &#x27;total_standard_tokens&#x27;: 159174415695783, &#x27;unmatched_token_share&#x27;: 3.660406801730361}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-24 11:12:26+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +152.7%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.71966527196653, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 152.71966527196653, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-25 04:13:00+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +3.21pp.; Open-weights share of routed standard tokens: 71.2%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-2.21pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 3.2083870517304263, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -2.21050811049345, &#x27;chinese_lab_token_share&#x27;: 68.07475388251775, &#x27;matched_model_count&#x27;: 343, &#x27;openweights_share_change_14d_pp&#x27;: 3.2083870517304263, &#x27;openweights_token_share&#x27;: 71.20177034429071}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-25 04:13:01+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $47.98/MWh vs prior 14-day $52.45/MWh (-8.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.53926201754385, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 47.97522761904762, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 52.45445059523809, &#x27;caiso_da_trend_pct&#x27;: -8.53926201754385}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-25 04:13:01+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.28 MMBtu/MWh vs prior 14-day 17.09 (-10.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.587863251627262, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 15.283058172885555, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.092822885886015, &#x27;caiso_heat_rate_trend_pct&#x27;: -10.587863251627262, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-25 01:20:37+00:00</li>\n<li>interpretation: PJM total load growth exceeds the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +3.38% vs control mean +0.67% (gap +2.71pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 2.7091895207562606, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 5.011491398742072, &#x27;dc_load_premium_pp&#x27;: 2.7091895207562606, &#x27;erco_load_yoy_7d_pct&#x27;: -3.672906136501249, &#x27;pjm_load_yoy_7d_pct&#x27;: 3.378482151876672}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-24 / 2026-10-25 04:13:01+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +12.57% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 12.565657726487487, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 12.565657726487487, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Down 19.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -19.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -19.10202019656945, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -19.10202019656945, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;24df545956f4919b8a7aa2a030c2c1b8d20474b35e9a9d6e6e12967e3785c5aa&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; weekly mean scaled by daily spread std</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Down 4.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.82%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.8235161541652865, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.8235161541652865, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;abcd0fca6c3a685f2da3c33ed1d043b45fa5cb7fb848074696d142dec5eedd9c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d53321297b3e8d667c0a9142273558d55a6ef876109468204e8536bda9f1b80c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7c689389f1c40054fb48cdffaf97a156ba05c60517308623ae748251664d9666&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;a7e14323a6c71002b6e6f4d61b0ef6168297672e1eb3bd3691f5629ff86a7bdf&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5e5e7ce3def5c1fa2ede4f3c6994d325ebc283a55516eee2380cc9f3cfdb3257&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dfebdb8ce254a86849f74b1ab4f1418a6d2c1071f26bceaed22cb7c213358a1b&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dbd5f4ce0fb07c1d6ae3cce3ba64cabdf0bbbb6a897a7b3ca9b51371db8cd50b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;438e78f3c9ecf1f321c60cf5298483235abe031ecc0b243925195586dcf94b9c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;666cd51fb4eb2cbfc9ee79677140f32d72c194428a1916681828c873fce7281e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b880a1ef0465fd08769db86227ba1ac749644879193d5fb240f7ffe11414ca75&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-25 04:15:13.040000+00:00&#x27;, 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&#x27;aib_bronze.equity_ohlcv:acb605e063227e55e3e0a3ace5bdfe26cb3ebb135ff0ad20849297e59474837a:41586313a9ba6794bc730460ea0e7923325f7ceab08935086fdde51f5448c11b&#x27;, &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.3631626469508}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Down 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.9400401625666936, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -3.9400401625666936, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;AMZN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;f72775f47a114133dc7e24529c81dae3d3e022ea39185b7a7bd7370400b85c26&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;75267803404cab3aac23ca2f100518807a1364d0f664c1cabd3dd9327f81a5f4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;670213abae94b01d2ed6906eb73734c51fc344dc9883d7ffc8bac26506a0ac12&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, &#x27;GOOGL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;751333cf53e04f77b01d04d8296a33936470385bcf42b08834c7feec3764b1db&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6be676bbf3131a4f2f6de1bc3d379c2a9279ee7dca34fc8447703d7c53275791&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f321a5a85e0534a583b6635c2c4be1f0bfa9d08fed67db1d19f53850fff7e519&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dbd5f4ce0fb07c1d6ae3cce3ba64cabdf0bbbb6a897a7b3ca9b51371db8cd50b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;META.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;ce80fc4ed24219f33c12480fa483bcdd588b28740210eb5ab278e7dd6d077b97&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;54079ffef77ac51cfdd4cd1d3cdd1c71fc373523f4d6cb46af4f48cc031ebb65&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cc50f37c23b3852b1e2e5f1b0384925e0d2a1cc8e320937b8a7d8e2eab916276&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, &#x27;MSFT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;df6fe1d50123629e49c8b67148da01950830a9f46fb216c562fa7c31ed85e907&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;bbe027dc4434381c273ed0fe9d9f5a61975bbecdae49409e3c0f4a348ebabe6c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b330543898e60452888ae1ff95072834a8c1268df227563a3156e33a1d7d0826&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, &#x27;ORCL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;b6101891f2c354228632708a639af9f6389bcbf639575665775d7236f18c4ec3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e54eb89e6980563da30d905085cc1aca140def26a17bd372f25ce64d4c14ffc4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3956555a6d54085b9c2360752145d116faf45fbfabdecb647645985697f290b7&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;MSFT.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;AMZN.US&#x27;, &#x27;META.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-25 04:15:13.040000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1316a63dcfc20f388df8ca477b42ea2ac759f9132f5546c5832baa1197704e68:06085efedd318b71d0f3084d82e8ba45c099961f391863d47811484195488128&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:147c1a1fad9d8c76981628480a22f231bfc240cda180f714f198b36177170794:a88730294ba313ac05bca8c345edf543c91a2e1670474efaa22dd3c73464b436&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d5051c85160cbd2a33ffbfd26652d2b801c7c2e06092ca5c70036075c485cd4:a8381d716e573de2942f310d18837e4b36651419fe22fae1db0a3407eb4799d9&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:13933ebca14b0befb41f0f2075a982bf2ce5ca9533fd786389d068a7b48dd3ca:a63cf03497c7dd2916d57f917992088f1533fc9ffbb847caa4d5650a2f98f134&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5a76b671c902d3ec7116762561d2e472ebcf6814811312869b9a9269d9b725ac:82c54c1b7a881c429ef436268609bc356a10ab0219f8a6275f71a343522994df&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:912211f09596ee7cadc34d445561968f9e6f766209f59f9301f3e868fea71a50:1e70560591e9d8a151450491dde8e6ee320be649b6ff85e9b07ba5bdbdfc299f&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3738f1c78c11bf36e3d3750562b62abfb1de055151352bc057a238a18898757f:8bf66b9ed1ae46469918a8de891d1d1767e90548117263a86e4f75a81b0f639e&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:16c78722f31248c612b3c7f6f605f2c3b602784fd6902667f08411a4474bfd1f:49fa8c739cf3270a2bdd6a0d4bd4afb077941b52b28cfef6b8d9aadc731c752d&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c6dd35bab12405072e1ee4c809b2582635ede4a2958d339b53c54053bc9b0674:674d1209fe9ba2f84d74e8c7b9e2f7c5743dedabeea2d9f79601ad174dcae168&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:3c257506b79ee926d426367dec17baaa182d4a08736cc1e739db5917b8a6bfc4:615d0afa8385a5eb512caeabd855ef023ea11269413decf2aaa0cfc730e607b5&#x27;, &#x27;aib_bronze.equity_ohlcv:51b307e83e5efee26742ad54bbccf01ce85907c303c55dc185ffd8e122d375ee:0795292d9a887c5e859fdad36ab8d65c6df9de2169bb771e857406b8e8a622f3&#x27;, &#x27;aib_bronze.equity_ohlcv:5a76b671c902d3ec7116762561d2e472ebcf6814811312869b9a9269d9b725ac:82c54c1b7a881c429ef436268609bc356a10ab0219f8a6275f71a343522994df&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;aib_bronze.equity_ohlcv:786b0dc5fe4e7ae3e2098258e582596f354645d9bde3e446f6e3256a22271f09:04a1ef210536f3448f796127a4a702e034911e8b3065e95a88db9c713ac44a82&#x27;, &#x27;aib_bronze.equity_ohlcv:912211f09596ee7cadc34d445561968f9e6f766209f59f9301f3e868fea71a50:1e70560591e9d8a151450491dde8e6ee320be649b6ff85e9b07ba5bdbdfc299f&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;aib_bronze.equity_ohlcv:c6dd35bab12405072e1ee4c809b2582635ede4a2958d339b53c54053bc9b0674:674d1209fe9ba2f84d74e8c7b9e2f7c5743dedabeea2d9f79601ad174dcae168&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 89.85703445044597}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Down 34.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -34.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -34.038926579829635, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -34.038926579829635, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;51e0c68afc6b5cc2c66f7a3a4c1f7f7e41b5273b09b134afa1e77fc74ecd3d69&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e48c4226f3453db927950af8fdc07c8beeefa4871902f4d453d82a521053776a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4e630309fb1a530f7b60549523f1a3b75743aa259e1106e45a787f32bebac915&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;4c44c7ee70a021b73ae2aee053a3b6545cf90984bfc709ba384cbdb99e8ee882&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;983e7dfbc0218f6edc4976dd3c939f91fbdb758de68f1314b1390f9d47e7b27b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-25&#x27;, &#x27;row_count&#x27;: 396, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f5a8c3327b5347a570e9e8975e963c12ede6fe23bf17d9034d3586501cb48185&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dbd5f4ce0fb07c1d6ae3cce3ba64cabdf0bbbb6a897a7b3ca9b51371db8cd50b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;1695036c44dda7f490481ada55f60e3045ae5dd3c7408e6dcbe7abe09b233784&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0a305581efcf2892ce46d0d56f3858df2a1cec1d9eb5ffdc9f3863661d533da7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2b65722f71d38c1407b32a2063d6d4711d6a3236db816af189bf71e5decd54ef&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;144465e87886de7676a2982c0abdcb9dcd5687bd1cefe1bab691292ec9757a33&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;6ce7ca791845647f4a6084cff0a446171646cea131b748f0ba1359d2a7f75ec9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;row_count&#x27;: 504, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;27be4410234c083880b2a65295464c3345e505cf3324f7657c30ed6ea5a92aea&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-25 04:15:13.040000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1792e62b5cf71d4f8c5dfde5e3fd17c015f54be8ee8928dfb8964f2963c370c2:dc692e3ec71f44c9ed467eba4721402d96c60f735394bdf46ba8d7b327eda5eb&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:034bfb189e73eebe431bc7596022c2f2c782f4e0876df353b23cca3728fe980d:b384dfcb5cb4286c361ae33960d69c5254c9052b73639bc5108b6f31581bde68&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c485fe2a417607a505ea603a8312116782bc24212df23ce1ca05da448173b3f4:20e45cbb795a72a15c5ec076a62ceeee0bcf259a04b12d8eb910bdc77571c88b&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f29acbc551884f3407805e5b762ad78496244b2ffc298f6855a5801d2b7254c9:f1991b65b24def87feabc061634af4e40a429cbbea85d4f3fa8d275d55b9f70a&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c3d3106fad4ce87035ec5c324a9feaec164a0b893db8fc2d90c825c469eee2a1:9cd00053919c308e28f068633862fffab4c362f8f6106f5e295a18895fa11511&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:8fa90a81c0dd9e19a64d86ab47a52ef55a6a1fa3ccd5af26e2369f7018af3ad3&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Down 6.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.81%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.812099468411237, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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13.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -13.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.071210129251776, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -13.071210129251776, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 121.26510958085639}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Down 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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<code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: The AI complex is trading as one narrative — median pairwise correlation sits in the top quintile of its two-year history.</li>\n<li>evidence: 63-day median pairwise correlation: 0.302.; Two-year own-history percentile: 80.2.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 80.20618556701031, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.3023050399002176, &#x27;pair_count&#x27;: 17020, &#x27;symbol_count&#x27;: 185}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.29%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 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call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.5819573524400017, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 3.5819573524400017, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dbd5f4ce0fb07c1d6ae3cce3ba64cabdf0bbbb6a897a7b3ca9b51371db8cd50b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;872981615470704928cfd7ca41f337dadde25825c74fbcb978d0319e30895134&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;faf1788ffcaa5af63bb8081a3244cee472b5b036631438afe31ad62ee42fe4d5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:56fc4866e1c945c80dc3d0ae0e2ab14b981c0c8da59af6d372049c16f0338010:1df09c169de3b4b555ae4c8522fbf5b81d53495fb11d8c45d01c9f470b28d964&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:540a5a72dad1886445475e31f7682575c166de43f7bda0d8e9fc3c0537ac18e0:dbe8dbaf684955d44ae6937fcc03c78df5a2ca26ef8345cc38bc0b796a3da11b&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:540a5a72dad1886445475e31f7682575c166de43f7bda0d8e9fc3c0537ac18e0:dbe8dbaf684955d44ae6937fcc03c78df5a2ca26ef8345cc38bc0b796a3da11b&#x27;, &#x27;aib_bronze.equity_ohlcv:56fc4866e1c945c80dc3d0ae0e2ab14b981c0c8da59af6d372049c16f0338010:1df09c169de3b4b555ae4c8522fbf5b81d53495fb11d8c45d01c9f470b28d964&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 100.71688895002133}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Down 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.9381467958781613, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -3.9381467958781613, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dbd5f4ce0fb07c1d6ae3cce3ba64cabdf0bbbb6a897a7b3ca9b51371db8cd50b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;9c06a41f0ffbd1db797c62910a51ac76bcba96e9437e8ed38987909c1effff0f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4d096898004e7113443553aaa1ce0f06764a722834213be9dd240ef3a6e342f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cfea793818ccc1f6a8d452a37405110b52210d7b5535ae18c60bec0b6c9e832f&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-24 11:08:58.813000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e897d7550b1e105f612b9d046659aac700b2dd2ae835e399d8d2c10c74ce9820:e0d5bdc203cdd2d302aff8e67c516abf8e354ce1aec7b3420cfd44734faa94b9&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e5e68e64e8fe77ca9cde30659bf9da53f2f4ecea7393c83a6c8a633df31c71d3:0d524a9ef0862d64efd4f97e1849e34aa82fef3d8be366c112fea04c9dde69b9&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;aib_bronze.equity_ohlcv:e5e68e64e8fe77ca9cde30659bf9da53f2f4ecea7393c83a6c8a633df31c71d3:0d524a9ef0862d64efd4f97e1849e34aa82fef3d8be366c112fea04c9dde69b9&#x27;, &#x27;aib_bronze.equity_ohlcv:e897d7550b1e105f612b9d046659aac700b2dd2ae835e399d8d2c10c74ce9820:e0d5bdc203cdd2d302aff8e67c516abf8e354ce1aec7b3420cfd44734faa94b9&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.95456873886415}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Up 8.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.225728370735496, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 8.225728370735496, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dbd5f4ce0fb07c1d6ae3cce3ba64cabdf0bbbb6a897a7b3ca9b51371db8cd50b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;0510950a297b0b1c5d905b66743ea8d096ddf0c66f355008aa57d7433a557519&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6b49ab511c15b6f4ccd3a8786072d51e8dd2524c0f6a8c3506fcf8e21c747d95&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;668423877ecc0f698e1aae8615ae2e0c6ebd0ccd2d52280b6ee87fed4b0e2228&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-25 04:15:13.040000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;aib_bronze.equity_ohlcv:6f4f6bafe27c2a2748d96189f47338650a6d9e92c6133e4c1f71d310040fe79c:d8ec5172697ab02e14d7b8b70f733052a106404abbfde3e9cc26e58f32150708&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:dfdcad5381aafb11b9db369f3bd47837a31f95876e98ed7c6a1718fa8a07119a:f749244aed0ecc90a70e328814c13c0a0e4220c4a1efc99c0a83f63a73d864fa&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 93.28934035513512}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Front VIX at 0.95× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.950.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;cb396579abb0ad3e7717774200ec54ec8c40d6b9df149f31444834ab79a00ead&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed20e1555ae15d339cbb31e942c2a6bfc1a28ac4e80d98b2b3e033a80658e27b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 567, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cee248a7e5a14f61b04eb17b719b0646e84537d37774f3686ec46817c0f6eae1&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;81322dc237d82807990c2f4e595fb98bf15b5e83d5da38072d003beb08e62ec3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2cb73b92287d1fc54c138c7db4ecf356620a8827a14bf184546150724d3e6610&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-25&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 559, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;acb909c5ba5d0053d0904141f46e62e77d2a372134d596b37126cbd6330eb5f1&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b5a038da7c6ec72be9402fa71a535cdcb06d2549708c5e18e9b7423c2f5840c8:feb15ab24565f7a0e1b8ce31a929f1a26f34f32997a42ebd389e544841052e3d&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2718b0e1751af0cac8e22e1dbc18294a0b87d160d34ea74f87c79272575bca87:4e9e6dd21c588b841a307bb653fca465600d2bb4ad3d0b159b78fd12ef9ad299&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d99035b2bfba243c2c47d21e84ed15ec367cefce60ca351e1c57be2ed62cd181:c54954a7ed39e2d48d4b8570f22b1e98ebe76bfd70d4c8a87cf7775cfd4aa083&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: 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Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-25 04:15:05+00:00</li>\n<li>interpretation: Down 3.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.79292623915084, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -3.79292623915084, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: 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&#x27;aib_bronze.equity_ohlcv:aee43ee1ffffbf686e1e663e8e103f7ca43a72da4e14e66fd168a516f6aabcac:2d76425c925d62af47c5557247834ecdc3bd0fab949d735ba7a0cd8b7ce52b0a&#x27;, &#x27;aib_bronze.equity_ohlcv:d8c8c8f0c6e487f6ece07de6c39cac613c18c790ce45f733d910238e863e2dd1:d1eda85282ea4ffad56b164dda1b9c412f129d33e44bee505d8bcb9a521b96b6&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.2080586345957}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: the comparison market set is incomplete or unverified</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; the comparison market set is incomplete or unverified; prediction-market probabilities; thin market liquidity</li>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-24</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-24</td><td class=\"num\">110,861</td><td class=\"num\">24</td><td>—</td><td class=\"num\">20.39</td></tr>\n<tr><td>CISO</td><td>2026-10-24</td><td class=\"num\">557,666</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-3.986</td></tr>\n<tr><td>ERCO</td><td>2026-10-24</td><td class=\"num\">1,264,110</td><td class=\"num\">24</td><td>—</td><td class=\"num\">4.275</td></tr>\n<tr><td>PJM</td><td>2026-10-24</td><td class=\"num\">1,982,836</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.125</td></tr>\n<tr><td>SOCO</td><td>2026-10-24</td><td class=\"num\">528,572</td><td class=\"num\">24</td><td>—</td><td class=\"num\">7.312</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">42.76</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">33.53</td><td class=\"num\">0</td><td class=\"num\">-9.232</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">35.75</td><td class=\"num\">0</td><td class=\"num\">-7.014</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">44.84</td><td class=\"num\">0</td><td class=\"num\">3.271</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">41.57</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-10-24</li>\n<li>frontier SKU: —</li>\n<li>frontier spot (offered $/hr): —</li>\n<li>offered-only day: 1</li>\n<li>sources: 0</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>419 benchmarked model identities; 247 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td class=\"num\">21,735,996,735,165</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 7,875,698,655,630</td></tr>\n<tr><td>Kimi K3.1 Pro</td><td class=\"num\">55.1</td><td>$2 / $10</td><td>≥ 375,186,760,591</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 849,889,858,407</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,057,912,834,705</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 1,587,972,054,762</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 7,294,953,745,219</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 352 eligible configurations.</p>\n<p>Usage window: 2026-09-25 → 2026-10-24. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-25 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;3f4a9a7bcb6c5039ae0b8d2224a8ecd96a6a16dc5eef6fa8b117765c7294f646&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;1b60edfe67f21dfa8bb335678c5db276a769c68844d5a20d623574b57d521626&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;09c7124f4079ea1c1aafb4d7aea83775f9ed104e1106d4d0c30c35c6bc00c0b2&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-25 04:13:01&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-25 04:13:09&quot;, &quot;record_count&quot;: 1892, &quot;records_hash&quot;: &quot;63bf765221bdc2a7a19482fb2e3f38e87300143013da2318e84e80221fde23d5&quot;, &quot;snapshot_id&quot;: &quot;21d2656725e073548f05c58294a462486e8822a06ebd6df0381058a85cbd32bc&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;9aaf37b872a1d05f6049b0d111954c78daf00d0119eb9b41864ca653c7dd96c7&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;b7246e45d478c3afac99eea3bdc370e3316c0ab9c5f20d3a5c836be8d4731b8c&quot;, &quot;5ca3c09f3a6bc8b61ff6516372e6d99b9b85664ce2efe1e88d383909fb1308d9&quot;, &quot;f9fc4e50fbf5f780b98f2998fd5c65dd8efb67bd7e11b2dc9e45af0e02de17f0&quot;, &quot;0ee28c1b18c2d8c4c0affea59719ed075da63837395351b1331a09634ac0cfa7&quot;, &quot;f6c8a507b68525697c54ef198c12e5132dfba1c2f56688f7180be66df694dd0b&quot;, &quot;1c6ec25dbb492ede667d1ed168c2d4f3436642a5f3377e9aa0537f17c4f4cadf&quot;, &quot;4e237114d0ef985f57103db1a4acafa69cd3cb98aec2493b3112718f3a8db39a&quot;, &quot;006f246b3df23d2088aabf5aa95a3dd25de13007718f909d06286af354dc8566&quot;, &quot;f638368c7534c0a18fedb13858b9938a7482bae94afadca0923a1fa5e1c4cc98&quot;, &quot;26aeb05bff1a636d015d046694c972025e0fa7668ade9c50888c7a3c25fea43c&quot;, &quot;1df5df9992a9f017c9a0749ae74f0e3d485923efb8e0085a8a6530442b75872e&quot;, &quot;4eaad303b86abff242c8c2fc0b22f21d5957159c956fa7ac3e8929fb7ba010f5&quot;, &quot;09b9282691509bff086f6b5c7d21ebd6ac01c28fc38d3759a9156cba3a0f588d&quot;, &quot;00a6a2b14bc78e6e628be2744aea1c1563f6e624ce379904c49737eb2b38bd19&quot;, &quot;172a06fbb5377133bc760195868f2ec074dcd3c53cee3574af27425089bed978&quot;, &quot;d6a208eb722bef15e87d61d7cdaa2d1d3f9e242595a3a97357b8915ba9a005f6&quot;, &quot;f903cba96a154889cd795d3b22d39aa3a37067a999567c0f95ddab943ff4f234&quot;, &quot;5567b13e74b1acd158ed072b2f32f98c7dc8388460339eec3a621cca93879f78&quot;, &quot;e7ed39b7fdd54bb109413aaac236a0c7deba26c0d4b682fd3835bfebfdc785fb&quot;, &quot;62484db6f4872220ed4b5b1f936b390c65f1d364c2434f2579b6a550ddab1940&quot;, &quot;cc07dbe2444211afb7279796d52f7a53195e994c2ae8f77cf7cc05125b73385e&quot;, &quot;32bd136b51ff5ad34f0afc855a0aed3d2b48dc85f3d212746cbf737012ef6aec&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-25 04:13:10&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-25 04:13:12&quot;, &quot;record_count&quot;: 794, &quot;records_hash&quot;: &quot;517ff057378c48cbfd086dd0c774565ae2aa991543aa5534b00fad660e158740&quot;, &quot;snapshot_id&quot;: &quot;d6feb65250e67c496a4592cf8099fc8999a26934d8ae74f30442908433e58f2c&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;b403ad5583988581eda7bca88e8b5c87ec441c295c3fdddafb8309f5d97cce08&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;9a3b561787b6f3cd34536352dbd7fe0a939bc7255dc38f28a2c032d176791287&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-25 04:13:01&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-25 04:13:09&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;b85ed506fa297981e1ddd88794f6338305528dfa2d72df3a73df549c478f22ed&quot;, &quot;snapshot_id&quot;: &quot;d489d74c71837726670332ffe60e0ad379d8b6f1a7b9a46741a5ea05d45dd1b6&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;3606ee7e0a14f95bd7197aa28880e20dd0038de67703f01d8d114f09bf01678a&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;80e9c548046b2f94f5fefc6c96625bb0d2f4e0154cc6e7a3a27ec895f18e09f3&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-25 04:13:01&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-25 04:13:08&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;22275526494b9759dc17f331420b302ae26265363aedbc8285c73dc4a2206992&quot;, &quot;snapshot_id&quot;: &quot;ec4ff77d06be3cdfed364f4c94e1bd65ad43cb3e186e4581c595c1e94fa01989&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-25 22:45:42</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">155</td><td>2026-10-25 04:15:33</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-25 06:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">8</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 04:13:09</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">11</td><td>2026-10-25 23:06:28</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-25 23:08:19</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4435</td><td>2026-10-25 04:15:33</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">141171</td><td>2026-10-25 04:12:57</td><td>—</td><td>partial: 5 symbols failed: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">137</td><td>2026-10-25 22:01:49</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 23:38:05</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">467</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">651</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1892</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">794</td><td>2026-10-25 04:12:58</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 04:13:12</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-25 06:10:06</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-25 04:12:57</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-26T06:10:10Z",
      "id": "urn:prexel:issue:b73a0203-bbb2-5bb9-8c14-15d2ebbed10c",
      "summary": "Prexel daily — period ending 2026-10-25. 51 charts: 28 with a read, 23 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 55 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-25-daily-b2cd36b4d8b6.html"
    },
    {
      "_prexel": {
        "content_hash": "4b07eadad2c2e88b314ae8231e2d17077825257d4ce23f87c11ead6a9331d98e",
        "context_hash": "89fceb41f081a653b2fa7b2817d24d96cb0ad1bc688a5725003dbfb1d4db8e49",
        "kind": "daily",
        "period_end": "2026-10-24"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 54 (daily)</h1>\n<p>Period: 2026-10-24 → 2026-10-24</p>\n<p>Context hash: <code>89fceb41f081a653b2fa7b2817d24d96cb0ad1bc688a5725003dbfb1d4db8e49</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>AI-complex correlation regime: ▼ Bearish — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>H100 spot rental price: ▼ Bearish — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-24T04:12:09.564030+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction; Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>AI-complex correlation regime: ▼ Bearish — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Source correction; Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Implied OpenAI valuation: ⊘ No read — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>B200 vs H100 rental price: ⊘ No read — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>GPU rental availability: ⊘ No read — GPU rental-provider pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>GPU marketplace depth: ⊘ No read — GPU rental lessor pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>H100 spot rental price: ⊘ No read — H100 rental-provider pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California data-centre siting economics at day-ahead power prices (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — California data-centre power economics net of fuel (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>PJM electricity demand: ⊘ No read — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — PJM real-time power-price premium over day-ahead (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-10-24T11:12:15.207742+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 51 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 28 usable / 23 no read — 12 bullish, 10 bearish, 6 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-24 11:12:13+00:00</td><td>Required chart evidence unavailable: compute_market.gpu_market_depth</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough ratio history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: availability unavailable</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough marketplace history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single marketplace panel; single source or empty</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals; provider coverage is incomplete; affected population measures are unavailable; single source or empty</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:12:24+00:00</li>\n<li>interpretation: Up 7.5% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 7.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.545870192806747, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 7.545870192806747, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3421317853, &#x27;total_tokens&#x27;: 255413873822390}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:12:26+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.22pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.21809961389415378, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.010725223593, &#x27;top10_share_change_14d_pp&#x27;: 0.21809961389415378}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:12:26+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 4 cuts, 4 raises.; Fixed-basket price at prior-day token weights: $0.711/Mtok.; Seven-day like-for-like change: +4.91%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.911439169581033, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 350, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7108439638877949, &#x27;like_for_like_change_7d_pct&#x27;: 4.911439169581033, &#x27;price_cut_model_count&#x27;: 4, &#x27;price_raise_model_count&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:12:26+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: +5.35%.; Token-weighted effective price: $0.722/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.3485458673234065, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 5.3485458673234065, &#x27;effective_price_usd_mtok&#x27;: 0.7223061038945803, &#x27;matched_model_count&#x27;: 352, &#x27;total_standard_tokens&#x27;: 154600360379589, &#x27;unmatched_token_share&#x27;: 3.661755944225083}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-23 18:13:54+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +152.7%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.71966527196653, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 152.71966527196653, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:12:26+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: +1.47pp.; Open-weights share of routed standard tokens: 71.2%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-2.06pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 1.4697134414825257, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -2.0614709941178972, &#x27;chinese_lab_token_share&#x27;: 67.79069867811883, &#x27;matched_model_count&#x27;: 352, &#x27;openweights_share_change_14d_pp&#x27;: 1.4697134414825257, &#x27;openweights_token_share&#x27;: 71.20040236743984}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre siting economics at day-ahead power prices</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:12:26+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $48.91/MWh vs prior 14-day $52.79/MWh (-7.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.336945741379078, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 48.91231880952381, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 52.78513556547619, &#x27;caiso_da_trend_pct&#x27;: -7.336945741379078}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: California data-centre power economics net of fuel</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:12:26+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.50 MMBtu/MWh vs prior 14-day 17.21 (-9.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -9.93537930075427, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 15.50063867469357, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.21057453453905, &#x27;caiso_heat_rate_trend_pct&#x27;: -9.93537930075427, &#x27;gas_print_max_lag_days&#x27;: 3}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 01:14:16+00:00</li>\n<li>interpretation: PJM total load growth exceeds the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +3.74% vs control mean +0.70% (gap +3.04pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 3.0445193111283584, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 8.376204055246165, &#x27;dc_load_premium_pp&#x27;: 3.0445193111283584, &#x27;erco_load_yoy_7d_pct&#x27;: -6.980486427914242, &#x27;pjm_load_yoy_7d_pct&#x27;: 3.7423781247943197}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:12:26+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +12.70% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 12.697121461173575, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 61092.0, &#x27;nova_load_yoy_7d_pct&#x27;: 12.697121461173575, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Down 19.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -19.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: PJM real-time power-price premium over day-ahead</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: descriptive z not calibrated; price spread not load forecast error; weekly mean scaled by daily spread std</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Down 4.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.82%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Down 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.9400401625666936, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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11:14:45+00:00</li>\n<li>interpretation: Down 34.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -34.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -34.038926579829635, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -34.038926579829635, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Down 6.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.81%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.812099468411237, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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13.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -13.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.071210129251776, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -13.071210129251776, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bbd6b90ab4f56f301ff741490e4e8379637f594cdc0a7a866871f8ffa53f485a&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;SOX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;fc64a49da371a17eb1297164a391193db81f85cf790aa7609df38405d9c3213e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;63eb4aa965576f6466bffef30878ef9f15a099bdd3547e756c6e1faf62b5ec1a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f784110604311ff8e65bcc45ffa701fe49e720922c8fa7854d1c651e531b0df2&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;SOX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-24 11:08:58.813000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8cc26615a1ba2487cf0c1f200f05b0b9731e1cd612111b30556049f37819b4e2:4f08fa057973a16c08b8eab1d277e4222b5c8dd98adbf6a26bbc7abc3da19915&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:59d604572ca718725ad80ff797bb70c311874dc59f4c54e3b9f9362edaae0af3:f42676963c371c324a1f06e6acbd6365b25420b783c11ff2c07cf09ca08e273c&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:59d604572ca718725ad80ff797bb70c311874dc59f4c54e3b9f9362edaae0af3:f42676963c371c324a1f06e6acbd6365b25420b783c11ff2c07cf09ca08e273c&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;aib_bronze.equity_ohlcv:8cc26615a1ba2487cf0c1f200f05b0b9731e1cd612111b30556049f37819b4e2:4f08fa057973a16c08b8eab1d277e4222b5c8dd98adbf6a26bbc7abc3da19915&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 121.26510958085639}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Down 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.9516716876558085, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.9516716876558085, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;JAAA.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;eb8e4f4000754b2ea46861383c5b3d1522c39a828d4bc145f948fae3a8c9ae7f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2f80af9aac44c2ff1a5ffa6c9b9586fd0f00bedeb85fb212ebc584d65682445e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;889a3b3016daacf280bf09340aaa31439527f1e72c695069df3f533f4a976df4&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;0f193ba643fd584a575eac3cf3efec65ec49820b15c59976aa932ecd3ca31262&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ae499467ad023c9417537140683ba60c7510365b0f8df612293207a670e381a1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f5df594ae42d274e28d6db57bbebd4f4305d1f5118401ee16ea7a3a86fd984b5&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:4b33a9c1c874d45bc185926759685972cf1dc1eb651c3e2b87910eb4fc1d3a1f:ae7b75e58a82f8afd72fcad90ce60e3ebd89ff0645f49bf0f93e7add0c59d25c&#x27;, &#x27;aib_bronze.equity_ohlcv:674633f00fc4178edb869f6f38c7fbe119da307b94ff8eafca7464ae4fd21296:8c1d0b34b8fb3481dfd06e9c7503b5c1411671747b819c0fc3dc3717b0a12c4a&#x27;, &#x27;aib_bronze.equity_ohlcv:be109e91f5372a46176996f3cc062dac3d3b1da16e703bb5cbc99da6714997ce:e13f84e18712f8b3a6d4e568c2c76a97ea4e673adbe4e16f5d81db85bd6ebd12&#x27;, &#x27;aib_bronze.equity_ohlcv:c5cca63967e5d697edf7b3df7b7b0d1ede4c96628f484d4aa5be04abfab6198e:2c661cc88649b6e38d968c20e7257bf012415d9448d3af98cd6f888d6d2da7b0&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.87493402950193}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ▼ Bearish</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: The AI complex is trading as one narrative — median pairwise correlation sits in the top quintile of its two-year history.</li>\n<li>evidence: 63-day median pairwise correlation: 0.307.; Two-year own-history percentile: 81.0.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 81.03092783505154, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.3074703120281723, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.29%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.2933362053486719, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.2933362053486719, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;60659a3f408af966966ad6999cdf4b4ec3c18e9c61edb0c0c5172d1e3d348f09&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b5133b44150535fb9c17eaf0636b2dfe3c88789064f1e6ca56758cda0bf049cc&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;0b2131248446fb4407d2fa8d7f20ddcd29bac2ef7aa10da7328fd1023aabfd5f&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;21c7b68c0272fe15b863b944f9e8caf83229b0326e2d03f04fd316a54692e281&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d3614f245dc6f1ab59cc32f8a694871054a96e1e15c2d5f544e8fd29b6fff7d4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b15c7d21e28e509a690139334e36e5634b462988ae4333b93d7ef424a340aa1d&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-24 04:11:04.188000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:976c9b0ce46b48f8f6b1e034073f8d7803f9e75e834f9aaf5c0cc22ce626f0db:681a587755e24f7e650ced5fe4f07466d841fecf85efb77d85365021328b2b39&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:aee43ee1ffffbf686e1e663e8e103f7ca43a72da4e14e66fd168a516f6aabcac:2d76425c925d62af47c5557247834ecdc3bd0fab949d735ba7a0cd8b7ce52b0a&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:14308d02f80641123ff2d4a1d1aecddb2d27d9a2bb11f1c7b4a8d3bb179b96a3:ca6822355c0ade3a30aa9df86a4377bdcd0a5eed5445458c7641ee681ba1d5c7&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d8c8c8f0c6e487f6ece07de6c39cac613c18c790ce45f733d910238e863e2dd1:d1eda85282ea4ffad56b164dda1b9c412f129d33e44bee505d8bcb9a521b96b6&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:14308d02f80641123ff2d4a1d1aecddb2d27d9a2bb11f1c7b4a8d3bb179b96a3:ca6822355c0ade3a30aa9df86a4377bdcd0a5eed5445458c7641ee681ba1d5c7&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:976c9b0ce46b48f8f6b1e034073f8d7803f9e75e834f9aaf5c0cc22ce626f0db:681a587755e24f7e650ced5fe4f07466d841fecf85efb77d85365021328b2b39&#x27;, &#x27;aib_bronze.equity_ohlcv:aee43ee1ffffbf686e1e663e8e103f7ca43a72da4e14e66fd168a516f6aabcac:2d76425c925d62af47c5557247834ecdc3bd0fab949d735ba7a0cd8b7ce52b0a&#x27;, &#x27;aib_bronze.equity_ohlcv:d8c8c8f0c6e487f6ece07de6c39cac613c18c790ce45f733d910238e863e2dd1:d1eda85282ea4ffad56b164dda1b9c412f129d33e44bee505d8bcb9a521b96b6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.89867249214379}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Up 3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.5819573524400017, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 3.5819573524400017, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bbd6b90ab4f56f301ff741490e4e8379637f594cdc0a7a866871f8ffa53f485a&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;872981615470704928cfd7ca41f337dadde25825c74fbcb978d0319e30895134&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;faf1788ffcaa5af63bb8081a3244cee472b5b036631438afe31ad62ee42fe4d5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9b6cca2510fd860d30b257cfed452c84d5b3b461ce83ed68585178a00858151d&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-24 04:11:04.188000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:56fc4866e1c945c80dc3d0ae0e2ab14b981c0c8da59af6d372049c16f0338010:1df09c169de3b4b555ae4c8522fbf5b81d53495fb11d8c45d01c9f470b28d964&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:540a5a72dad1886445475e31f7682575c166de43f7bda0d8e9fc3c0537ac18e0:dbe8dbaf684955d44ae6937fcc03c78df5a2ca26ef8345cc38bc0b796a3da11b&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:540a5a72dad1886445475e31f7682575c166de43f7bda0d8e9fc3c0537ac18e0:dbe8dbaf684955d44ae6937fcc03c78df5a2ca26ef8345cc38bc0b796a3da11b&#x27;, &#x27;aib_bronze.equity_ohlcv:56fc4866e1c945c80dc3d0ae0e2ab14b981c0c8da59af6d372049c16f0338010:1df09c169de3b4b555ae4c8522fbf5b81d53495fb11d8c45d01c9f470b28d964&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 100.71688895002133}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Down 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.9381467958781613, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -3.9381467958781613, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bbd6b90ab4f56f301ff741490e4e8379637f594cdc0a7a866871f8ffa53f485a&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;9c06a41f0ffbd1db797c62910a51ac76bcba96e9437e8ed38987909c1effff0f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4d096898004e7113443553aaa1ce0f06764a722834213be9dd240ef3a6e342f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;add84a20691b60935d82e631959adf8b518a0fd4462e329ab59a3907694a4823&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-24 11:08:58.813000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e897d7550b1e105f612b9d046659aac700b2dd2ae835e399d8d2c10c74ce9820:e0d5bdc203cdd2d302aff8e67c516abf8e354ce1aec7b3420cfd44734faa94b9&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e5e68e64e8fe77ca9cde30659bf9da53f2f4ecea7393c83a6c8a633df31c71d3:0d524a9ef0862d64efd4f97e1849e34aa82fef3d8be366c112fea04c9dde69b9&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;aib_bronze.equity_ohlcv:e5e68e64e8fe77ca9cde30659bf9da53f2f4ecea7393c83a6c8a633df31c71d3:0d524a9ef0862d64efd4f97e1849e34aa82fef3d8be366c112fea04c9dde69b9&#x27;, &#x27;aib_bronze.equity_ohlcv:e897d7550b1e105f612b9d046659aac700b2dd2ae835e399d8d2c10c74ce9820:e0d5bdc203cdd2d302aff8e67c516abf8e354ce1aec7b3420cfd44734faa94b9&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.95456873886415}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Up 8.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.225728370735496, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 8.225728370735496, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;68426c46996348727298fa69e9f5c2709e6399b475100105b0fbb0fa044ae425&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1b239e86705e6adb43e1b6b34c90e828e67dd1c2ba9573a8395ccd603c1c41a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bbd6b90ab4f56f301ff741490e4e8379637f594cdc0a7a866871f8ffa53f485a&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;0510950a297b0b1c5d905b66743ea8d096ddf0c66f355008aa57d7433a557519&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6b49ab511c15b6f4ccd3a8786072d51e8dd2524c0f6a8c3506fcf8e21c747d95&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b59cab46567e60300368ed75562c01c71ee0af80f032d917085c4b216b80c9c1&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-24 04:11:04.188000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dfdcad5381aafb11b9db369f3bd47837a31f95876e98ed7c6a1718fa8a07119a:f749244aed0ecc90a70e328814c13c0a0e4220c4a1efc99c0a83f63a73d864fa&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6f4f6bafe27c2a2748d96189f47338650a6d9e92c6133e4c1f71d310040fe79c:60bbea7b81202ec5b439d71a1c0bd797d076e3929ff74d1e9930776492d75aea&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:6748508d1221c20b0aefd57244e5be2fa712173c7cd65a9cfc7f841a87cfd4f9:5435285e7d821221794411cb3ad4e955d32c708f5ed7af7cabe9689344abf114&#x27;, &#x27;aib_bronze.equity_ohlcv:6f4f6bafe27c2a2748d96189f47338650a6d9e92c6133e4c1f71d310040fe79c:60bbea7b81202ec5b439d71a1c0bd797d076e3929ff74d1e9930776492d75aea&#x27;, &#x27;aib_bronze.equity_ohlcv:9b62331ba071b98dcebacd2076f5f168b0f1078c3d97cc4b6501acb320fb8aeb:0ec819dc12a6eb0bc64d44ba3e605be41d743d3b061ac8e853602a8ec51b52e2&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:dfdcad5381aafb11b9db369f3bd47837a31f95876e98ed7c6a1718fa8a07119a:f749244aed0ecc90a70e328814c13c0a0e4220c4a1efc99c0a83f63a73d864fa&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 93.28934035513512}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Front VIX at 0.95× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.950.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;cb396579abb0ad3e7717774200ec54ec8c40d6b9df149f31444834ab79a00ead&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed20e1555ae15d339cbb31e942c2a6bfc1a28ac4e80d98b2b3e033a80658e27b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 567, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b25e9e7769317bfaea7d9716b8271fa0f991837ffab263e0f7962f12961d121b&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;81322dc237d82807990c2f4e595fb98bf15b5e83d5da38072d003beb08e62ec3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2cb73b92287d1fc54c138c7db4ecf356620a8827a14bf184546150724d3e6610&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-24&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 559, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cac409a0fe9a76b1742a3aa98ef8acb19075ed437e2eeeea274e96a3583ec3d4&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-23&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-24 04:11:04.188000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:886a519b30df0f2397c207ff798abf51327630f72f035e293f6a43b407538acd:5e4253fb7e31ab8774cf7657c73a657b587fde1e961ef876955968a57d5435e5&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: 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Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-23 / 2026-10-24 11:14:45+00:00</li>\n<li>interpretation: Down 3.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.79292623915084, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -3.79292623915084, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-24 04:11:04.188000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a90cf460b1662127f1a1e34bb0f51b887e15c002787973ce27d5627dcba9aa2e:44564d76a79ae6e34c6246d406c83bd7db51e2c1f9e76a1ce865793c424139fd&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-23&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:aee43ee1ffffbf686e1e663e8e103f7ca43a72da4e14e66fd168a516f6aabcac:2d76425c925d62af47c5557247834ecdc3bd0fab949d735ba7a0cd8b7ce52b0a&#x27;, &#x27;aib_bronze.equity_ohlcv:d8c8c8f0c6e487f6ece07de6c39cac613c18c790ce45f733d910238e863e2dd1:d1eda85282ea4ffad56b164dda1b9c412f129d33e44bee505d8bcb9a521b96b6&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.2080586345957}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: the current named market set is incomplete or unverified</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; the comparison market set is incomplete or unverified; the current named market set is incomplete or unverified; prediction-market probabilities</li>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-23</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-23</td><td class=\"num\">116,518</td><td class=\"num\">24</td><td>—</td><td class=\"num\">23.28</td></tr>\n<tr><td>CISO</td><td>2026-10-23</td><td class=\"num\">608,588</td><td class=\"num\">24</td><td>—</td><td class=\"num\">2.964</td></tr>\n<tr><td>ERCO</td><td>2026-10-23</td><td class=\"num\">1,280,261</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-1.817</td></tr>\n<tr><td>PJM</td><td>2026-10-23</td><td class=\"num\">2,071,499</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.5884</td></tr>\n<tr><td>SOCO</td><td>2026-10-23</td><td class=\"num\">559,490</td><td class=\"num\">24</td><td>—</td><td class=\"num\">7.449</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.81</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">40.02</td><td class=\"num\">0</td><td class=\"num\">-4.783</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">42.78</td><td class=\"num\">0</td><td class=\"num\">-2.031</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">46.31</td><td class=\"num\">0</td><td class=\"num\">3.043</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">43.26</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): —</li>\n<li>as of: 2026-10-23</li>\n<li>frontier SKU: —</li>\n<li>frontier spot (offered $/hr): —</li>\n<li>offered-only day: 1</li>\n<li>sources: 0</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>419 benchmarked model identities; 247 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td class=\"num\">20,939,230,640,706</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 7,634,500,948,928</td></tr>\n<tr><td>Kimi K3.1 Pro</td><td class=\"num\">55.1</td><td>$2 / $10</td><td>≥ 82,225,192,417</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 956,967,452,286</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,136,357,690,496</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 1,472,571,637,786</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 6,805,681,940,987</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 352 eligible configurations.</p>\n<p>Usage window: 2026-09-24 → 2026-10-23. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-24 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;274b93fb93323da8011a7b1d5b1db9d0912ac9f685f80fcb72ede898ef601cbb&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;ebaa5a6b905027b229a4c65ab3afe3f2e58377f905b3bb7349e06b0bbcda7653&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;4a0bcbbb269038a580fb43f19af52b5b26219083d1b65bbfd1c6fb37da965802&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-24 11:12:31&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-24 11:12:34&quot;, &quot;record_count&quot;: 1888, &quot;records_hash&quot;: &quot;06a217fe6cf6c31372001002adab3393c707f4143050509e2356b96f9a139db8&quot;, &quot;snapshot_id&quot;: &quot;85eff0d10994d6575ff10f7ce964c4e198dae4c0e08a3a4c73a77416c7868cc9&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;4dbc7b2954a9e07f3e7db385dcc5bb32a11acd2deedc74f7d40c9cab950a8576&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;4149a1cec81f654bd77e3942b80e6983149b6c7ddf4f5649721e615e38dd5213&quot;, &quot;8954851d9c9a0bc6a9572af156c8a1baed5db6eea25e7439cd9e32925320a7be&quot;, &quot;2034eeb7ab216a8b379e40949d759c2af7de0c684f82f738842ee75fd63da0f7&quot;, &quot;1354ecac05ed22dfdaf0b964bccf2fe7c1cfca02f9ec198f70896c3726018cb9&quot;, &quot;c681dbce44f6362555159fdd00841dcb6dd62f2cce3ce7f61c6ab2871bc1825b&quot;, &quot;2fbb6d980b6263c14760d1f7d4fc5efa095fdb50dffc37782fcb0cc455596dfd&quot;, &quot;c384d27b8a6f615dc4a13bf01dfda9e1fdb803268906e193aceef5175a28e1af&quot;, &quot;af613b508b79559117d06899d7802f8a1cce7700f51857b99a385e16405570f2&quot;, &quot;8457e162b656c44b7e183644ef63880b877ca0e28dda9c009a87075e5b7dcc0d&quot;, &quot;8dd77c521e39c7b4e6f9f82ba37fae78291f93b93fcfae611b7805703db74636&quot;, &quot;5a7dee8e7a567743ac61482dd10bc95cdcb0a05c0f64e7934d1584b5725cb1ce&quot;, &quot;53aa3273bd3db47542e348391eb2bb750429218385ac9951d9f2c8e78f3d97a1&quot;, &quot;28f4cd7eef7e32e33d4317841e58d3bdac1d1922e4551575b7e7b5e9f7d6ad93&quot;, &quot;0c3c7d4f931fba87800ca22ee0f84bd2b201d4290cd4a706ecc76999b5d139f6&quot;, &quot;005bcd52ae4db6c39fabc18951bb068a520b4379e3e95ae7785e4849dc5bd661&quot;, &quot;a8bfd53102f27899a1c6bdacf62328cdb65c4127c4847d7335bfdd619ff31912&quot;, &quot;f7321d11d76a9fdc4e4cd07c95a762d41e3414576ae4ea96bd0800bba9070879&quot;, &quot;3e8c45ccccfe70b772c5db3c67d594c6e85353b8b4bad87d439ae72227461f68&quot;, &quot;942a1f1f9a6af715bf63af9bcb9d482ea2b4232fbd5308390d593947b4e0efa3&quot;, &quot;43b4727ff12b226a9d7929f6a434a1491d3ae65463c48862d119d691e5753912&quot;, &quot;1231e672127d5810086e939e0e3f20bf6ea8691ec8447cecc7dc29ccc7de4dd1&quot;, &quot;baf6109bacf3e2f46860b1a1a612e3745286a298bc6ed87f5e17fe785d843b81&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-24 11:12:41&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-24 11:12:52&quot;, &quot;record_count&quot;: 809, &quot;records_hash&quot;: &quot;704419829344789fba5666843818477498f249ccee44abc614db2d76488de909&quot;, &quot;snapshot_id&quot;: &quot;361494a10f93189e60558503580b7de09b9552c3d1fc637050e05d322b82fd61&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;5d1d07158f071b06ec470f736fe4d827ef79c9388d231a21be800d40ec3b82f2&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;56e531b8e72d1e7d12eb7c868849ffef19b796781ebddde895ea29dbf54b13de&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-24 11:12:31&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-24 11:12:34&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;e0df88f1eec9b0e4788d4810f3355b4f1d051624863759b72dd6e39b8702ced9&quot;, &quot;snapshot_id&quot;: &quot;2b1c181218dd4530f02bd157340c9862c8bb7c5d1d108e37547e931a72c7f2f8&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;f7940ad94095ff7784bb326483f9172e09c670405641b22e19d803e034112031&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;a97940bc7a0f8c85a399c38d53a3653f799fca3659aaa5e32486a1714b07046d&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-24 04:09:28&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-24 04:09:35&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;af48e9f1f0268b6321a6c9fcd4daf257efe0f2183015a26fd8c77bd5bbece01c&quot;, &quot;snapshot_id&quot;: &quot;56ac89da77d0bda42e90b4ed52ee6c4c1652a3de718d8571c93010e8ff3efb2e&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-24 23:46:51</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">8</td><td>2026-10-24 11:15:16</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-24 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:22</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:34</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">11</td><td>2026-10-24 23:21:56</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-24 23:07:58</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4421</td><td>2026-10-24 11:15:16</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">141170</td><td>2026-10-24 11:12:22</td><td>—</td><td>partial: 5 symbols failed: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">151</td><td>2026-10-24 23:11:04</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 23:23:24</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">469</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">651</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-24 11:12:22</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-24 11:12:22</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1888</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">809</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-24 11:12:41</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-24 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">21552</td><td>2026-10-24 11:12:23</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-24 11:12:22</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-25T06:10:11Z",
      "id": "urn:prexel:issue:4b213c0f-9175-5ceb-ab13-7808d0275e85",
      "summary": "Prexel daily — period ending 2026-10-24. 51 charts: 28 with a read, 23 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 54 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-24-daily-4b07eadad2c2.html"
    },
    {
      "_prexel": {
        "content_hash": "8c4ce0030ecaeb350d24ed0796bc53b49c0a0be5506b53df2d9cea2e2b5299f4",
        "context_hash": "878ec6082c0824c7be9d1fd333fe2ebf5ddecbbb99303985e43decc03a87b423",
        "kind": "daily",
        "period_end": "2026-10-23"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 53 (daily)</h1>\n<p>Period: 2026-10-23 → 2026-10-23</p>\n<p>Context hash: <code>878ec6082c0824c7be9d1fd333fe2ebf5ddecbbb99303985e43decc03a87b423</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>18 distinct notices · 275 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>39c7fa6595a5eeb9868c38a5877498bd4a593b4e836a5d65bd3dc8fa3cf12307</code> · effective 2026-09-22 05:57:30 · correction <code>fb3398c4074fdf8e3752db30081f21a717074afd522bd7fb21f5271994bc7cf2</code> · hash <code>51db38bcc82c7e154e3e50952bcc375b4860a77118e1536cbd738586f100f7b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc8b5083f2f08f9ed14efc05e78d48fe95986eaa23d520efead6b6a05e74e230</code> · effective 2026-09-22 05:57:30 · correction <code>f9ec6589458de134e88bf84237d996f3152454effdf94665f1f323754f0c40d3</code> · hash <code>15f97e4c4d923d9c033e8e9622451befdfc734c18f87992c19c14b632876851b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d7164a1757e0ec02899d9d581422012129634a220f38a5bff0312b112209c166</code> · effective 2026-09-22 05:57:30 · correction <code>f276c76b6e4d773342fcd97f891ca70fafd7c4ec3642b263c0337078ad1922c2</code> · hash <code>26de01c4ef172b62dc5d982ad04668c9145a3b3f5f01979c229e4d0305d35d43</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7232a69b29f44bfed04fef6542da680576c303702a4d11ff0357efa302acdfc9</code> · effective 2026-09-22 05:57:30 · correction <code>e5c53d72345b74ea5b0fe0b4a220fcd6a027d7af0b674357f8d78b8c9ab04c96</code> · hash <code>b1dba7048481fc53fffb67589af4bba4454c813ee3849f6085db6954c126cd0b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>63ad79b4d107b90bc7c7d9d7afccba4b1765f1c5f653ff9c98f3e0418c594951</code> · effective 2026-09-22 05:57:30 · correction <code>e2050c7a7f5e6b4df876dac570a5a5fcde5a0ffdd05b88bfb7844fa3e2bfcff5</code> · hash <code>b13561c6794ce8c745808ab63974aa0e7f8bfb29f3d5ae932468a117efcf3e9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1d87890e749780512b2274ae5c7869e46a4da121a82928a3e7a5f3047edbd892</code> · effective 2026-09-22 05:57:30 · correction <code>cca8f81a23e6e9cdeaedcd99a83fc3f6f43b65406ffbbde5119b3c211aa86a2f</code> · hash <code>0eab8dbc33a055ca32cab2adc0b7f0f7a51bf9ef5b8c231b361ac66287a4ca13</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>2864dd817013f1b52a1abe53495cc02bf9e3113a11ef6c2e0372ea0ecc3aa82c</code> · effective 2026-09-22 05:57:30 · correction <code>ca749eb54344cec7254a98b0d23b6db635228f3d9e98d6834745658b6e9cef36</code> · hash <code>7c2c382e68204f65488f50d8043dd9205b3c2aedd65b4045cf1bdba052690adb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a57ca15b57a173270ad91a9abbbc4163f0e2b7945c1b118339e98cebb7c9c6f4</code> · effective 2026-09-22 05:57:30 · correction <code>c7be7a3b9d061437f10b6573f49950a3db1fc1a592bb623d77e4840f84f6797a</code> · hash <code>a04688f589cef4b20c96902490bd94407efbe5fb194eb578251c6818fd249c5a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>c06839fa78372723712ccb80185c0903cf84febfa518b1d3b734c06b0a6eac0b</code> · effective 2026-09-22 05:57:30 · correction <code>b2af6940978a3c3de71eb68127fdbeadced59e8e3a48e42fca6813a2545268d1</code> · hash <code>ee50fa08dedbe0f6082e7a5ada2ab49242a1983a079153ca2afd215219bdcf72</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-22 05:57:30 · correction <code>94f4c4f62c5fa39ac38b4395626090ea87062c933ce5ed1bf3d199c8b9bf4857</code> · hash <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>52980c217fe5c9fbd1f37e702c55cbd5de236e277a59f4ef4621a487c77ca0dc</code> · effective 2026-09-22 05:57:30 · correction <code>77cf6aa102b72689c6285e58c5d2a5751dae872401ddfdc2bf9e982a854d1eb7</code> · hash <code>61e900ba51acc74d4b165dc81033a4832149e430a27c3699dcafb38fa66159a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>fe0d4bf38a932951f50f2ced97910aa25ab96e7475ccc5bc81513200cdac356e</code> · effective 2026-09-22 05:57:30 · correction <code>6a586906cdbf8f7ae6d33613c733ea25788449a4ea7bb40abb9e25c876e3e39b</code> · hash <code>ba64e58e00a04826eeb239a085c3bcba17cdf2bce0a54be835504db91ec77266</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8c3c75f268594c3f70f547f1df4e7c18121332d9e20a53f0afebdb811df65998</code> · effective 2026-09-22 05:57:30 · correction <code>62b922c089fd3c141b4c8bcc7adca7897ed04e3e343687132286f1a00d0bd5d8</code> · hash <code>a713c346e59fbceb62de0ef79a1eeb9d64c5dddd13639fe4fc0493ab1b38fb7e</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>8f7177a4b809a1565466c4a5837e32534259c8fa1734d565507fef587682b2f2</code> · effective 2026-09-22 05:57:30 · correction <code>5d241f8a53e6be14b7d85266be443ba652111c438d2c073678ff723769849986</code> · hash <code>42852eed81080178ccb46b568ccb61011649c2fcf4a917ff9660c6523e98e584</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>23cd377389b2f54fc572ec40c2cec9f42f4b7f4d7703fdeca5830d6b43538cb7</code> · effective 2026-09-22 05:57:30 · correction <code>50322e35439cd6e87c3d3a17f24098cbc4468a1713679add64d3a46c2124d42d</code> · hash <code>e82638bbb15471d40bb87953b7a34958dee5e7b8468e1df239d78ef9d6a17063</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>386fa79e9d11b9b67eef7464394ad322befc1699c01dd36a2b4cf7eaf6582335</code> · effective 2026-09-22 05:57:30 · correction <code>486a1994c1d0ed73ffdcad9a07e1407f32d370b930ab7d7e4f0cee267888e93a</code> · hash <code>0b69707680db06d0885320592ff1052288dc3d294a33806f921569ba383e4832</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>4f05ba2cac1a0a76cac2c4fcd8b741b388c68b963974bddaa40d230281fc2148</code> · effective 2026-09-22 05:57:30 · correction <code>395de3b5c5f62c0a2f6fe360f5c31ae8309471d4981574fb408e6decb1777db1</code> · hash <code>93deea17f1d7c66589da7b0aa7befb72ee0d274800186edcb0b3cffa9399a4b1</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-22 05:57:30 · correction <code>27d315628855a8c2e59bd6175f5495a0a361783d22d2470bf099f9b9ec08b2b9</code> · hash <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5ba5db5fbac5be691029ec15c3228d3e3e98901e46bc8d3e922c2dd21eb04949</code> · effective 2026-09-22 05:57:30 · correction <code>25dd9761180bc699a90fdde711daf080c8630e95be797f7e3c639e6e2afcd66e</code> · hash <code>cacb026d813e3160bdaec1dbbf00dc793e1a6a74a3dfa85d030feaf2fc3f7662</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>442a1934755b8574db55ff1eaf708c108dd85c2f02cf4d2db275b47b0d999fc1</code> · effective 2026-09-22 05:57:30 · correction <code>20ab4beeb60e35fcffcefec2c9777b3eaf6ce4e005f153b5a42d8850c0fc1f21</code> · hash <code>f25da97d78f7b429db6f5665b8ad6279dccd8c1a0778bc362843e9e5f21b5473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>b800a423bf85b633f5d948154a7b402b0403b2dc6a303d304ecb211696155d66</code> · effective 2026-09-22 05:57:30 · correction <code>1aa9c5985952931a7541f0db1fc8402be3ef8bdb7db735a445f8db376935f557</code> · hash <code>3d74eca9ca4174acb09a6e05f7ac85555fe3e7147ce7ada19d42f8b13ffba3b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-22 05:57:30 · correction <code>139c562dbab550da6a12a6b882c4cf4b48020cbd08bbc1e020dbe179d90ba420</code> · hash <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-22 05:57:30 · correction <code>02e7b618ec1952a163a963c78a49cfa59da3dd84b085432a3b9d140cbf8f8276</code> · hash <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n<li>observation_revision · <code>11b1c46c591308b6b77578ecfa676bbc4e9d52b453d216db79201b3fbc5c89d1</code> · effective 2026-09-22 05:57:30 · correction <code>0057af6b1341934dad9061b72b20b425a55a389c0969a2487928a3271d46a67d</code> · hash <code>06642bcd8bcacf24c81946a94eb39c26dd31a31e23c570fd72496a4313e8ab84</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>power-z-publication-floor-2026-09-22-v1</code> · effective 2026-09-22 05:57:30 · correction <code>15aece1b488cb9178e56178b93360508c4adc8a55c4ebe48a261dc84385ff999</code> · hash <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Replacement record: <code>{&quot;evidence_sha256&quot;:&quot;8d035ae2d9b4bd1dde30e1aa16a44285266d99fa4592d8f7bc3afa94e7757017&quot;,&quot;known_at_policy&quot;:&quot;max_contributing_input_known_at&quot;,&quot;replay_policy&quot;:&quot;knowledge_and_observation_and_archive_before_cutoff&quot;,&quot;tables&quot;:[&quot;aib_silver.inference_demand_daily&quot;,&quot;aib_silver.catalyst_markets_daily&quot;,&quot;aib_silver.catalyst_openai_valuation_daily&quot;,&quot;aib_silver.model_economics_daily&quot;]}</code></p>\n<ul>\n<li>derivation_methodology · <code>dependency-clocks-2026-09-21-v1</code> · effective 2026-09-22 03:58:09 · correction <code>0306ba8e7d8b10a5515dbb8e83a09db5c31b610247f00146d56ccd207583a130</code> · hash <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code></li>\n<ul>\n<li>Evidence: <code>reviews/dependency-clocks-2026-09-21/before-apply.json</code></li>\n<li>Evidence: <code>src/pipeline/silver/dependencies.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Replacement record: <code>{&quot;announcement_date&quot;:&quot;2026-04-07&quot;,&quot;canonical_symbol&quot;:&quot;PSTG.US&quot;,&quot;effective_date&quot;:&quot;2026-04-17&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:37.324138+00:00&quot;,&quot;sha256&quot;:&quot;be95d44e2db298e4f201343dc053f5c27e06e300fffd3a038bc7f1e4d4576522&quot;,&quot;url&quot;:&quot;https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:47.856350+00:00&quot;,&quot;sha256&quot;:&quot;a6be9e6d2bc1c1c065c10b81e69c29e742b809a1b2fb9bc8e245a4be754b7850&quot;,&quot;url&quot;:&quot;https://eodhd.com/financial-summary/P.US&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:35.545988+00:00&quot;,&quot;sha256&quot;:&quot;84c7d103aafd2dda9e573f8dba82a8ff9ff5b9e88d11e3174b9fa19e037a83c0&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/P.US&quot;}],&quot;issuer&quot;:&quot;Everpure, Inc.&quot;,&quot;kind&quot;:&quot;provider_symbol_alias&quot;,&quot;provider_symbol&quot;:&quot;P.US&quot;,&quot;reason&quot;:&quot;Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · effective 2026-09-21 01:56:32 · correction <code>6cf23d575133d99fa36ecc46436a044453c1172044f2f551a64c60b366fb0d45</code> · hash <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.everpuredata.com/company/newsroom/press-releases/everpure-to-change-ticker-symbol.html</code></li>\n<li>Evidence: <code>https://eodhd.com/financial-summary/P.US</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/P.US</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Replacement record: <code>{&quot;canonical_symbol&quot;:&quot;KXIAY.US&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.145833+00:00&quot;,&quot;sha256&quot;:&quot;eacf739d27c34fd86d4519961df63c986743358a2dd817681596a3eb94ad3248&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/KXIAY.US&quot;},{&quot;path&quot;:&quot;reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json&quot;,&quot;sha256&quot;:&quot;df0376b7728b4ace76ff09a283f397a73e6a0b6ce5dfdc37421abe44ff2f343b&quot;}],&quot;kind&quot;:&quot;withhold_symbol&quot;,&quot;reason&quot;:&quot;Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:46:59.625602+00:00&quot;,&quot;review_id&quot;:&quot;e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · effective 2026-09-21 01:56:32 · correction <code>15fdd88b6771faef44ffcb043dcab6287884b9ace00bd208feb0252dc0005f79</code> · hash <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/KXIAY.US</code></li>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/KXIAY.US-retained.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Replacement record: <code>{&quot;as_of&quot;:&quot;2025-09-16&quot;,&quot;canonical_symbol&quot;:&quot;PDN.AU&quot;,&quot;content_hash&quot;:&quot;2a4e5c3f9cacdbf32ff012a9953c06f44a95f64e9e714c2c7fa02e3e6a3c7c00&quot;,&quot;evidence&quot;:[{&quot;received_at&quot;:&quot;2026-09-21T00:41:44.924121+00:00&quot;,&quot;sha256&quot;:&quot;219597f99f0f0d428dabeba938f81c5e764c077540d3bc87341784fbd6bb230c&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21T00:41:46.314570+00:00&quot;,&quot;sha256&quot;:&quot;6b87aeed79653a645eb1bdb59aba0cec7449df3d7853ff3dd81475deec52fac3&quot;,&quot;url&quot;:&quot;https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.710564+00:00&quot;,&quot;sha256&quot;:&quot;cf53dea7a68d8ab1c3ea4ddb46d2c2f303b5082b41ab9911b586bfdd0f6c0b48&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;},{&quot;received_at&quot;:&quot;2026-09-21 00:37:34.993886+00:00&quot;,&quot;sha256&quot;:&quot;4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945&quot;,&quot;url&quot;:&quot;https://eodhd.com/api/eod/PDN.AU&quot;}],&quot;expected_values&quot;:{&quot;adjusted_close&quot;:7.88,&quot;close&quot;:7.88,&quot;high&quot;:7.88,&quot;low&quot;:7.88,&quot;open&quot;:7.88,&quot;volume&quot;:0.0},&quot;kind&quot;:&quot;omit_nontrading_bar&quot;,&quot;reason&quot;:&quot;Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.&quot;,&quot;registered_at&quot;:&quot;2026-09-21T00:42:12.544472+00:00&quot;,&quot;review_id&quot;:&quot;990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf&quot;}</code></p>\n<ul>\n<li>price_history_review · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · effective 2026-09-21 01:56:32 · correction <code>04c2e060ab9acf29564bce7347603082187a657ed44db9aeb76472203eab1aa4</code> · hash <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code></li>\n<ul>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284042.pdf</code></li>\n<li>Evidence: <code>https://www.paladinenergy.com.au/wp-content/uploads/2025/10/61284194.pdf</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n<li>Evidence: <code>https://eodhd.com/api/eod/PDN.AU</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code> · effective 2026-09-20 13:53:45 · correction <code>fe47d3c21232270bb1d907aed0ea66deec54dfa2611a7f9e1bd60f242a0b99f0</code> · hash <code>e0bc7d68aa1c2beb474e5cea7e39192a5d13ce08492f423c93e3558e70cb20b7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fef6f035bfd35079a873e16d5ea09533d299bda2e3e6ae1c3bb4b67c7c6b5c18</code></li>\n</ul>\n<li>observation_revision · <code>5aa10799da26626c7b6016047dd02cf1ec8e93e515f39c442f6733fe546f67e8</code> · effective 2026-09-20 13:53:45 · correction <code>fdeec155c58959915d3037db33278d9c6e01b0120a34b715709e666de028db7b</code> · hash <code>8ca0a7dfcc0ff835017bb5be8d40b832e88b9718424927c14c62bb0e6c26b931</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code> · effective 2026-09-20 13:53:45 · correction <code>f3d9558befd00cdfb1db5d58c6a9c812708117c273d14d2eab4aa365f2c1daa5</code> · hash <code>78a8f85d4ae996b15950a4fbce09140848f4063e41d8e7d06018b80026924b39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f9a55522873738575803d519b8a7f36ad41ef7aea2d02334d998b102aa1a1f2d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code> · effective 2026-09-20 13:53:45 · correction <code>f04cf4aeafe1d98bf78ac6810a1cea776168f187f8c77e5f8a47695e68db9ce1</code> · hash <code>b1fb823c47b46df2b1fbabdccd8cd6b75f7cb9030f6385e42511fb5a07f00558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c1ae916d4fe02f972bfc23517a8778f16187ffa484b53d86fdfd6d7047b5dbc9</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code> · effective 2026-09-20 13:53:45 · correction <code>ece848e06405c11a0645b237a323a29440b29c7358208cf3acc8f10b1f710388</code> · hash <code>ecdb39055094fb4e41b0f45e47876fd6f16fb4d61ad399c1e808f14d81214215</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:fe63ea61fe96e18cb8133105173fb035c189eb81692e15ee425a24c19d9f5946</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code> · effective 2026-09-20 13:53:45 · correction <code>e70964cc1a3f64aa2fb208a2cafb19ebe684cb6433af1a9a94f1c6729da768c2</code> · hash <code>78e140c9ebdfed13e11f43b898aa8a4540ea9d72f94b340477baa9441006bde3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7acb9798c2e16ade64244b372f12d1d09626c3526cc2548b683c36c719925e65</code></li>\n</ul>\n<li>observation_revision · <code>a91484a9b5d9609518781aac2cb8bf10c524e4a34cbc8ed0b583ea8c3e0124eb</code> · effective 2026-09-20 13:53:45 · correction <code>e23e510066a5ce45716b86741a41dd3243d88c1c2ec07d506e1bc14378e654bc</code> · hash <code>23f3b70df70c74c4e1ace6600057bb930c4429780bfcd2265f5e9766534ef943</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>01eae6d805f691434612e9bb1c3675d899eca02213bdb7af49062b7b825a0456</code> · effective 2026-09-20 13:53:45 · correction <code>e08fbd31cda251ab35df04cffa5e36bd6c36c9e0e2b4fe974c844a2dcd69ebd0</code> · hash <code>951c47fc8788b2b7040f3539265d949d6367e40795e1b7c72b6f7416bf613d92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code> · effective 2026-09-20 13:53:45 · correction <code>de139ec31e10d8f360caf825ab924e398c4797d3c5886fcf8f4f5fd87a6d9f18</code> · hash <code>345ea45bc7bc7efa69dba75aa12f7d7db4de9c734a781c532c2b498278649149</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:674bb8dbe7a0eb5f2bace3a63828f5009d67fee804827a385eacdb786dbff5f3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code> · effective 2026-09-20 13:53:45 · correction <code>d97a180839e5a498c73e5ebe0df002fb618cd0cf2e8711ea1336058c3d1bd5b9</code> · hash <code>97e912d05e4ca81a81bf00a29982ba3f8dcf29dbdd8b2b841c9ccee2601360a6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3943b0c9ab8a4ab94f6fe78c3a06134f146d5d1a98debcac71bc341498f9a82c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code> · effective 2026-09-20 13:53:45 · correction <code>d4eba9ced17141e20c1a0af230eacfde124bbeb079216c1c8c36589f98df7a7d</code> · hash <code>1d2cfecb628fc103e7fd743597ff5704dd72795cabfbc9a30112e20e263f8ca3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a21c4323d81eacf3785eb81dd58d993eddef33ca34b79c7296da9a29f7689572</code></li>\n</ul>\n<li>observation_revision · <code>655427bfda71d2d34c52476e84ef675aff18a2035771e2cdd88b611fffb63140</code> · effective 2026-09-20 13:53:45 · correction <code>cb766c596ba3a1de4c1a166b7b52cf70e29ac45973f324f0b5ae47535e0dbbae</code> · hash <code>14d32c3e2530b01995c39a0c851b1b9b72374a3fe5f31e5a0c3a013111ce4e54</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>31cc7d3d7c0c5090818b2d0ccf1ca73ee7db390fed70ebb7f6872ae52de3a6b0</code> · effective 2026-09-20 13:53:45 · correction <code>c86ac9d5bf0885cde893adf4f31679a1a8e21c75e0f81e769a8b7932d6f29e0b</code> · hash <code>7bf84c948d024ef6e822a6d5ff7389344ff8003192732fa3e7320b0d85592bd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code> · effective 2026-09-20 13:53:45 · correction <code>c41ededd3c4cfffb2061cdc59a1f4c515c085988b031a37ed84d1e4e37ee981b</code> · hash <code>7f0959aa6f5d9dfb6dcd5218c2713714d86dcc403b18b7264748c287e049cff9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:20caa4cedef0582d9298e4e7d1038779ee07b657b2ca56bc084aeec6ef03eb2c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code> · effective 2026-09-20 13:53:45 · correction <code>c24979bef8bf2c3abbb78aecb216bcac2461c919b63962e8fff5ee802d02362c</code> · hash <code>3f776c9147bfe251336b4f9320e34e20de274ef3ee4f1607d20f940be5edc324</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:edaae7cc0c278cec0870fb5eb5555bf75ba9e4e27907f5e0a32e5410c7c3afbc</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>9dd7292e0fa42c1de39a32da76da7c478b2498864e7337d52673416605a44cb4</code> · effective 2026-09-20 13:53:45 · correction <code>b94ef69ec4151ec9131b1b9d59c601d833cbc6d2a077c0915dff1ae77ef5938d</code> · hash <code>3b028b9e303689bef2bee36bc32d5c2a532178aa74e816eadfc29143cfd7e6c8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code> · effective 2026-09-20 13:53:45 · correction <code>af0531d7d927778f2dc065de244d61c068749c4897cc83f4a5df324e156f55dd</code> · hash <code>f0a54d8747b3109ebcc3a7847883f4952a4583797fb04288dc1c4fb063759d5c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e16e85fbd363a5a755d1c67dd3cd6485105f2e73409af8e22788371d8f6e4d9d</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>e2b73b6b40d5a91fedd4525bee32d31f36092a952c1b3d9c0e751e70154ff4df</code> · effective 2026-09-20 13:53:45 · correction <code>9587c1cca841b6558e38d3aa12ede903a1e36da7c7a48f0e43f9012627b1e196</code> · hash <code>fc0e2c4d5feccf19dc6c612fcaf7fba23023f4eb1e3657559e7efc7c977ac881</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code> · effective 2026-09-20 13:53:45 · correction <code>94ff6511ae5a46388d423b11e2e86ed5e44d93643de4cfb85000104a603c3ef9</code> · hash <code>9c074e2d426a9c80d0fa947183d37a4bc91bfc7d78351ebe8e1a6df18682b303</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1b0b6a9efc5f263ef9a44a516a8f78425acb860d5bf8e9bdb565247fca142eae</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code> · effective 2026-09-20 13:53:45 · correction <code>934e39ddc239b0d9cbca5395c53431a1d402f359c58d70cbf68c9fa32d5f99be</code> · hash <code>02c7b8602646f08a763c32875478fb8e96b88e6f172a85a10fa329a575007965</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:1203cf8e2db472d3c5d0c25f0af798952868c465f4176bfe4e336a59081cde25</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code> · effective 2026-09-20 13:53:45 · correction <code>8832fd7801d4e6344c884a42d742e4d83e1a5e230593f58b1c270c9802548ccc</code> · hash <code>7297e106fd2d930db8e4eced4d0d0a4a92834bb8b924564fdcb8776adb53c9b5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:76ef372aa541e49ed443afc616ebb351f3df8e454d43dbd0963a6835262ffffc</code></li>\n</ul>\n<li>observation_revision · <code>d65087941234424b124cae9d2c2bf0df7e5141b6f698a51c041d0ef0a414bc61</code> · effective 2026-09-20 13:53:45 · correction <code>8644c9f7939a5510c875ed1dda566bedfd7014436c7355a9138026e3105fff70</code> · hash <code>26aa20aaad3c77fb1f920d8ba8b920d4dc7120de3c117ef7c0d75b929cc14f21</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code> · effective 2026-09-20 13:53:45 · correction <code>8254db6bf7c5c3ab36b73563cbe253952526166c3adeab8ac23b7df54be1343c</code> · hash <code>0c2bad7fe7ff54682baac2b58f1b147a2687d008e2c62da68cd4cf5250d35328</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:94456e90ce70544090662519231a399f08ee293f4ea7df908dc891dfdefd96ed</code></li>\n</ul>\n<li>observation_revision · <code>3e0a066134ebb64515f224eaee49156adb0650a2f3b9df121833942370ff3412</code> · effective 2026-09-20 13:53:45 · correction <code>7ef4d8e88a5bfb4ea8f81369a530f520bde3786d4b0d9059eef3115b64d6cf80</code> · hash <code>9407de73ec4e1b8c0a743df82305cbc09e77e7745f0947777c034467897fda10</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>4359fcf3d40c8c2e3b8cd74dc62840a2abb4e7020c74078b87ab8b46c0600530</code> · effective 2026-09-20 13:53:45 · correction <code>75e97aaa92f622cf3d97156b1c545a81d0709380c7dee26b7c334efa73a3f5e3</code> · hash <code>8555386677ecd761a319f5bb5aa2ed73f05f10c85afc16cd1e18255aa9d305e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>016a7e2b79fc5f795230550a6199c7dbd668cd98d810f1ea51ee21c24e8ce643</code> · effective 2026-09-20 13:53:45 · correction <code>73a442c1835e75868454cb2f83fc373a0b915c6eb3b9989721b82948e79a318d</code> · hash <code>a57195af618246946d08cc144543ae7f9bc39351edf310d5e0fec36cbcd28c4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code> · effective 2026-09-20 13:53:45 · correction <code>6fc48d476662f1af3a53f5bf9e1e068ad910cc92d5c2637e671a1846a520521c</code> · hash <code>516a50171ee73fe7e06a5ac07446a68446d5e1f81ba0bf443160bf9196d26f78</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f37731bb92991b485e65754e45ee4e0682ed49ac48f41eb3f5bf3baaa0dd6115</code></li>\n</ul>\n<li>observation_revision · <code>8b9c34ae11ed54c94605653f966233558154d394e047b4d3da5cdef72fb0182b</code> · effective 2026-09-20 13:53:45 · correction <code>6df1d03d82a9189fc9db9a672eff862a3248f89efe07dc5994db017f9021c9fa</code> · hash <code>676cdc61bcd983e4838971bd3cd2f0bd9ec58e553167f7732627c8980dd242a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>966cb9590c30b060a5a08cb24cfe6359d75c20364fa0d44e342975af62a13d1d</code> · effective 2026-09-20 13:53:45 · correction <code>4d2acbb698cc616b8ae69b8aef79f0b866b99d33f946421d24286999fa65ee91</code> · hash <code>409c8aa1b6c5301a9d4a2e67cf6dff6140f1e451959e6f971e5d6b4cd7dd7ce0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code> · effective 2026-09-20 13:53:45 · correction <code>3fe4cec0c4067aae016be1032a77bac60258f850a7653c5a45e9905c32cc1ef9</code> · hash <code>ce43363cee7aaebc15e607406fdccd6bffd73882d5087206495f0a2d35843c2a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f0d71179d38b44009fa81f692617a2cfaedd844424503bc694fb7ccbcc299622</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code> · effective 2026-09-20 13:53:45 · correction <code>32f6cd23a9dce577d6e663ac6d0514cc90fdde9734e70abccab55975dff86aff</code> · hash <code>edcf716f66eb879672d9ea37de0b9a725ab7196a710c945dd56856a9e2e24f60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:5f0efd924a451c3b5d8d18d1069520260faacea6fe20610bc4538ffa0e09521d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code> · effective 2026-09-20 13:53:45 · correction <code>314295691efee6982df6868ec6d18927c114217d108222efe05056f7017e77d2</code> · hash <code>9499a69c9923bf4f17d1f379fcc34505f4fb318541ba7e1de509e2356015e2b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:b50a4b750d1cfa94a4d84d01898d673c1f30aea412049b69794b0ca39de0b71c</code></li>\n</ul>\n<li>observation_revision · <code>6494ede8702fb17ecf6ba56b23f08bdf5b7f154d4b4acfd748636d8fb37e64ec</code> · effective 2026-09-20 13:53:45 · correction <code>2b6d18fd3dfad7503a40d46160281468de67c7847b141205b9b812ce8c8e9709</code> · hash <code>9a6dcfa19b68a2b818b0f8e8f18aaaaf89b03f6b9aad9a5e71c848e02c29b3c4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>83b855a2dea3b86021d9f96a2c396413fb7b877287839274aa29ae7f7d8911e8</code> · effective 2026-09-20 13:53:45 · correction <code>269190716fecd2bfb6a29c209d9a5c6ecace1c197303f1a8b768d1f6fccb60de</code> · hash <code>bdeb7015c71d49a9182fd31bb4a72a9764387903803540c9df9ae9febb33f187</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>observation_revision · <code>51e78ff8f7a6dc3265f60f822c7ca3a77186c50c3b1a4ed9528fe8497efc8efe</code> · effective 2026-09-20 13:53:45 · correction <code>1b0c54f0872d02037880a281d22bb868db36540d7ace697513baff40db26612d</code> · hash <code>67821d15fe1536f693fa8108e50f2b05623d4acdadbde8da2f8258afab2120a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code> · effective 2026-09-20 13:53:45 · correction <code>19bf97a5a22478b2ae9c47b4f2f6452b261aecffb6f42556ad1bb0a08f1c9e7d</code> · hash <code>d1571ee9150e3704534d6905eeb32dc497688e7d529f1d69ad7a7818c4f6a524</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:88605afe50ff7a3e19130f12369fdc7b2941b38e1b3e07ff1c99dbac82bdc0e1</code></li>\n</ul>\n<li>observation_revision · <code>cea0cd051aa43b97eeb7c6519c051a3bc811a002834e70f2d011573ead9aad7b</code> · effective 2026-09-20 13:53:45 · correction <code>0c01e9093bb0528aaaba4fcf9cf2e7ea7db4ddb50a84777d094fbbb0ceda3bc8</code> · hash <code>4eb61ba398f7314711682e8aa57e50d5c695aca4142cb8d0a9fa1cfc86e2682c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-20 13:53:45 · correction <code>f36de90a60010f8a4a7eb66645fd0184cbb37804063a3478dadd885a57f390b3</code> · hash <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-20 13:53:45 · correction <code>ef2b8384587c9927aa8ebfb50358f3b9fda8031cf5f1b40a6627797a5e6b6928</code> · hash <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-20 13:53:45 · correction <code>7bc8b51cd0ae35688897f04ac534f6ee241e4fecb1fec3126ef104c04d94107c</code> · hash <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-20 13:53:45 · correction <code>602ed289b5861e9c8ebaca2e7b0fcf958e04bcee07dc92290130483f8126613b</code> · hash <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;affected_derivations&quot;:[&quot;market_series_daily&quot;,&quot;correlation_regime_daily&quot;],&quot;legacy_method&quot;:&quot;30_day_rewind&quot;,&quot;replacement_method&quot;:&quot;complete_retained_history&quot;}</code></p>\n<ul>\n<li>series_methodology · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · effective 2026-09-20 13:53:45 · correction <code>9d32f34cb388a3d918d47abdc27380a1fb58e5bff024ebb8f47df205b55aa3b3</code> · hash <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>capital_structure_review · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · effective 2026-09-18 04:22:05 · correction <code>79c16f42a11908329979fcd66c822bed28ba4864c05d87b3733c32c595914c9f</code> · hash <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>capital_structure_review · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · effective 2026-09-18 04:22:05 · correction <code>aef69f1c330a840c070755febc51e1f801a5a4726b2ff87e4ee1bd32df72a7b2</code> · hash <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;source_correction_ids&quot;:[&quot;67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9&quot;],&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>opportunity · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · effective 2026-09-18 04:22:05 · correction <code>cabbd069a299a513e7d5c314ca6694ec5b50b517559681f7d7f8ad948084e951</code> · hash <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · effective 2026-09-15 06:40:47 · correction <code>89c04f28eb31afee402fab1a134fa80f73c95fa1b6803f8019f4119556ce32c9</code> · hash <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · effective 2026-09-15 06:40:47 · correction <code>43d6568329588314be2cef5fcff584e2a66701231212fe18531e64fcf5fc74bf</code> · hash <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · effective 2026-09-15 04:06:58 · correction <code>68a6284b20ea3a8936c9ee0e636034b7c095863952f5b1fa8d7d7d22d877eb5e</code> · hash <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n<li>report_content_hash · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · effective 2026-09-15 04:06:58 · correction <code>29c71162acf21a7602b4c8664490573bbe0394d6b306d7924493ef2847ff8883</code> · hash <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>legacy_observation_snapshot · <code>0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code> · effective 2026-09-15 06:40:47 · correction <code>fe9ba7a6c80a2eba2bb7f0981603f3d3410f870b4eb7e6694f2c98bf43a93e8f</code> · hash <code>21d7794f29c21885adf3ec15e1c0b5910654a2a6cbcdb3db5d5275832c1295d5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:0308680d601e045bdad6e580a57aeafdda38768ab4aeeb0497c3a615dc0a27c2</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code> · effective 2026-09-15 06:40:47 · correction <code>ea4f18d288a2e97d8581f140c0c9e59d92978f5491866dd9bf1bd9cd8b020e46</code> · hash <code>3d363302e97494a17188a16e46647315ba16fdc3fad81b51f5d0a6a41a2678a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad60e3a80d03701251769ff8f76a80881ca2c2e4d257603f4cd91c7ac76c89eb</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code> · effective 2026-09-15 06:40:47 · correction <code>e7c13147e056a28c7a87db4bdbf9c7de3fa441dfdee2e03d6a18f656af0c800d</code> · hash <code>5628305fe842bdccf044476d094202a2fd878050246aa4550a3e193580a28fbb</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:39ff12cb798a987a2392e74f141eb4d810068983ec27a7bf597db4d138c1dd1a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code> · effective 2026-09-15 06:40:47 · correction <code>daba89a37a1b36bc3bc62d187e1c1f73ea51fb04a13e427276ce1b3eef03527d</code> · hash <code>48076a2632389093a8d57b2a8ae0822485ffa1b9ef03267a5f1949a3b5eb9b8e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:989c8997fb5bb766a4e0c2a1bad7e5c3a0f55451c1586cffc60bac2c71a40293</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code> · effective 2026-09-15 06:40:47 · correction <code>d97e2fc5203ce911064b597239ab6335c3d298d28546b6c8e3e78c1e82a9780a</code> · hash <code>217e499adfbac592a13aff0ee33bc54f8119d489fac7adb34dc2aa22e7bc5db5</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:56ac1862b2b04394802c7a653b1377c8b04b8afccf4d489bcbce85d2fc23556d</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code> · effective 2026-09-15 06:40:47 · correction <code>cb48dd8cd07b5ca7edf755c967e561b39389bfbbfdc5b20bc996ad0c49bf2e75</code> · hash <code>a4e4ee89c55ce063ca3360b615bf209262306fa545ee53c3fc514fb3704933ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6f02e45fca141f07a12e38174066923b06abfb8506468da13abdf2dacf27d54</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code> · effective 2026-09-15 06:40:47 · correction <code>b35bf4d73d80bac1a24b74636a3a072749f86f8a4d165d306ea38f6fec8f1d49</code> · hash <code>0b5bdd05859eac9dfcadece862a4d902cbe6250c88b40e2cc0269b00960606f8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c9496560c88f94584a2c13cd7d58f05827e87c8f78a0ff14a8cd7bf2b27bce51</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code> · effective 2026-09-15 06:40:47 · correction <code>b176f07d3efdb5848fa4d8b20cd0a1e50c65858c0a4c5029d872246d7e969aef</code> · hash <code>267b0b4a197a9a56b20a0a62578b53ab1c378bb29d93a00d49d39ea2cc434dd4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:9ec4ba77a175a0f04435160e5644ff45e345eb313dc9401391be48dffe71340f</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code> · effective 2026-09-15 06:40:47 · correction <code>949156111a7499faf93179a3316dec1f1f296a9beb9b9968994c0349bfe8efa5</code> · hash <code>d92435a2ac5f02f58c30830e2c0a95073e5ecacb0b4e859c47a0c0ecb103ca74</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:3a04c586df94826aa0bdd54272c6f3a172dca31ecbad36bcc6198985b38a8cba</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code> · effective 2026-09-15 06:40:47 · correction <code>8b32388fde7fffc7a02618bccfdf78feba257a396451fb663a63fa28a41c35a2</code> · hash <code>90eca7390c7eb1b18f94f084194b680891b1fbf6f5df62c51ddb6d3a8a2398e2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:f6f63512806247e3660a78117de0d80d2ca80e5bdedf08edca58524ab0dee964</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code> · effective 2026-09-15 06:40:47 · correction <code>8286daeac31da3232a388801808d2d53528f500b7b3d50ea100c05cf084ceabf</code> · hash <code>ecd1b5d1386e1d721054d5058fde44d4d9108b889968fe4af1fe675aa93a901d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:e95397472b8a55e598d8972d91b27a575f0aab7700cc8f8ae7c48ba4b1a76c02</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code> · effective 2026-09-15 06:40:47 · correction <code>685c156252850b8a642a09104ce78a2570219994428c961d8a8a5d333f6eba6e</code> · hash <code>f06710df4c6eed42b1cda58f73ddf07cb7f86240235359d17f8e7e8618e96b1a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:a3cac6d580de31d5aa23061e2e76231f6fdd96f89940a25f5df8394d54177512</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code> · effective 2026-09-15 06:40:47 · correction <code>67e01203ed40ebd4488523f29427a76b5732235d2a06ca97b9f21bfecb7c2b0f</code> · hash <code>91567b75438678b61552d9efa3974c7460739301eb8cd0485e739e061a12b842</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:4d556af894465a8ad5172cb667fd971b016a07e0211ad8647e711a319b19bd48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code> · effective 2026-09-15 06:40:47 · correction <code>6738c7d8ca72b3ae3171babf86cadd5bf52abbe493135bff0e6e63359cf01e70</code> · hash <code>c9245c6c6ca678f465dea30db188ea4527b708e8a7a10de608e9140a40b2f558</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:492f156318c78b455b3e32413f1f7b559cc2f4f2bef715df7fffdfbf55693cd0</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code> · effective 2026-09-15 06:40:47 · correction <code>6544f19d7a42dceed6c1566b3444dab86c2da77f87691c29419f9177cbb5f575</code> · hash <code>8fb7d62488b05323dfb9a5dd674ea03464b78ab1aefd424dfd3bf1b6cfd69663</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:bd1024794950818f3688df1e840a2c14aeb65010021a63b4d0445b8f75a80ed3</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code> · effective 2026-09-15 06:40:47 · correction <code>62d423014a76c07767b2ce276929d4c8477f6175025a85a4848cb817dbda5222</code> · hash <code>771fcf8b6b534782e479a082c644c1a10703c2be8b17213d8ef24936ed1cced6</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7e30044e1cd12733e29ae7a0a489b4f3e1ca002c552e60107e9ebe68753be425</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code> · effective 2026-09-15 06:40:47 · correction <code>5c821c5136bc70dc34d851ab456f1febf96581b3c8d1576a1beaa6adf8971b9c</code> · hash <code>b1c49d7d861b685474b6cb11d8282548ef42feaac653c9734493c8ec437a4c35</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:ad41264492eb84c960212101df7e1ce459fe11de0f9dc70205d0b291fe3b8aaf</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code> · effective 2026-09-15 06:40:47 · correction <code>4916a1c65314e65ebb47e9462c93a821fdda8ecf93973023c2edeebdd266d1f5</code> · hash <code>3e045b7ff647966ea5b879e9538b9ce270e8ecc1852bee5e501b32718f256e33</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2a6694884df70c7235c7a7c1997db768e71ecfad637611b41707cf64955a4c39</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code> · effective 2026-09-15 06:40:47 · correction <code>2f82f039b0a10ab6d1c7cc72e3b39ec36df13ff810fb6c4169ee693d80f42e10</code> · hash <code>abdb3de4e62103661d7e546510096a1c22deb3d9be5ff120552fdb157e51a66d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:d6d2d35135b0d50a920de017e7e87646964dcb0660d5c5f0615758aea0407f48</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code> · effective 2026-09-15 06:40:47 · correction <code>2235a4ecf588dd92ae57161df100e40e461edf05de34ab63f6af42b178fb73d9</code> · hash <code>3c829ab2885b805144cab218d95e1edef42d0a6dcb971462fc8100eccad88cef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:c94646211f326c66a8363fb5964bb6caee4c51e0745095f7177a2589a7c3d29c</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code> · effective 2026-09-15 06:40:47 · correction <code>206b26a3c1e6bb6711e0b83d294c5fe22681b09010254ce0b0f730bfbef32a61</code> · hash <code>a7fb7344ee75988e2e7349d9083f1ae807ce4a47ea9746ba9a3e900cf638ff60</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:7b7b755c3622a0de1a64fe571a6f5bf77a6bf4d6d3fa151a0275e7f867c797ed</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code> · effective 2026-09-15 06:40:47 · correction <code>191005416e237d3e8a65de074926359833934dcc1104f6e10aeb7cf219af0a14</code> · hash <code>d04014c475c4f03bf204312baf0bbe3421af4b59fb42a3164c894186ae8f696c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:2ab06a09be3665342d91322648dcbae2928dd61c67b8e0e7a1fcf9529bbead5a</code></li>\n</ul>\n<li>legacy_observation_snapshot · <code>dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code> · effective 2026-09-15 06:40:47 · correction <code>02ba31301166675acee277c644fcdfa1f523b27fe21022074b9184c9a6635a12</code> · hash <code>333c4646d4c00e5ca9642ae56dcadbe75ec0090fd4f3403560edf3ba00e618a4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n<li>Evidence: <code>aib_gold.directional_observation_snapshots:sha256:dc9a4c06dd2a1c319726b178971684989cdb62a7ffa0426d2de725ace2db84df</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Replacement record: <code>{&quot;nav_per_share&quot;:24.56,&quot;premium_pct&quot;:41.449511400651474,&quot;price&quot;:34.74}</code></p>\n<ul>\n<li>series_observation · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · effective 2026-09-15 04:06:58 · correction <code>d2be6cbb0ff8a20640c7e93f69feeafdd6be088cf114f88b3d8300fce637401a</code> · hash <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/ingestion/cef_nav.py</code></li>\n<li>Evidence: <code>src/ingestion/sessions.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>withdrawn</strong>: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Replacement record: <code>{&quot;direction&quot;:null,&quot;est_notional_usd&quot;:null,&quot;evidence_class&quot;:&quot;unavailable&quot;}</code></p>\n<ul>\n<li>forced_flow_event · <code>e587d540-b100-53fc-a672-8866755504c6</code> · effective 2026-09-15 04:06:58 · correction <code>67b405aeffbf664d31243a23f1ee2e3da70cf25e82e69b620911ea2416202ea9</code> · hash <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/domains/forced_flows.py</code></li>\n</ul>\n</ul>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>AI-complex correlation regime: ▼ Bearish — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-23T04:11:41.648526+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction; Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>AI-complex correlation regime: ▼ Bearish — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>High-yield vs investment-grade credit: ▼ Bearish — public-credit risk appetite relevant to AI-buildout financing (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction; Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Source correction; Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>PJM electricity demand: ⊘ No read — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — near-term PJM electricity demand (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-10-23T18:17:24.310242+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 51 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 33 usable / 18 no read — 13 bullish, 11 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-22 18:48:51+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=3.5846027479091997; b200_h100_ratio_change_14d_pct=0.4302635851531174; b200_offered_usd_hr=10.001041666666667; band_measured_pct=43.02635851531174; band_pct=5.0; h100_spot_usd_hr=2.79</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 3.5846027479091997, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.4302635851531174, &#x27;b200_offered_usd_hr&#x27;: 10.001041666666667, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 43.02635851531174, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 43.02635851531174, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.79}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-22 18:48:51+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-22 18:48:51+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.15909086804087766; h100_depth_smoothed_3d=22.200000762939453; h100_dispersion_smoothed_3d=1.6576846837997437; h100_price_change_14d_pct=-0.11499126664853342</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.15909086804087766, &#x27;h100_depth_smoothed_3d&#x27;: 22.200000762939453, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.6576846837997437, &#x27;h100_price_change_14d_pct&#x27;: -0.11499126664853342}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-22 18:48:51+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=7.722011291835675; band_pct=8.0; h100_spot_usd_hr=2.79; spot_trend_30d_pct=0.07722011291835675</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.722011291835675, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 7.722011291835675, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.79, &#x27;spot_trend_30d_pct&#x27;: 0.07722011291835675}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:13:52+00:00</li>\n<li>interpretation: Up 7.2% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 7.17%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.1701014958608145, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 7.1701014958608145, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3392621381, &#x27;total_tokens&#x27;: 253686286501797}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:13:54+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.29pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.28880047399177045, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.96582092482993, &#x27;top10_share_change_14d_pp&#x27;: 0.28880047399177045}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:13:54+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 1 cuts, 11 raises.; Fixed-basket price at prior-day token weights: $0.720/Mtok.; Seven-day like-for-like change: +8.18%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.176206643141404, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 351, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7195874602505576, &#x27;like_for_like_change_7d_pct&#x27;: 8.176206643141404, &#x27;price_cut_model_count&#x27;: 1, &#x27;price_raise_model_count&#x27;: 11}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:13:54+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: +4.85%.; Token-weighted effective price: $0.719/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.852643434407811, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 4.852643434407811, &#x27;effective_price_usd_mtok&#x27;: 0.7190612211944019, &#x27;matched_model_count&#x27;: 350, &#x27;total_standard_tokens&#x27;: 150490197612219, &#x27;unmatched_token_share&#x27;: 3.558486525131779}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-22 18:48:43+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +152.7%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.71966527196653, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 152.71966527196653, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:13:54+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: +0.37pp.; Open-weights share of routed standard tokens: 71.6%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-1.16pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.37263430488528115, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -1.1552453619689516, &#x27;chinese_lab_token_share&#x27;: 68.18288338659124, &#x27;matched_model_count&#x27;: 350, &#x27;openweights_share_change_14d_pp&#x27;: 0.37263430488528115, &#x27;openweights_token_share&#x27;: 71.568875708803}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:13:55+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $49.10/MWh vs prior 14-day $53.25/MWh (-7.8%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.8050876816114165, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 49.096735833333334, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.2531943452381, &#x27;caiso_da_trend_pct&#x27;: -7.8050876816114165}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:13:55+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.48 MMBtu/MWh vs prior 14-day 17.37 (-10.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.878506516293676, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 15.480960810490386, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.370625429791186, &#x27;caiso_heat_rate_trend_pct&#x27;: -10.878506516293676, &#x27;gas_print_max_lag_days&#x27;: 2}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:13:55+00:00</li>\n<li>interpretation: PJM total load growth exceeds the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +5.06% vs control mean +1.66% (gap +3.40pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 3.39909902582775, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 10.669398395021625, &#x27;dc_load_premium_pp&#x27;: 3.39909902582775, &#x27;erco_load_yoy_7d_pct&#x27;: -7.344053990711397, &#x27;pjm_load_yoy_7d_pct&#x27;: 5.061771227982864}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:13:55+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +14.41% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 14.408723156343662, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 60459.0, &#x27;nova_load_yoy_7d_pct&#x27;: 14.408723156343662, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Down 21.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -21.38%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -21.3800888512366, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -21.3800888512366, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;2442adb8a6a01006083dfbcbc584851180ee5b236e3e2c76cf4e7ac8764f287d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;snapshot_id&#x27;: &#x27;8752fec405aa3c07ad269311ff133b2bbadbd2951dedc45bfc1dde9b1dce26a5&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;b8f051012c37b19eccaafb5ad1ece3fad7e0e34f9e3f38234a407ba1a8244931&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d5ab5b3efa5aae1714c0bed9e19f0bff2e3fef34d833a11585ab1b14dfd89d65&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;581f23818e841bfd264f0cc21f08c012cc7f535b7646c3b6c383c7b0a600612d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;LEU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;00dc6f807934f76b3beb06e9b27fbac2199b0ff2c20fded58b630b23931aba51&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;af4f0b8dcf45689a45a79451e59df52f6932ffdaf05b1a7b5a4bb0a71a310045&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;078d8dcc304b811847d8540b694d8589e975e3c616453b661cac12458b6cc679&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, &#x27;OKLO.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;2bb96961b2583020f6906b0977a22d271649a0dc0f3cdaf0a5779079c94cedd9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Down 6.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.89%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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&#x27;53649379be7bbfb53ab75d8e51b7dc9962d60e109e0c6afadd79f807c54c8a4a&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;91b7352dc1b3add0c955bd7e0b7c8568b14a731e87f024667e19a9ae215b79f4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2721ce64d0c32b7cfb0e3c2b0cddc41dd0d6a5f4e18ef041adc077a1322ca349&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;50ffab7cd1bdf73f3f157e010681d832a74dce13e0e59809d2966a98aa0d8af6&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;b8f051012c37b19eccaafb5ad1ece3fad7e0e34f9e3f38234a407ba1a8244931&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d5ab5b3efa5aae1714c0bed9e19f0bff2e3fef34d833a11585ab1b14dfd89d65&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;581f23818e841bfd264f0cc21f08c012cc7f535b7646c3b6c383c7b0a600612d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;99c4cc8d48047cc64520d2ae028476931e67e1cfa1ffc412deddb3d98615e9ca&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dbfc4c32dfe3cf198f836e2cee6245f491f7e9c0792bb6224d4e10cbdff26821&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f6c15298d0f185cdf9753e1c2fc782aa7f3823c00e9291324b6fa89c6bf96c07&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-22&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-23 18:16:05.448000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f575df89518b76a9c66044d0cb368a5c1136290bc4e6a38c9ade4982c51ca9f6:273310498111a158b9be02b0082db0086aa7271e76956bc4c58b64229693a55f&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5ac40247d5bb0ef49cac97af245ca1f41effef59e5b7393a97ae8b809fd2d271:ed737f1d22c832cd2a4c1c1a4fe368eaed916669a40e7ba1b86f771904b7beb1&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Down 4.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.73%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.731829123816079, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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18:15:56+00:00</li>\n<li>interpretation: Down 35.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -34.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -34.94642054905612, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -34.94642054905612, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;a10fb1915c4ad07fb09ca255e83ba6583d73a7689b3fd928267384e2cf92e268&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;96c22448a4b0f7a64dc5ccd4a0ecfadbfaef1fd1eec4313a7c7e1d792aea4a01&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2bd5e988261a099206f11221e3097dfdd6aab21d59b389dadc08f44208814592&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;9c92939d43ff25263dd7060a5b2aab3e95a3f1b91b2ad0e1e18a2e60ad2f4ec6&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;6dc16bde9a529f00fd9c03c6d64e578a1fb0d7e96c55dcec0783021ef437694e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-23&#x27;, &#x27;row_count&#x27;: 395, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;07b75b1bc656aa8de92c4e73e75405ee3577d5e816b567d1d264bab7146ff14e&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;b8f051012c37b19eccaafb5ad1ece3fad7e0e34f9e3f38234a407ba1a8244931&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d5ab5b3efa5aae1714c0bed9e19f0bff2e3fef34d833a11585ab1b14dfd89d65&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;581f23818e841bfd264f0cc21f08c012cc7f535b7646c3b6c383c7b0a600612d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;40c111545903d0b6e4c268fb4e82ca60075a2319f16317b2176a994d5edfc1c0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;bbf5a3c6141386d31318d24721b3ee79ea596f58d149b8b6604f22056090e4e7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1078352d92ae316172d3b0656912b8d435d0002f89a1ea675f40759f3debd0f4&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;0a6aff58676f314f8b93dd0cf030dd913883a888935df029082e8ff653631d84&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;bee0d9cd12d06bf40be88c1d91b965845b1a0a4d90eb61d8375d56471bd89597&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;row_count&#x27;: 503, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bd650eec52760e257c40b2db6206f8715b5dc1194629e76f390bbf993d1f44ff&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-22&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-23 18:16:05.448000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fff07fe54bfe833a6556cda50eeb31b62210a3727a782c705604e1f794f166ae:d0af363e943567abacafead3989c57c6ff0b7bebbd3f3411499e23bcb0983bfa&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:27ca059ed4041d91f35a76aba1d0c7f113a004944524eb63518fd81d92f8bc2c:fe396de2147d12fe29309fbeef32a32cccda30256f92d1b8ed1dbab3d9c9316d&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:13124f87a6a53e3a76be7ae19d8a2b3d25547fd1bd7599ff07d9941b1f63104e:6d49da11adfd1c018677a48d8a9a2fd2229e7557d766da0f9c71b51090e6632d&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0ec2f4a841206e9392133f267e485ee4a84aa1eca120b02e124f9d52b53d62d4:a85c5977cb37b9774d05add91adb228118b4bddbdc03e4c3471e57ac32f35116&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-22&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b4ab1e5dad981c51ea44afb7a68058d33bc07a79bd4ac0514f99f851fa0c409d:2b65d60cbe1d83b19b75d3528e49904e0f9f2e006a48def0afbcf7915fb2c0ce&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:8fa90a81c0dd9e19a64d86ab47a52ef55a6a1fa3ccd5af26e2369f7018af3ad3&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:989e968423dc9039a50359cc0c9eab6779c28bb4f4cf9cef6bbd369f614bc87d:f819961bb68c4011de4bf4cf792933daaf482f63535d29fd3720ebc6b140042d&#x27;, &#x27;aib_bronze.equity_ohlcv:b10c446350d22e4c98a0c9ff03b484f2c4651fab3abcede851488aee9d17c2db:9dc435d20dc05f6778523539912897ddccec9b657603cbecce62d6763ea5b1bf&#x27;, &#x27;aib_bronze.equity_ohlcv:b4ab1e5dad981c51ea44afb7a68058d33bc07a79bd4ac0514f99f851fa0c409d:2b65d60cbe1d83b19b75d3528e49904e0f9f2e006a48def0afbcf7915fb2c0ce&#x27;, &#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;, &#x27;aib_bronze.equity_ohlcv:fff07fe54bfe833a6556cda50eeb31b62210a3727a782c705604e1f794f166ae:d0af363e943567abacafead3989c57c6ff0b7bebbd3f3411499e23bcb0983bfa&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 78.74037811515181}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Down 6.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.005421916629661, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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14.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.31%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.311484824679743, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.311484824679743, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 120.10476627621513}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Down 1.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.97%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2c8d0c1b065661b3c6157e81748bdbd481774130d0ff54665411544808ae717a:2edddff22c82c71b5de52197a4c666d0e5a5744d276c09632d7539e237016241&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:9444289c2cab580b24bb213d641e8b656518bfbcee4968f31cc3b5b0a8b23189:970967dbb28b52e65fe108e8adfabdeb925d73a65046ea9561aa9617142591fc&#x27;, &#x27;aib_bronze.equity_ohlcv:ac45cca8128749c70cb94851e062a737e6bb841378398dcc48873f03c984ca80:8c0f750c928835f5ce0f91a99a9752e499171460da29a68826349995ac4656b5&#x27;, &#x27;aib_bronze.equity_ohlcv:aeca704647c9f631d43458a53f9e2c3563d55e0fbad3b5f0ad65cd9110499fff:9d61f2cb2b3ffe3d2086aca1e2c68bcf286755b00f77184a33a4cbb30cd8180a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.81187603586065}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ▼ Bearish</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: The AI complex is trading as one narrative — median pairwise correlation sits in the top quintile of its two-year history.</li>\n<li>evidence: 63-day median pairwise correlation: 0.306.; Two-year own-history percentile: 80.8.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 80.78512396694215, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.30622127454684267, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Down 1.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-23 04:10:43.505000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:92b939c1adfc46ea3f2a6538f58f8f0e0c8e0f8a1785d9db364bb4cae19e2e63:f0e4b9308fb4586becf14637194ea97c528487f6f965f8f48bb7bc9a8bae517a&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3642932bc66fa1da2c1a6d17e86a7d2eb4de60a1dfdf78784359c00e3fb8e61a:1156beb7eb5c8e99f9e3d2316d1af15af7937f8c92d7c5ab16658a69a5e22aba&#x27;, 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&#x27;aib_bronze.equity_ohlcv:97926d8205f8da8ae4d4b9a3bb69cdfbedccd4a71bf0ac6e86bc6156efc7275d:8adbb8cada3db6aa2528bbf122385053fd2c8a6d239cd633a8907f64a8a5cac5&#x27;, &#x27;aib_bronze.equity_ohlcv:a7f097e45e2e204479263fb7e13fd986c724276b8f3fac1d9cb22af5024260d2:5940ebe96d58d288ac36a419474ce69a72e4d5cab9539b7d09229935598ae2d1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.54434429190343}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Up 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.90%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.9013385133306544, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 3.9013385133306544, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;b8f051012c37b19eccaafb5ad1ece3fad7e0e34f9e3f38234a407ba1a8244931&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: 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&#x27;23e8d6241f575061e20aa5dbeb06ea7ae55c0604c24924dd912b9d555f29fdb8&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-22&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-23 18:16:05.448000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:59872e168610d71972e08544f86e0bb326a832bb1d9194863964c28e6d968803:40df478647a8bfa337b55c9d97358da935752acac6c39e2b5d1956ae193bdbb0&#x27;, &#x27;aib_bronze.equity_ohlcv:771871620045a5bfe91584bc498e80bd676e48f1cdbd7ccb54ead2b307eea3a9:869b5f1eca2978bd6e71ad5aad7b9354a3c81143e44a1940080f0bf0724603b5&#x27;, &#x27;aib_bronze.equity_ohlcv:83e31389b956b17d55f57686d37e5f5b2405988ee1aa1669a21a4f030835c515:46919c4067d542be78c6d5f6ef4d7ca0c9f504ffbc8866c6f79548fc89a5e3a0&#x27;, &#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 100.97183074600147}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Down 4.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.53%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.526985325143995, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -4.526985325143995, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;b8f051012c37b19eccaafb5ad1ece3fad7e0e34f9e3f38234a407ba1a8244931&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d5ab5b3efa5aae1714c0bed9e19f0bff2e3fef34d833a11585ab1b14dfd89d65&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;581f23818e841bfd264f0cc21f08c012cc7f535b7646c3b6c383c7b0a600612d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;c99688ee78cc348ba84c78a2dea78b503cdb44602b2cddd6e92d867ea3f8b01c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;322a73846e4bb28ec5eb818513c1d5d3f166bfce2659c236b25ac02c7def33d0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;55f27efb32b2a6fcf6453912e2dc762e9c1b74ffb78661b53973c2db44744072&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-22&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-23 18:16:05.448000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34a5de33e4c187744b8f294915515f31f49cf60d4d35cd41d236efc1d9856089:3d76e256cb9de12794392ab35e94b4d15fa5c907b942b012dc5230ae91d5704f&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:771871620045a5bfe91584bc498e80bd676e48f1cdbd7ccb54ead2b307eea3a9:869b5f1eca2978bd6e71ad5aad7b9354a3c81143e44a1940080f0bf0724603b5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ccf9b10f0ca9518956be385899128f9c36840ec27e4924e06004dddf9f24fc8f:7f5ecf42fa611dca42899b2f8373e632589e5a97c8ff5c44edd0119f5da4519b&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:34a5de33e4c187744b8f294915515f31f49cf60d4d35cd41d236efc1d9856089:3d76e256cb9de12794392ab35e94b4d15fa5c907b942b012dc5230ae91d5704f&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:771871620045a5bfe91584bc498e80bd676e48f1cdbd7ccb54ead2b307eea3a9:869b5f1eca2978bd6e71ad5aad7b9354a3c81143e44a1940080f0bf0724603b5&#x27;, &#x27;aib_bronze.equity_ohlcv:ccf9b10f0ca9518956be385899128f9c36840ec27e4924e06004dddf9f24fc8f:7f5ecf42fa611dca42899b2f8373e632589e5a97c8ff5c44edd0119f5da4519b&#x27;, &#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.42466046117138}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Up 7.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 7.17%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.170459890520342, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 7.170459890520342, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;b8f051012c37b19eccaafb5ad1ece3fad7e0e34f9e3f38234a407ba1a8244931&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d5ab5b3efa5aae1714c0bed9e19f0bff2e3fef34d833a11585ab1b14dfd89d65&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-23 18:16:05.448000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:58c3f45fbca7ba4eb1c99dd0b715de0c189c927ad8053dd6e80ead5064fe5bf7:2525736b4ed195e2aaba439ba3e59317cbfe26d7477163c5ba5c8d3cae60f554&#x27;, &#x27;aib_bronze.equity_ohlcv:771871620045a5bfe91584bc498e80bd676e48f1cdbd7ccb54ead2b307eea3a9:869b5f1eca2978bd6e71ad5aad7b9354a3c81143e44a1940080f0bf0724603b5&#x27;, &#x27;aib_bronze.equity_ohlcv:78c86590ca8a319388ae10be1f69fa49d8cbb7f31f8ae061905a3cf85fd2e9ab:3503a4920df7e4e72cbf9dbbbab67f77d2dd01f65b7a119473d6a9f20cd86fd6&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:f217e7a45fa396acd139b3a5efb1bced507125ca59128ec65b4e5941f328cd86:2ae8380df6403d13e2c8f98e10a5b6163585fd1acda81abd4f4be4116576862b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 93.48144043366075}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Front VIX at 0.95× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.946.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 190, &#x27;epoch_values_hash&#x27;: &#x27;49571d0782a2037252ef90ed2f041a974514f3d44eb901d757974c294167a459&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6bbff509869aaeed34ec8015bf1b28fd5ca2c24d44b54758542199f25d3a93eb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 567, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e19432c1eac37bb58a22f6f001aa2c0ebeb0821c97aa8b204973ea96e4834648&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;046d2c9e1613c79093e2350c9492ca54e4aceecc8b329cdeb8f49bec1a6483d5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;024ccf194de6202d87b2452c7748f072bd6481414f73566aecf4bd30d7002caf&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 559, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;29d5b5911b1cd8283fc6554344929b8b950e32d5c1d698a0214bb518822f1dd8&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-22&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-23 04:10:43.505000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1354120d4a6e6bb0ffe53c91891676de4d7640f857e0ec82e6975e52f998e64a:3a899923f063f19cad34fcd914a52fb1d5a52c35dbb066818ae22b0ed57d03f4&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:875ff9ab17c1d82cea2f70125c81658ee91211730a9e804090df3eacab5668a1:d398477120b136438e25a121faf062cf2d84af9b608aea2603061afbb2d8caca&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e6837743f57f02b24ac7c5d4272cb0d4b98907a5f6eaa382c0c43d8a7b119737:783c6e445aade7f6b55fdf12d68955a94bfa80d781770b45e5b15699e095f9ae&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5cf57dec20a1ea69b750496a84157d37ee77989aa9f42ddb1719a358dca0900:1c9d49022cc53049782798c9ae366d8ed8ceeff4d37a5b77962924df6b5a0950&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1354120d4a6e6bb0ffe53c91891676de4d7640f857e0ec82e6975e52f998e64a:3a899923f063f19cad34fcd914a52fb1d5a52c35dbb066818ae22b0ed57d03f4&#x27;, &#x27;aib_bronze.equity_ohlcv:875ff9ab17c1d82cea2f70125c81658ee91211730a9e804090df3eacab5668a1:d398477120b136438e25a121faf062cf2d84af9b608aea2603061afbb2d8caca&#x27;, &#x27;aib_bronze.equity_ohlcv:e6837743f57f02b24ac7c5d4272cb0d4b98907a5f6eaa382c0c43d8a7b119737:783c6e445aade7f6b55fdf12d68955a94bfa80d781770b45e5b15699e095f9ae&#x27;, &#x27;aib_bronze.equity_ohlcv:f5cf57dec20a1ea69b750496a84157d37ee77989aa9f42ddb1719a358dca0900:1c9d49022cc53049782798c9ae366d8ed8ceeff4d37a5b77962924df6b5a0950&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.9458250497017893}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-23 18:15:56+00:00</li>\n<li>interpretation: Down 2.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.687272524368789, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -2.687272524368789, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;0b0b622694196a9418ee225f3bb29e2aef8cdf98dfab196633693b2e0ab08c09&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5d98931a316b6da88577f160a75a3a6cd5cb1717ecbdd4ae19559cbc505e698b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;630105972db093fe129d23481ae8a96ac2c99a47315660b078d622ab7d82d416&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;8c094fe5bb43b7b4e945c5b3a5e59666deef0ef4a4ed24d6cba34a86de003c4d&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dad111c1496f860c69610c4759baaec64cfffd6cbba9b5b0dddc46b40032344f&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;24d424ebb8a8c13c3ffe7dabd3d2675819941673f56d2681873e66ab642f46fd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5ecc1d47bd9b5f38bbb417b7c2cfde3d979aea2fbb1de037e166fa62502dba69&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-23&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;db061715ab4a5440e8d3c1860b6c5b95b38f72bb9eef390bfd39a26c8a21f4fd&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-22&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-23 04:10:43.505000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0b8fe5d63d5ba69a9a5ec43cf23cf3505d30ed2539aba421f9f71408f13d7888:13fc4dd1701bcefa365e9a42069a2af3074a71776eec1a57e7875662dd87be5f&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-22&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:8084cd5b573b7bd0aed4970a308036c26ac6176d6aa6136ea29939c0cf38b041:8d1527cdd0aeac344e30f5d79456c898d59b7088dae10bb431a60451e1178a31&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:15d9ff845ca9945706e27d3de94e1617a5da268ea18ef9edadad222df5064e51:5cca302e1ea3c5659897662bf8ce91b48d52165e46c5a73a4685e3438d7e5d32&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a7f097e45e2e204479263fb7e13fd986c724276b8f3fac1d9cb22af5024260d2:5940ebe96d58d288ac36a419474ce69a72e4d5cab9539b7d09229935598ae2d1&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-22&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d8ebd07af4b1f4fe6e771bfed129eb4be433bc7b73451a1015f03305e70f25e:030480e8cc8e2d5b7a3266f977c530ae0f2a1454a976eebaefa0d67c43dc08fc&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:035c3958355acfec61484f7e2b76612b9feee5d0840a87949fbae060fb82c4f4:f190577069d937e7681c4b5b5543afbd3af6eb3ab0b09144d0f7f119cec6ab46&#x27;, &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:0b8fe5d63d5ba69a9a5ec43cf23cf3505d30ed2539aba421f9f71408f13d7888:13fc4dd1701bcefa365e9a42069a2af3074a71776eec1a57e7875662dd87be5f&#x27;, &#x27;aib_bronze.equity_ohlcv:15d9ff845ca9945706e27d3de94e1617a5da268ea18ef9edadad222df5064e51:5cca302e1ea3c5659897662bf8ce91b48d52165e46c5a73a4685e3438d7e5d32&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:3642932bc66fa1da2c1a6d17e86a7d2eb4de60a1dfdf78784359c00e3fb8e61a:1156beb7eb5c8e99f9e3d2316d1af15af7937f8c92d7c5ab16658a69a5e22aba&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:738977a952528b3fdcee666919dd8682b5e6f994e95465ff52af183fb6bcd84a:eb874455ec9afda61b3427593936b256e7bd88e85be985199d2380f9ebdc4f72&#x27;, &#x27;aib_bronze.equity_ohlcv:8084cd5b573b7bd0aed4970a308036c26ac6176d6aa6136ea29939c0cf38b041:8d1527cdd0aeac344e30f5d79456c898d59b7088dae10bb431a60451e1178a31&#x27;, &#x27;aib_bronze.equity_ohlcv:8d8ebd07af4b1f4fe6e771bfed129eb4be433bc7b73451a1015f03305e70f25e:030480e8cc8e2d5b7a3266f977c530ae0f2a1454a976eebaefa0d67c43dc08fc&#x27;, &#x27;aib_bronze.equity_ohlcv:a7f097e45e2e204479263fb7e13fd986c724276b8f3fac1d9cb22af5024260d2:5940ebe96d58d288ac36a419474ce69a72e4d5cab9539b7d09229935598ae2d1&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.32372959391338}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-22 / 2026-10-22 18:48:51+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,012B (conditional on an IPO), -5.89% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $671.; Probability-weighted bucket midpoint: $1,012B.; Seven-day implied-cap change: -5.89%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.885714285714294, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.04, &#x27;full_set_prob_sum&#x27;: 1.0035, &#x27;implied_cap_change_7d_pct&#x27;: -5.885714285714294, &#x27;implied_cap_usd_b&#x27;: 1012.5, &#x27;ipo_by_2026_prob&#x27;: 0.045, &#x27;no_ipo_by_2026_prob&#x27;: 0.9635, &#x27;volume_24h_total&#x27;: 670.84}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-22</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-22</td><td class=\"num\">116,035</td><td class=\"num\">24</td><td>—</td><td class=\"num\">21.05</td></tr>\n<tr><td>CISO</td><td>2026-10-22</td><td class=\"num\">618,938</td><td class=\"num\">24</td><td>—</td><td class=\"num\">3.375</td></tr>\n<tr><td>ERCO</td><td>2026-10-22</td><td class=\"num\">1,282,442</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.7933</td></tr>\n<tr><td>PJM</td><td>2026-10-22</td><td class=\"num\">2,093,070</td><td class=\"num\">24</td><td>—</td><td class=\"num\">2.829</td></tr>\n<tr><td>SOCO</td><td>2026-10-22</td><td class=\"num\">538,097</td><td class=\"num\">24</td><td>—</td><td class=\"num\">4.075</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">52.04</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">45.6</td><td class=\"num\">0</td><td class=\"num\">-6.44</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">47.32</td><td class=\"num\">0</td><td class=\"num\">-4.715</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">63.59</td><td class=\"num\">0</td><td class=\"num\">3.93</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">59.66</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.79</li>\n<li>as of: 2026-10-22</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.07722</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>418 benchmarked model identities; 246 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td class=\"num\">19,609,840,542,858</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 7,282,043,847,908</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 925,388,864,607</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,226,116,691,900</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 1,299,736,786,962</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 6,242,229,635,298</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,400,973,777,182</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 351 eligible configurations.</p>\n<p>Usage window: 2026-09-23 → 2026-10-22. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-23 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;51eef0efab9df2199e505b00e285848f43ac3da3b288bcf78b3f849d569feb41&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;d7a1be2b5a513a8c67811a2e41ed1471778b71cff0e613eb57cd0fff87ccc2ab&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;8bdffba9a63dadf41c580df81d500ec25922ee465121d1756e5df523c1f1e386&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-23 18:13:55&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-23 18:14:10&quot;, &quot;record_count&quot;: 1885, &quot;records_hash&quot;: &quot;b5202efcfff145cac87d3254acfccaf80e71edc7c59aa484ab5d4b857f0bdd13&quot;, &quot;snapshot_id&quot;: &quot;369a33f7ae29c9291936bde2e4bb31d745dd8246971b41319c16fc7c62787ced&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;d2f83dc9e378f9791a9e399a58f8beb0ff03981f0e81d074c5d694644ed9d1e2&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;f8c6f23a49263cab0752510fd9d41a256038a9cdfa4587cb3c137bc0cc8b4af5&quot;, &quot;96806d0e744a973d994cfe836745ee52fa07c1e240006921ac115d8354cef048&quot;, &quot;731349264ead86f2e3b8d15cde62cfd45047a61365cacfbc0bcca043b113ba22&quot;, &quot;e8e1a721be526f8c59408ab5aa55a88a830c507d9fb28ed37c2bb6a4146732e3&quot;, &quot;46c5abb7c6c651723a9bcda4ad3578bacf674f721d8f91230d175113cdcefd7a&quot;, &quot;99641311988b178f3befef9ea6d2ab178c79f9f28939c8515cbe6afca74a3875&quot;, &quot;84e94c6dbcc628e13454ea5b7c4086881ca4b0370d6095fc2859e357faeca791&quot;, &quot;2f5038a0c6f9ef750d3c449aab6fed57fda0fd10ad583ac0065624f91538f5f9&quot;, &quot;26c6d80a9483224a704a4955025c9746fbbbdea0fa9aca4fca1cc647c2e9ee2d&quot;, &quot;445783f3a84cc87ef8034bfe44ec50a95a16cd3848ab1d03e1d23bca58ba85fe&quot;, &quot;ff9a7a3a6388710acefa3406c610879ba7ec76089c0b0b6bab5d0d8a97e666ca&quot;, &quot;43ae68378b9ad368bcda6c8dabd37ed268929ddd2469e386d9c207c8e517de13&quot;, &quot;82908baf6ba8c64d7dd5e048b4ab0e1ccbfc22fe7ba6ea6667f62e4e917c2bda&quot;, &quot;848728896f87c9ea7baf631b1ad7bae76790ec6f8c106200d9894d7ef53e8672&quot;, &quot;204d1a361631327e5a7c89989e482388b9d49cecaa8be1403beb69c8d3017f6b&quot;, &quot;b0d1639c727b5de6b8dad6e3f1c3d39af052906c889030876c66460053429cd5&quot;, &quot;609a61952d1a8c7e77e9ea89dee16b6f99fc0ad4ef32c87c4b6e47a9766b86d0&quot;, &quot;91c7f33910185d80a84f73c278e82b1c98040da789077a99458dca80130a7418&quot;, &quot;42f8af82e5d92f63acd4c3d42d2ccbde9cefacd69cfed043a4224d8f20da79bd&quot;, &quot;938ccf6d10bc98a2a99ca5af1c21186c18c6e86d3432ac6c7fd96e72b4457d13&quot;, &quot;da2d1ed20e197842b48ab6e10d8d7f8673a3c31cd5b92947a0682a1371cba1be&quot;, &quot;a4ae53eabf400fc8d124ba0b79442a4ac6707e8f691e24aeb6b647bad36c434b&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-23 18:14:29&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-23 18:14:44&quot;, &quot;record_count&quot;: 808, &quot;records_hash&quot;: &quot;2e2ef8323180d8b8b2634e7012808e36a03645bc214ee180136193ea9646a6ee&quot;, &quot;snapshot_id&quot;: &quot;434dd36599aa5c14b04c64ed17868ce0c0f9ff39b62be362726881ad6a7fd19e&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;d057436c350f9708fd29b54e6256593741e09e9dd19286529e399cd0ede53c2f&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;48739acef1abdd5a7d51b91cf8cdd296209a38b5c2ab09b497d795e2d7f8e2b8&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-23 18:14:00&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-23 18:14:11&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;ea9ce81b3469d76bf106f1676a9a68884e1466700a4a8ee2ce23ccdbd2d610cc&quot;, &quot;snapshot_id&quot;: &quot;29de381b3a938b1ee8150ef15bb96754d757415a74679c6c999014c100d7494c&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;5daf46c325394583a11167747be354a4d786bf81e72bddf12d567f69b0fe2bb5&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;99e5104b22578b7cf18d64eb0ea8b9370cbf0ada63460e36a0a58927109713f0&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-23 18:13:55&quot;, &quot;parser_version&quot;: &quot;2dd84fd42be4eb1575bcac2b0158315504ccb290af22e52fd36a5b897001f33f&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-23 18:14:08&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;105d047d7d8bef82fd0da15fea0430fd3a20eb077a884227e72ff74b7229d02d&quot;, &quot;snapshot_id&quot;: &quot;a9d1d9e975df64cf454f9abb61b485e86d7addd6830ae815afa1026a8fb2e37b&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">366</td><td>2026-10-23 18:16:30</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-23 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">165</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-23 18:14:11</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">12</td><td>2026-10-23 23:12:58</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-23 23:07:18</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4355</td><td>2026-10-23 18:22:20</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">662</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">140956</td><td>2026-10-23 18:13:50</td><td>—</td><td>partial: 5 symbols failed: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">129</td><td>2026-10-23 23:38:58</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-23 23:07:41</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">24008</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">41629</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">520</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">469</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">653</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1885</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">808</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">2</td><td>2026-10-23 18:14:28</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-23 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">33285</td><td>2026-10-23 18:13:51</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-23 18:13:50</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-24T05:10:10Z",
      "id": "urn:prexel:issue:850df61d-edff-5b28-a60d-bbf30728bdcc",
      "summary": "Prexel daily — period ending 2026-10-23. 51 charts: 33 with a read, 18 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 53 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-23-daily-8c4ce0030eca.html"
    },
    {
      "_prexel": {
        "content_hash": "86292ea7c2ace2821861ab2b4afe14e7a9b4033370e7b51953c3bedc3ff84fd1",
        "context_hash": "834785468409f2ec105082301bbf136b018d2bae410d96bec6d674e4ed068736",
        "kind": "daily",
        "period_end": "2026-10-22"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 52 (daily)</h1>\n<p>Period: 2026-10-22 → 2026-10-22</p>\n<p>Context hash: <code>834785468409f2ec105082301bbf136b018d2bae410d96bec6d674e4ed068736</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>H100 spot rental price: ▼ Bearish — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Evidence revised; cause unclassified. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-22T04:12:33.678503+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence revised; cause unclassified. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-22T10:54:57.949680+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence revised; cause unclassified. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-22T15:25:23.541977+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed; Evidence eligibility changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>H100 spot rental price: ▼ Bearish — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>PJM electricity demand: ⊘ No read — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — near-term PJM electricity demand (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-10-22T17:24:15.031527+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-22T18:51:17.567449+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 51 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 33 usable / 18 no read — 12 bullish, 10 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-21 21:01:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=4.096580689993461; b200_h100_ratio_change_14d_pct=0.5722376752928662; b200_offered_usd_hr=10.439453125; band_measured_pct=57.22376752928662; band_pct=5.0; h100_spot_usd_hr=2.548333333333333</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 4.096580689993461, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.5722376752928662, &#x27;b200_offered_usd_hr&#x27;: 10.439453125, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 57.22376752928662, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 57.22376752928662, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.548333333333333}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-21 21:01:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-21 21:01:56+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.1590908969400998; h100_depth_smoothed_3d=22.2; h100_dispersion_smoothed_3d=1.6576846522966782; h100_price_change_14d_pct=-0.10047859067811345</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.1590908969400998, &#x27;h100_depth_smoothed_3d&#x27;: 22.2, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.6576846522966782, &#x27;h100_price_change_14d_pct&#x27;: -0.10047859067811345}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-21 21:01:56+00:00</li>\n<li>interpretation: H100 spot rental prices are softening.</li>\n<li>evidence: band_measured_pct=-8.84340340053498; band_pct=8.0; h100_spot_usd_hr=2.548333333333333; spot_trend_30d_pct=-0.0884340340053498</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.84340340053498, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -8.84340340053498, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.548333333333333, &#x27;spot_trend_30d_pct&#x27;: -0.0884340340053498}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:48:42+00:00</li>\n<li>interpretation: Up 6.7% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 6.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.708854624907756, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 6.708854624907756, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3358053397, &#x27;total_tokens&#x27;: 250285360266616}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:48:43+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.38pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.1%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.3836137534418498, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.05517408818682, &#x27;top10_share_change_14d_pp&#x27;: 0.3836137534418498}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:48:43+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 16 cuts, 8 raises.; Fixed-basket price at prior-day token weights: $0.644/Mtok.; Seven-day like-for-like change: -3.62%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.6199712310061694, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 350, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6442731006120329, &#x27;like_for_like_change_7d_pct&#x27;: -3.6199712310061694, &#x27;price_cut_model_count&#x27;: 16, &#x27;price_raise_model_count&#x27;: 8}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:48:43+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -5.56%.; Token-weighted effective price: $0.645/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.5563198385433665, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -5.5563198385433665, &#x27;effective_price_usd_mtok&#x27;: 0.6445318380862359, &#x27;matched_model_count&#x27;: 351, &#x27;total_standard_tokens&#x27;: 147681874322954, &#x27;unmatched_token_share&#x27;: 3.5546548046926194}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-21 21:01:47+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +152.7%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.71966527196653, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 152.71966527196653, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:48:43+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: +0.33pp.; Open-weights share of routed standard tokens: 71.7%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-0.54pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.3336089869071941, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -0.535278028451998, &#x27;chinese_lab_token_share&#x27;: 68.36431943988583, &#x27;matched_model_count&#x27;: 351, &#x27;openweights_share_change_14d_pp&#x27;: 0.3336089869071941, &#x27;openweights_token_share&#x27;: 71.7436348256468}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:48:44+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $47.94/MWh vs prior 14-day $53.51/MWh (-10.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.417296920903986, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 47.93629880952381, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.51066351190476, &#x27;caiso_da_trend_pct&#x27;: -10.417296920903986}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:48:44+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.03 MMBtu/MWh vs prior 14-day 17.46 (-13.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.929540735088668, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 15.03121045461171, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.46384367294708, &#x27;caiso_heat_rate_trend_pct&#x27;: -13.929540735088668, &#x27;gas_print_max_lag_days&#x27;: 2}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:48:44+00:00</li>\n<li>interpretation: PJM total load growth exceeds the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +6.34% vs control mean +3.20% (gap +3.14pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 3.140429018122395, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 11.518584673419829, &#x27;dc_load_premium_pp&#x27;: 3.140429018122395, &#x27;erco_load_yoy_7d_pct&#x27;: -5.113381342144291, &#x27;pjm_load_yoy_7d_pct&#x27;: 6.343030683760164}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:48:44+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +16.91% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 16.91223590235842, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 76485.0, &#x27;nova_load_yoy_7d_pct&#x27;: 16.91223590235842, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Down 18.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -18.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Down 4.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 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18:50:00+00:00</li>\n<li>interpretation: Down 28.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -28.84%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -28.839959298449237, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -28.839959298449237, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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&#x27;history_values_hash&#x27;: &#x27;8d7cd3262e3617e3f919c4c6b5ba5ac7f17f985c0ba497476b9d8dd94e57f29a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-22&#x27;, &#x27;row_count&#x27;: 394, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;89a7cfffc026220134d6023b688e1fd6739f8478933e778b926f6755892a7eef&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;0cda77ac6a8c8c4363594c0cd7b9e6f169e27d28fe35f7316f0b398a9fc18bec&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6b3c7c2af3d7fef63ff8ea6e7155aa51fdc7365b341d30b6410033217b6c8fb6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;356524d6136f516d2957f9af155920f723edab0feab7a2dc9f7744536b00b85e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;8de7736c66f75edd0ef7f8621598aab06544a6ee670610886793837e65647c9d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;acb554e12b1b15467c7cab9e10a5a325a67cf957f49382a2c708f3405c6006ec&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c09b534b153d1a80cd4e401dfe34bf4cd359292ffab9d462f5fdfc1765ad8637&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;c0b08197bc9ba19a8e10ab9203d81bc25fb1653e6e8126f8d8755ce8f310fbd1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;0e1960f78cb6d630fcaac4e895af7f433658331de963daa37f313028904cb767&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;row_count&#x27;: 502, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1dca20e62095eca30cabba7032ba73909af953e642e90927b9168a1f8e5391e1&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-21&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-22 15:24:23.915000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:aca640c7eb482764b4025b9be1957e831971ea20b8ffb9297a58cffbc513c9d0:b2a304e2c1e1d3e304f4a9f9d34035a8acd1855bb5fa66eac85812c55efbd46f&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c012571ab27ac7537d742bd71de59e20ebc24d7bc304edb8f2afa57c7765e921:90ad01a647bb2ea098285cd2accd151890642abb3585a482758fab83bff31cd4&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:26885f4242ee3f7c3670e00f893c541ef6b7eed0b7f1de4ed333e74ebb367045:139373c12be499ea7ac92af02692c5a7a07743dbf0366366de61f87cd5e718f3&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d739a62ae403420c08eabc3abdd826b2e1b79b6d35e337bb1a978ef443e57e1e:4c9517cd246a7c114cedda0dd40879a2f95b23c53e8afe39ed7e0a8d8a8a2efd&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b51f7041e931f4d8aa4dc1b2be8de4bc8ff9517702702009577a1e4270e7b189:bd744d8302168fc065e2de1aa3957d3a1d3bc07a91a19bfe825463d734968bf8&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-21&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:c012571ab27ac7537d742bd71de59e20ebc24d7bc304edb8f2afa57c7765e921:90ad01a647bb2ea098285cd2accd151890642abb3585a482758fab83bff31cd4&#x27;, &#x27;aib_bronze.equity_ohlcv:c7cd5c3dad45a0163d9b53a1cf7a5909d0e759d75388c763f94f1f179078fe4a:8a22440d66687a75370116ee515713100c24b6345598084ef3a1b58d7a73efc8&#x27;, &#x27;aib_bronze.equity_ohlcv:d739a62ae403420c08eabc3abdd826b2e1b79b6d35e337bb1a978ef443e57e1e:4c9517cd246a7c114cedda0dd40879a2f95b23c53e8afe39ed7e0a8d8a8a2efd&#x27;, &#x27;aib_bronze.equity_ohlcv:d846ef6efc0f03abfc525f3f888f2787b8d141280bb4a7643a03b520d68ba986:8f25fdad97db837956be01a96e83feeb0a10a2bcbd90557ef8e16755df994b05&#x27;, &#x27;aib_bronze.equity_ohlcv:e880bd01b66cb16a7b6a28140fcc424730a925d759cdf594a5482e36cce180ad:eee22285f034a31d11cfaa05c3b4ffadfde9b043f16269566d458b579cd00603&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 84.73168425479784}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Up 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.2624307191392736, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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7.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.370952311389134, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -7.370952311389134, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:bb546b7c175e8eeccbf6946442e6005787a76cec7a77b48ab938c9cff7f01d12:96590b910d9410bc3fec4ff5517f6ef2b110d46ead02ee20144cb7dd554dd1e2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 127.20602937305459}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Down 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:742871881b68dbdab6f75d35b33331b8ca126b8b7a09f2c85cf077dc1ec4a6aa:dd9162b052b628bb6215c111f30efb604c29d35f9c63e6f0e7e1ce245bfb16c1&#x27;, &#x27;aib_bronze.equity_ohlcv:9db10a6bb82ab63d648117b46aec96a74f75ed7dd028258b51a42b2cb3dc75f3:d6ccee65bd4fd04a57b684d4d90f57d1647ba1b35f72ab63e120c0e920808fee&#x27;, &#x27;aib_bronze.equity_ohlcv:bc1c433316d119f6cabf6c4242dbe6d8966cf0bcb6e690277f03c01532943800:6c277b67012804be60eb34b73466dbe7877a0a15aa17fde7b85f19eeefd107b7&#x27;, &#x27;aib_bronze.equity_ohlcv:c476484f7c9ad6693bbdf2b800aaa8c4264cf4d8146d0288ba61c786ecf17157:aa570532d4592c8419e731909776e2923114e1ff8b821d3b9383786667b1616b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.25187377923854}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.288.; Two-year own-history percentile: 74.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; excludes stocks whose price history is under review; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 74.12008281573499, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.28846996829732185, &#x27;pair_count&#x27;: 16836, &#x27;symbol_count&#x27;: 184}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Down 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.3653915549939768, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.3653915549939768, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;e7645fe10b8609b83b3effdc96b01ef39325cc463a134a53072de0c0b96fab7c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;82da79a7671894a74787f503462f803c5d74cbd2347595e1a1e73912fb3dfe46&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1f0db3c382580d3a993b51c06b01eb3b5a2ab9d7a60d17c1e741b265783c5f01&#x27;, &#x27;symbol&#x27;: 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&#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-22 04:11:24.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:099971ab03d2763517287063a136006ac72f19869aeaafe62d56b3811ca6170c:ce6437e0b567d686a5cdf04f64140f151ae4814832d798571ca43d57fba1db3c&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b2311dfce844f516e0dc98dfed18b0422a37e3892288320877759aee4434be98:49357d62447e816d3450d5533ac95a588512850c80e4913346d8fd6b6b2dcefa&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:537e86d86bd20b1699fd51ea3c93084404a86454fcade4bb6292796133dd6729:ba6ab36e9c3b5e86b99802d8a7d8076535f7c40cc4c9544ccb774961bb885fe5&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:948874eff6deba3e3529d3423946975172a027b0fc78334b6e32f968eb098b36:96a1c473ce143c515428ffa915c85d65d506eeb6b1a0152db8072b2fe5dffe4b&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:099971ab03d2763517287063a136006ac72f19869aeaafe62d56b3811ca6170c:ce6437e0b567d686a5cdf04f64140f151ae4814832d798571ca43d57fba1db3c&#x27;, &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:537e86d86bd20b1699fd51ea3c93084404a86454fcade4bb6292796133dd6729:ba6ab36e9c3b5e86b99802d8a7d8076535f7c40cc4c9544ccb774961bb885fe5&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:948874eff6deba3e3529d3423946975172a027b0fc78334b6e32f968eb098b36:96a1c473ce143c515428ffa915c85d65d506eeb6b1a0152db8072b2fe5dffe4b&#x27;, &#x27;aib_bronze.equity_ohlcv:b2311dfce844f516e0dc98dfed18b0422a37e3892288320877759aee4434be98:49357d62447e816d3450d5533ac95a588512850c80e4913346d8fd6b6b2dcefa&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.43739192014682}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Up 2.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.96%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.960819260070945, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 1.960819260070945, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;0cda77ac6a8c8c4363594c0cd7b9e6f169e27d28fe35f7316f0b398a9fc18bec&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6b3c7c2af3d7fef63ff8ea6e7155aa51fdc7365b341d30b6410033217b6c8fb6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;356524d6136f516d2957f9af155920f723edab0feab7a2dc9f7744536b00b85e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;2af7d505ba079e55f2d8c901bba40bf7729574c8d19d0cd6e0c3dc8526faa7b7&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cfbe8505ab3200088962fe1d6e9f2fc0087d97dc89bd256b34cbf72c9440aae2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d2586770fa11bc9ecbd9a613ded6de587697c756ea4afb16fc6705daf1ed8ed2&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-21&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-22 15:24:23.915000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:26885f4242ee3f7c3670e00f893c541ef6b7eed0b7f1de4ed333e74ebb367045:139373c12be499ea7ac92af02692c5a7a07743dbf0366366de61f87cd5e718f3&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2355eff395faea5ec4676c8697111db8d7331a8007acf9521af3e758f5cb68e1:3c50b388dcac9020a526dcceb9cd9086fce410521c87c1855aa0b5bc47164343&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:26885f4242ee3f7c3670e00f893c541ef6b7eed0b7f1de4ed333e74ebb367045:139373c12be499ea7ac92af02692c5a7a07743dbf0366366de61f87cd5e718f3&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:4ec7c1f323632b3053e17cd6f7e521af68e43908073a7ab4a671f86bcadb15e5:fb03afecd2d175e12994630e7c3b48d81f958640fd41c2aa3c7e7c2769f26520&#x27;, &#x27;aib_bronze.equity_ohlcv:a0c5dbb4512d0530aa3616c0a15ab30495718ce3efbd4f5c4e55935f3b5f5b83:9954c9fd884f4844a24c9676d806eaa0a4e3a05e6c36926d54e494701e2f8435&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.02934553840433}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Down 2.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.069671214305857, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.069671214305857, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;0cda77ac6a8c8c4363594c0cd7b9e6f169e27d28fe35f7316f0b398a9fc18bec&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6b3c7c2af3d7fef63ff8ea6e7155aa51fdc7365b341d30b6410033217b6c8fb6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;356524d6136f516d2957f9af155920f723edab0feab7a2dc9f7744536b00b85e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;804aecebe85e5818304c8a9e87ededef46781339093fa01b8c082d2a28292106&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e23a3dffe35e20157b1a7b5a3fcd795bde54cb6ebe1c08e128a11d197be7ea8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 547, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d24f0b3a5e1f8cf6981820cbbcadba61518e9df0bf567446ea8c7f8a46fec47e&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-21&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-22 15:24:23.915000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:26885f4242ee3f7c3670e00f893c541ef6b7eed0b7f1de4ed333e74ebb367045:139373c12be499ea7ac92af02692c5a7a07743dbf0366366de61f87cd5e718f3&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:36c20313a9434e5a9bbd0b2207b38485d109b96b985ee87b59290b184b01ee1d:13921462c08c02d26735445b37b9e0396d8e4197736956d2611d970f8555b23c&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2355eff395faea5ec4676c8697111db8d7331a8007acf9521af3e758f5cb68e1:3c50b388dcac9020a526dcceb9cd9086fce410521c87c1855aa0b5bc47164343&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:63f39a733fef452a72d8a1af263adaa893449a5e49c3e24151ff52408949b33f:4167decccf674f6f2a93c6b459ccfe8c6ef1a08da880e0a9db76ba7256414a51&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2355eff395faea5ec4676c8697111db8d7331a8007acf9521af3e758f5cb68e1:3c50b388dcac9020a526dcceb9cd9086fce410521c87c1855aa0b5bc47164343&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:26885f4242ee3f7c3670e00f893c541ef6b7eed0b7f1de4ed333e74ebb367045:139373c12be499ea7ac92af02692c5a7a07743dbf0366366de61f87cd5e718f3&#x27;, &#x27;aib_bronze.equity_ohlcv:36c20313a9434e5a9bbd0b2207b38485d109b96b985ee87b59290b184b01ee1d:13921462c08c02d26735445b37b9e0396d8e4197736956d2611d970f8555b23c&#x27;, &#x27;aib_bronze.equity_ohlcv:63f39a733fef452a72d8a1af263adaa893449a5e49c3e24151ff52408949b33f:4167decccf674f6f2a93c6b459ccfe8c6ef1a08da880e0a9db76ba7256414a51&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.2052362427968}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Up 3.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.40%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: 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&#x27;aib_bronze.equity_ohlcv:26885f4242ee3f7c3670e00f893c541ef6b7eed0b7f1de4ed333e74ebb367045:139373c12be499ea7ac92af02692c5a7a07743dbf0366366de61f87cd5e718f3&#x27;, &#x27;aib_bronze.equity_ohlcv:b5b971755d394d860eae500b7f7a8845172246674fc870c2e58cdb4506480a22:43b624f46e79cb7d070e21c565a7b1f16997c8b5a7f067dc71a83358e776903b&#x27;, &#x27;aib_bronze.equity_ohlcv:cd2db87c2881502823d9facfc1bbad1d370077516b228502499c8135ce9d5e56:f258a93860a34386a1b6e67468c2816a65988b10145130eb4361c95ad98d9469&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 90.47754026944996}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Front VIX at 0.89× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.891.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 189, &#x27;epoch_values_hash&#x27;: &#x27;d2ee7d9eb5fa2919c88e01f2735999b76f98dfe43636f8ffd4937c00c81fa7bd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0adde568b8f2b5e4158ccbb70ff7515f7a1c822554ab8cbf94033d2bc92e2738&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 566, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a38a8cf781c94f8a55c66234fa1426e2d344a3121213d69e464ace42bdb128ee&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;e607a88dce600c5dad663f4056d7b3517117a24ddb4fae5b2b989a84961b83d8&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fb672af428a74b048ccb416467a59c72c6b7c0834853eeda55fd42f0b1a0504e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-22&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 558, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;482ff11376308822f501a8168367731bb68aba9e4ca76d7bed12241d618993d1&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-21&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-21 21:03:21.360000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:625d383040182bcbc721739e50a86a08c3bbc98c74738275f0891a1898ad0d68:5f7e51494e723eedfd7830d07838650e81d829da8ecbd1cc22339b6194108b27&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e2570f1906037a78931129a3d09948aa4ce0e8bc9d5c2145dfa226c765f0be2b:4c58213ea2334a63c0382b8f53024c60027680d435fd6bf2a0ef05fca7865508&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cb84b366d7d58dc4ea4364d2f478a62c6d4611e74fdfd150e02436fee71936e4:28d60302a0810fbb6a36922ca389364760ee0e1f57bbb41187721427f6943182&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-21&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ed66026a25e5561d44fa4494f67b265a490b137e563d9667a2b8a063b004bc21:81305bab624446c7379b3b1d9125b18d091de0d489f42f040754ba9c5897dabc&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:625d383040182bcbc721739e50a86a08c3bbc98c74738275f0891a1898ad0d68:5f7e51494e723eedfd7830d07838650e81d829da8ecbd1cc22339b6194108b27&#x27;, &#x27;aib_bronze.equity_ohlcv:cb84b366d7d58dc4ea4364d2f478a62c6d4611e74fdfd150e02436fee71936e4:28d60302a0810fbb6a36922ca389364760ee0e1f57bbb41187721427f6943182&#x27;, &#x27;aib_bronze.equity_ohlcv:e2570f1906037a78931129a3d09948aa4ce0e8bc9d5c2145dfa226c765f0be2b:4c58213ea2334a63c0382b8f53024c60027680d435fd6bf2a0ef05fca7865508&#x27;, &#x27;aib_bronze.equity_ohlcv:ed66026a25e5561d44fa4494f67b265a490b137e563d9667a2b8a063b004bc21:81305bab624446c7379b3b1d9125b18d091de0d489f42f040754ba9c5897dabc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.891025641025641}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-22 18:50:00+00:00</li>\n<li>interpretation: Down 4.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.605639814310647, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.605639814310647, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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&#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:24248c9fa27bad08cc780df9986f8e6c653324990f2aeb5ef3c2426bfa4d5236:9ccbb2b7ab763092dd666b57c17b8b9d643b452bc5d8a2d7c00e18a3bbf8526a&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:820b6d686e08ec435a8dbd56f832ec9d9615a3a70f844ad467083dd8d0e66c83:f144ba771adfc6eac197171204042f25787aa053c3865a456b936a4b9a3d6eee&#x27;, &#x27;aib_bronze.equity_ohlcv:948874eff6deba3e3529d3423946975172a027b0fc78334b6e32f968eb098b36:96a1c473ce143c515428ffa915c85d65d506eeb6b1a0152db8072b2fe5dffe4b&#x27;, &#x27;aib_bronze.equity_ohlcv:b2311dfce844f516e0dc98dfed18b0422a37e3892288320877759aee4434be98:49357d62447e816d3450d5533ac95a588512850c80e4913346d8fd6b6b2dcefa&#x27;, &#x27;aib_bronze.equity_ohlcv:d05df1cc13912538449e12f0ec2dc5a54e1bdf26fc9887e18701d8dd7c798a60:c6ec365c0d8a9f667786967682b10010fa89ed211155bcb8778f4af3d57501c2&#x27;, &#x27;aib_bronze.equity_ohlcv:d2b1dfd7d4a33efde8f310150a68e0ee38da6d9768310b7fb3e0f45f7929ef71:090c52f234e3ee4c1fb9a11118aa765be9ff489aa848cc7a4c943e4db4280a75&#x27;, &#x27;aib_bronze.equity_ohlcv:e1afdd7125dbaad019e367bdece14b5e26c7d8607ff37aaa6e15440e3c4b4b81:eb4a2bb7995da6c5331f8bb2d03096fe3a5eea649e574f9f2856f4f5663072e0&#x27;, &#x27;aib_bronze.equity_ohlcv:eade9c3a835cdc65b5eed1949322229a088fdc9a6a1045da1c5f3c371366c5eb:ee90fee5d8dda1c6a69638b42320bd9ba848d0d34eedf5f1c9b6b57b7f5bf981&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.8916616314109}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-21 / 2026-10-21 21:01:56+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $965B (conditional on an IPO), -14.36% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $793.; Probability-weighted bucket midpoint: $965B.; Seven-day implied-cap change: -14.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.356130622304386, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.036, &#x27;full_set_prob_sum&#x27;: 0.9985, &#x27;implied_cap_change_7d_pct&#x27;: -14.356130622304386, &#x27;implied_cap_usd_b&#x27;: 965.2777777777778, &#x27;ipo_by_2026_prob&#x27;: 0.046, &#x27;no_ipo_by_2026_prob&#x27;: 0.9625, &#x27;volume_24h_total&#x27;: 792.831819}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-21</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-21</td><td class=\"num\">116,579</td><td class=\"num\">24</td><td>—</td><td class=\"num\">8.665</td></tr>\n<tr><td>CISO</td><td>2026-10-21</td><td class=\"num\">637,351</td><td class=\"num\">24</td><td>—</td><td class=\"num\">4.009</td></tr>\n<tr><td>ERCO</td><td>2026-10-21</td><td class=\"num\">1,260,708</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.269</td></tr>\n<tr><td>PJM</td><td>2026-10-21</td><td class=\"num\">2,074,258</td><td class=\"num\">24</td><td>—</td><td class=\"num\">3.369</td></tr>\n<tr><td>SOCO</td><td>2026-10-21</td><td class=\"num\">556,773</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-0.4586</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">56.48</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">52.7</td><td class=\"num\">0</td><td class=\"num\">-3.785</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">53.44</td><td class=\"num\">0</td><td class=\"num\">-3.043</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">74.49</td><td class=\"num\">0</td><td class=\"num\">7.116</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">67.38</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.548</li>\n<li>as of: 2026-10-21</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.08843</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>415 benchmarked model identities; 246 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 18,281,434,994,873</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 6,863,885,238,832</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,002,894,739,617</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,290,987,363,859</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 1,137,566,379,216</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 5,785,542,044,353</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,477,383,319,983</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 351 eligible configurations.</p>\n<p>Usage window: 2026-09-22 → 2026-10-21. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-22 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;c1cc3d6fcd69e700a9b07cd612c289ef3970ecf805dcae1d7d802f04667705ee&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;64a5a796f05be2c08b7410dce969596e7a25f483079096cd29d945d272185e45&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;43eaab22245c7d9d5504aee9376ec97f3ce951c7f43bc7197d3221b106382985&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-22 18:48:48&quot;, &quot;parser_version&quot;: &quot;554b4bc6c1d5539a2a461bb5e8a7e0e6194751b442389ebc335d5bd5ec8f10aa&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-22 18:48:51&quot;, &quot;record_count&quot;: 1878, &quot;records_hash&quot;: &quot;8b0b3ba7d8c1b543f631e37a03cdd54e9e955e546ad95b293ca94daddb6c816b&quot;, &quot;snapshot_id&quot;: &quot;adb8d4f53e2a88ceb30a34f06a1beaa8478b5b9e45e669acc59aa5c6500862e3&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;c9ff6c3f0e5ff39ca752e3327c117367fa2effc747527239f105ed0adb934dd8&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;67a164443b88f25db91c4a9201a5426ef777943d687bd40e5595501ff18d0513&quot;, &quot;dc391731d6d9f62ed04a6f76d019c5d6f1d353ae824ed5b7dbe86d4e23401033&quot;, &quot;b1202c597c3c2956768e2f38ca755c2276d463ed5c8c109bc226c2dcdafc9bed&quot;, &quot;6d1f030b58b8d05b765b98f521a5541d8219160ea4f4504f6f8d0b8cf6e60029&quot;, &quot;a98b9baa2b459101c53c7e905eb8483fdbbd9418dd21dade4191e059507281f6&quot;, &quot;5863951581dc342e06ccbe42627c082d280761f08c4c40d01716fca3961d65e0&quot;, &quot;17cfa6f4f8c8066f974f17c8461c0fd54554e2c954aea2ee94b0a84f09098f5a&quot;, &quot;49f7f6180db828ace7414426a359a61ef849117d8a1f3d1441d6861d68a95c98&quot;, &quot;3b9336db5156166704aeab79bdd992ba0e2bafb134dfee3298466ea58bf32c5a&quot;, &quot;cf96e0b30db5618f1f75e949d4d27f2b08c8a7282489ecf61b56acfd68f155ee&quot;, &quot;b5c51d3b5718b1783ae0e3cd8a667aa2f616c3985d9156005da9b8ba0e6e280f&quot;, &quot;ad40cef339e6631ca3419625385719f030fa96e4116d099ddb72df3fbe4bf12a&quot;, &quot;4317b7fa9db923c7603513244e7d08682fec947379748822605e508e4c470874&quot;, &quot;fcfba8e9cd658c209cb3d945ff752616fde3e836e0b7c580a770fc15fcb8052a&quot;, &quot;6b17ae2ab974c2c91c03db147b40aad5a124430089d31ad8cac11c7f4fa6fd8a&quot;, &quot;19133498e2c0bbc1157dd0fae656111ec2433ef6dc119adebe2e89d404853c4a&quot;, &quot;439c07ef8cc91ba40bf824f4a17f75320b987171f4e423836d82d15b175c93dc&quot;, &quot;35bd3148dd233c96e4c4713c4493ed096a423cadc4f36dbe2f385af83059a798&quot;, &quot;a928b8cb27ee714abced92dfd9d8b7deb09a7c9fde97a41263fd6b2543a62b60&quot;, &quot;567ba6f131a0723a35c18e1c8e6b6497c32e5074c5d3045e4381f39d7d5d974c&quot;, &quot;9e86edbc2122ea7e54670d3e13ad3a5f12400fb2b2d0ef62e23fca20213b71ee&quot;, &quot;4c3859a6bc6518de76e80c2157a8b52caebf22865eb44ece85f1d0d06738cb9c&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-22 18:48:54&quot;, &quot;parser_version&quot;: &quot;554b4bc6c1d5539a2a461bb5e8a7e0e6194751b442389ebc335d5bd5ec8f10aa&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-22 18:48:56&quot;, &quot;record_count&quot;: 801, &quot;records_hash&quot;: &quot;898b0f3d4e2c837a9444b620d60ed6e82c416e04be8436ae13bac1d4b50ba42b&quot;, &quot;snapshot_id&quot;: &quot;0148b6e0f8d1a837488d2582e1af1f9261c72c81da2ffbbe6aee7979547d504e&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;994d84c44baca7b635357876d8b3b1ba080d98e0bc372924145c862431709f00&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;52ee9bc1f97876abedb610cf4cdd16eaef6b54a1185f7c6b603fedf433edb5a7&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-22 18:48:44&quot;, &quot;parser_version&quot;: &quot;554b4bc6c1d5539a2a461bb5e8a7e0e6194751b442389ebc335d5bd5ec8f10aa&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-22 18:48:51&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;c0be81109ddc44fdf9ff60db3f2ee24bf5d1c77ed796824df6e367f284ec02c2&quot;, &quot;snapshot_id&quot;: &quot;405858b0de289f8c08dad87037f1638eea14d6bc10e6bf7df9b8445c3e2d3841&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;4608f4dd05f0004d49dab7fa1469a2e1fe9bc19755707a8eedc51bfc6b90ea80&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;bb1dae655cb7776f9b4c95418caa3434ba2acada8ca5d958a0104271aaf304ca&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-22 17:20:36&quot;, &quot;parser_version&quot;: &quot;554b4bc6c1d5539a2a461bb5e8a7e0e6194751b442389ebc335d5bd5ec8f10aa&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-22 17:20:49&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;94faec455fea222ba4ef16030951f0a5060ff5772137d02df793dbbbac9e0210&quot;, &quot;snapshot_id&quot;: &quot;96d540177b62d291314658e2eab3ec984e358ff2b741bffff2ed043c31838863&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">1</td><td>2026-10-22 18:50:32</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-22 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:39</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:51</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">25</td><td>2026-10-22 23:07:34</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-22 23:04:38</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">4287</td><td>2026-10-22 18:50:32</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">140708</td><td>2026-10-22 18:48:39</td><td>—</td><td>partial: 5 symbols failed: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">130</td><td>2026-10-22 18:48:39</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 23:52:55</td><td>—</td><td>—</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">468</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">655</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-22 18:48:39</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-22 18:48:39</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1878</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">801</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:49:12</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-22 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-22 18:48:40</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-22 18:48:39</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-23T05:10:10Z",
      "id": "urn:prexel:issue:b81d34de-92c2-51d1-96fc-efa77dc967dd",
      "summary": "Prexel daily — period ending 2026-10-22. 51 charts: 33 with a read, 18 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 52 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-22-daily-86292ea7c2ac.html"
    },
    {
      "_prexel": {
        "content_hash": "4a932de8d08eff4d6d0120ed40d3542f436f2306e1aabfe3eb2b5bd09e5b31a2",
        "context_hash": "d3647058821b4f808f7093866caa95266aa12bc9657adeef20b78345c309b2a6",
        "kind": "daily",
        "period_end": "2026-10-21"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 51 (daily)</h1>\n<p>Period: 2026-10-21 → 2026-10-21</p>\n<p>Context hash: <code>d3647058821b4f808f7093866caa95266aa12bc9657adeef20b78345c309b2a6</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>H100 spot rental price: ▼ Bearish — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-21T04:06:16.782482+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence revised; cause unclassified. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T13:34:58.431972+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T16:43:52.033449+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▲ Bullish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▲ Bullish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence revised; cause unclassified. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Evidence revised; cause unclassified. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-10-21T21:04:34.645891+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 28 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 13 bullish, 10 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-20 22:24:25+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=3.799369889694539; b200_h100_ratio_change_14d_pct=0.6223872639715673; b200_offered_usd_hr=9.121302083333333; band_measured_pct=62.23872639715673; band_pct=5.0; h100_spot_usd_hr=2.4007407407407406</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 3.799369889694539, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.6223872639715673, &#x27;b200_offered_usd_hr&#x27;: 9.121302083333333, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 62.23872639715673, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 62.23872639715673, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.4007407407407406}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-20 22:24:25+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-20 22:24:25+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.23809523809523808; h100_depth_smoothed_3d=24.0; h100_dispersion_smoothed_3d=1.8334101438522339; h100_price_change_14d_pct=-0.10047859067811345</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.23809523809523808, &#x27;h100_depth_smoothed_3d&#x27;: 24.0, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.8334101438522339, &#x27;h100_price_change_14d_pct&#x27;: -0.10047859067811345}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-20 22:24:25+00:00</li>\n<li>interpretation: H100 spot rental prices are softening.</li>\n<li>evidence: band_measured_pct=-15.669235631148492; band_pct=8.0; h100_spot_usd_hr=2.4007407407407406; spot_trend_30d_pct=-0.15669235631148493</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -15.669235631148492, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -15.669235631148492, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.4007407407407406, &#x27;spot_trend_30d_pct&#x27;: -0.15669235631148493}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:01:45+00:00</li>\n<li>interpretation: Up 6.1% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 6.08%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.078833906833103, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 6.078833906833103, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3281195224, &#x27;total_tokens&#x27;: 245334280578925}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:01:48+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.27pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.26567224397490463, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.02007754919563, &#x27;top10_share_change_14d_pp&#x27;: 0.26567224397490463}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:01:48+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 15 cuts, 9 raises.; Fixed-basket price at prior-day token weights: $0.671/Mtok.; Seven-day like-for-like change: -6.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.552929620747461, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 350, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6707551592148534, &#x27;like_for_like_change_7d_pct&#x27;: -6.552929620747461, &#x27;price_cut_model_count&#x27;: 15, &#x27;price_raise_model_count&#x27;: 9}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:01:48+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -8.17%.; Token-weighted effective price: $0.674/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.174743047482503, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -8.174743047482503, &#x27;effective_price_usd_mtok&#x27;: 0.6739700184371359, &#x27;matched_model_count&#x27;: 350, &#x27;total_standard_tokens&#x27;: 148667931736278, &#x27;unmatched_token_share&#x27;: 3.3875433023745143}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-20 04:05:24+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +152.7%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.71966527196653, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 152.71966527196653, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:01:48+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: +1.53pp.; Open-weights share of routed standard tokens: 72.1%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 1.5295341428250282, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 0.9612727767453038, &#x27;chinese_lab_token_share&#x27;: 68.90745763326225, &#x27;matched_model_count&#x27;: 350, &#x27;openweights_share_change_14d_pp&#x27;: 1.5295341428250282, &#x27;openweights_token_share&#x27;: 72.1373079926704}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:02:41+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $46.22/MWh vs prior 14-day $53.63/MWh (-13.8%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.814576071630691, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 46.217521726190476, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.62568241771709, &#x27;caiso_da_trend_pct&#x27;: -13.814576071630691}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:02:41+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.40 MMBtu/MWh vs prior 14-day 17.51 (-17.8%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -17.77020488344432, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.400424366677237, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.51241669308007, &#x27;caiso_heat_rate_trend_pct&#x27;: -17.77020488344432, &#x27;gas_print_max_lag_days&#x27;: 2}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:02:41+00:00</li>\n<li>interpretation: PJM total load growth exceeds the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +8.17% vs control mean +4.64% (gap +3.53pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 3.5300502009527666, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 11.461428260099748, &#x27;dc_load_premium_pp&#x27;: 3.5300502009527666, &#x27;erco_load_yoy_7d_pct&#x27;: -2.1741804936579037, &#x27;pjm_load_yoy_7d_pct&#x27;: 8.173674084173689}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:01:57+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +19.21% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 19.205101214668858, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 76801.0, &#x27;nova_load_yoy_7d_pct&#x27;: 19.205101214668858, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Down 17.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -17.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -17.07214960042832, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -17.07214960042832, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;58d0983084f60e1b66fef02bcdf3973ab05d9430ba6c8c36e501ade4d425bf8a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;aib_bronze.equity_ohlcv:e6fcb750a933926aa482b4228cf30539aae7693ae1b1016e87485ca747fd5865:14f10a7314eaabe2d552edd1d012219ccf2da26d53e24407f93c15751a438db6&#x27;, &#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 49.04353433533923}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: PJM load z-score is withheld: the 28-day weekday baseline has at most four observations.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Down 3.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.45%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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&#x27;aib_bronze.equity_ohlcv:c464f6ca1e198cbeadef0773e4c523492f57402dd262a09c37fdee9704cd3708:c521aeebc779a165d1ce68bbfd1993fd1e388b02214e07103ee7ac7ef130bb86&#x27;, &#x27;aib_bronze.equity_ohlcv:e6fcb750a933926aa482b4228cf30539aae7693ae1b1016e87485ca747fd5865:14f10a7314eaabe2d552edd1d012219ccf2da26d53e24407f93c15751a438db6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.96717185203855}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Down 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.011043172095659415, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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21:03:13+00:00</li>\n<li>interpretation: Down 28.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -28.56%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -28.55963284947717, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -28.55963284947717, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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6.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.112283589285594, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -6.112283589285594, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:e7ce0cd09eeecd0e25b534cf9ccba2f6ebffca50fc757e21a74ba8e2eb0ec94b:ff2da0184a430fd118ba74548b797b6d82969e36a1d47d73ed8ed1ab692da268&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 125.47583083507159}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.28%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.27966479993319915, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.27966479993319915, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;JAAA.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;774cae1decbea8978a3fe0e821f702b4858daacd0dc2c929935bd5710d5b5b1e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;eae52738ab684f3fe8851f5fd560f56aa335701c0264d52109b8a569520ccf45&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: 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&#x27;aib_bronze.equity_ohlcv:614b0877f290711c24cf9290527fdcb13d2245508440734aad72a8b85dd3e2d8:422d27185c2fb1ead818581718169e37347440a2f350ce0cb18a27a23804fdf1&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b8a7f0c3aa96f4599c443602131683ed4d4b0f2cbbaba5915de48956aebfda65:4a8467f0fc8238134fb86b988620b27530a07629067eaf31faa29417e582ad55&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:65537f01947921a91c697a45d9f67fc45b2c8c2c5d2ee57d6f7ea34c6cb00e60:094067355ca1d26f7ef6c4bb3ca4bb5d934bb00f8fc4c93d1d83dc10d3b32be0&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:614b0877f290711c24cf9290527fdcb13d2245508440734aad72a8b85dd3e2d8:422d27185c2fb1ead818581718169e37347440a2f350ce0cb18a27a23804fdf1&#x27;, &#x27;aib_bronze.equity_ohlcv:65537f01947921a91c697a45d9f67fc45b2c8c2c5d2ee57d6f7ea34c6cb00e60:094067355ca1d26f7ef6c4bb3ca4bb5d934bb00f8fc4c93d1d83dc10d3b32be0&#x27;, &#x27;aib_bronze.equity_ohlcv:94de2a855abc370e9ba0ee2eb69cdd291566314aeef3f8f431319fd6eff0e0a6:a847662c9e06385a094f0fae5db9ceeab76aeae461925d42f79c21b1631cd6ac&#x27;, &#x27;aib_bronze.equity_ohlcv:b8a7f0c3aa96f4599c443602131683ed4d4b0f2cbbaba5915de48956aebfda65:4a8467f0fc8238134fb86b988620b27530a07629067eaf31faa29417e582ad55&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.27289726447033}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Down 0.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.75%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-21 21:03:21.360000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:909229fd513924502d6733b342707713e767568032be9f016831dda9c39ba949:ed89e89add11000ecd604ea84e0032d17d1762e0dda39c1043e2d789480865b0&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:52cfcc46f24533d956647caf9ee6959284277ab3a47f3477691323db409abf29:fab3aab2629805f6954edbc5f5f85657867200d18b6ca3278012d886f5507cfa&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ab7292f8fefade00f88863a8f2dd4241d9ee4efa10de6810810c1e6a43fcab67:8fcec5ab63c6ec111505dfff076f66436f5b6ce046c40ebaf9a26004e44056b8&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4c865674a980fbebbcd0fe823703d41d9829512ece326ea1657553f45d73de58:869d715ef7b280ce7b2e9da3f68cd130b318cb346ddd663b30491ea3b40d89d6&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:4c865674a980fbebbcd0fe823703d41d9829512ece326ea1657553f45d73de58:869d715ef7b280ce7b2e9da3f68cd130b318cb346ddd663b30491ea3b40d89d6&#x27;, &#x27;aib_bronze.equity_ohlcv:52cfcc46f24533d956647caf9ee6959284277ab3a47f3477691323db409abf29:fab3aab2629805f6954edbc5f5f85657867200d18b6ca3278012d886f5507cfa&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:909229fd513924502d6733b342707713e767568032be9f016831dda9c39ba949:ed89e89add11000ecd604ea84e0032d17d1762e0dda39c1043e2d789480865b0&#x27;, &#x27;aib_bronze.equity_ohlcv:ab7292f8fefade00f88863a8f2dd4241d9ee4efa10de6810810c1e6a43fcab67:8fcec5ab63c6ec111505dfff076f66436f5b6ce046c40ebaf9a26004e44056b8&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.22788187101996}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▲ Bullish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Up 1.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.24%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.2425170905609795, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 1.2425170905609795, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;71d2fc09d692fd61f8bffd09bb989ea3d58e67f995afbdc4ab682a9965012464&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;109bab833a8995c145a713c7695233b2a230a63642bcd026c331c2e163fe4fb3&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f334e81e8d284d4372a6fd97272926859eea9fa5d7e3fdff21098d216b904532&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;2af7d505ba079e55f2d8c901bba40bf7729574c8d19d0cd6e0c3dc8526faa7b7&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cfbe8505ab3200088962fe1d6e9f2fc0087d97dc89bd256b34cbf72c9440aae2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4526245809e21e5edc6defab5df21968683a6e2e8cbe88a1aa00b47c1b9f0489&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-21 21:03:21.360000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fa32dfe7d5a8ad9c5bfa21b9b026a3427a5b8b6e9f9897a5e219577fbb90e456:8d4120383923c8afee5b47b3d0e00224c195e72a1fbd4de0c9f0cc996a99ba16&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e6fcb750a933926aa482b4228cf30539aae7693ae1b1016e87485ca747fd5865:14f10a7314eaabe2d552edd1d012219ccf2da26d53e24407f93c15751a438db6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:265730b23ee67fdde0ec6a9da51721ef4cba21ba3d7a3450bece425c0ac90f9f:ba1d2ccdf60b38b4e40368f5dc90227c4204a96237af53c591f835dea2381151&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:265730b23ee67fdde0ec6a9da51721ef4cba21ba3d7a3450bece425c0ac90f9f:ba1d2ccdf60b38b4e40368f5dc90227c4204a96237af53c591f835dea2381151&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:e6fcb750a933926aa482b4228cf30539aae7693ae1b1016e87485ca747fd5865:14f10a7314eaabe2d552edd1d012219ccf2da26d53e24407f93c15751a438db6&#x27;, &#x27;aib_bronze.equity_ohlcv:fa32dfe7d5a8ad9c5bfa21b9b026a3427a5b8b6e9f9897a5e219577fbb90e456:8d4120383923c8afee5b47b3d0e00224c195e72a1fbd4de0c9f0cc996a99ba16&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.24344127040033}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.319700719371375, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.319700719371375, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: 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&#x27;history_values_hash&#x27;: &#x27;bc70c0ed3d2cd827b87e5af68e2e8a4276231916c009ebd8bf718bfa37115e0b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cdeaf431f2be5584b3e2ae370744a56a2d952caca5cf067152351558735425d2&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-21 16:40:18.541000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3f8e464fc2ea511aff3f2211532972247419d85652a5ffeb05a89d36d759efdf:9e022a21ac15d64473108e7aca2b452db05c88d41f897fe5a672ff16933ae16d&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e6fcb750a933926aa482b4228cf30539aae7693ae1b1016e87485ca747fd5865:14f10a7314eaabe2d552edd1d012219ccf2da26d53e24407f93c15751a438db6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3f8e464fc2ea511aff3f2211532972247419d85652a5ffeb05a89d36d759efdf:9e022a21ac15d64473108e7aca2b452db05c88d41f897fe5a672ff16933ae16d&#x27;, &#x27;aib_bronze.equity_ohlcv:4fb5f0507d4c2eae99e9bc851ec67ead6df9128620e153ea6010baddcecc2d62:5c617bba3ce97fc3a25c211ff1a5123720c1fec7beb002b6c5d07b7bc342cd4b&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:e6fcb750a933926aa482b4228cf30539aae7693ae1b1016e87485ca747fd5865:14f10a7314eaabe2d552edd1d012219ccf2da26d53e24407f93c15751a438db6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.64025609079157}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.82%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.8210041785226005, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 1.8210041785226005, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;71d2fc09d692fd61f8bffd09bb989ea3d58e67f995afbdc4ab682a9965012464&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;109bab833a8995c145a713c7695233b2a230a63642bcd026c331c2e163fe4fb3&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f334e81e8d284d4372a6fd97272926859eea9fa5d7e3fdff21098d216b904532&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;b399142783f36ae2c310cad257cf31763cd20be5c52e57c29403fbeb5ce95fab&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6f7f6c27cfd46946315fb3f7ba294d29336d26794ab4903b56f36a5f80162717&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;35281940b90ed5a28af38b5ebbe5a283789f31e2c0b9a9feafce8b8ce17a5a1f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-21 21:03:21.360000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0d6c314d387837ddeef01e997444a38a735058361818ab7c71668d5aa1f2f6ca:ef5d703d725ee9a30cb4eb44795a325ccbd8b9a143e49e9cd28ad9601113dde4&#x27;, &#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:64335bc357bca4ab26ecc8b168db1e50deb0504378a8d3296222feb5488b584e:b9d402ed9414712f36db58ca7021f56b8cdffc51f0e17c5ff9ef01a795f3ccbb&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:e6fcb750a933926aa482b4228cf30539aae7693ae1b1016e87485ca747fd5865:14f10a7314eaabe2d552edd1d012219ccf2da26d53e24407f93c15751a438db6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 90.74078840447636}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Front VIX at 0.91× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.912.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 188, &#x27;epoch_values_hash&#x27;: &#x27;9ecb56e2455acacba9fbb347bcd5d5a92c3d7c59afbfe3e4e1683c8b09183787&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4c0c8deefe5953a41b763cd9a9252c4c7783fbbe01d772fdaa574fa35ab0787f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 565, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d762b424a57d8a04102d027b171fbd96eb02da247c3a292e2f84cf164f4a781d&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 187, &#x27;epoch_values_hash&#x27;: &#x27;ccb684899f4b8fd58614ed086cd445fb3219a085e8f9bfdad1ed8fde8a456de4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5733219e8b9336bb62dd5438d90bf1ee9c47b3d64c09afb023ad9fb34407e94c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 557, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;dba9b57fc3aa9c0635cf85d28f3841a015a21be35b134d6caa4539b9af86ec70&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-21 02:57:10.157000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ed9ec82d6f9d843b2b122096ecc1fd004d71508e21dccd953e72dc28a0e4114d:53a8ab02a295c585a1710dd53e58da9844b6f5e3319c635a7f20a36d234bd9ee&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1fc3bbc90c0e9573e634042642feaeac2bc75ed313549b6782b63e165415eb77:2533305614ddcaae428e6d96ee4121ae984f15c64c2c66eebeaa61f66e98e986&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:aca926542202205bbac07906905e802a09ff6c30d525f45c80a9d9bca8d2f1d1:90216275402672dad9269f342ecbebab0545df780cfee5d883560da3c7ce28b1&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-20&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:568d8d13481926a0c2704ce6cad6c87af48a19e2c574d061137b9766ca93c072:fe37787d9b9a62b8fdc035c6130c8ba55b8f765f0ea510455fa27a594e8bf972&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1fc3bbc90c0e9573e634042642feaeac2bc75ed313549b6782b63e165415eb77:2533305614ddcaae428e6d96ee4121ae984f15c64c2c66eebeaa61f66e98e986&#x27;, &#x27;aib_bronze.equity_ohlcv:568d8d13481926a0c2704ce6cad6c87af48a19e2c574d061137b9766ca93c072:fe37787d9b9a62b8fdc035c6130c8ba55b8f765f0ea510455fa27a594e8bf972&#x27;, &#x27;aib_bronze.equity_ohlcv:aca926542202205bbac07906905e802a09ff6c30d525f45c80a9d9bca8d2f1d1:90216275402672dad9269f342ecbebab0545df780cfee5d883560da3c7ce28b1&#x27;, &#x27;aib_bronze.equity_ohlcv:ed9ec82d6f9d843b2b122096ecc1fd004d71508e21dccd953e72dc28a0e4114d:53a8ab02a295c585a1710dd53e58da9844b6f5e3319c635a7f20a36d234bd9ee&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.9115323854660348}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-21 21:03:13+00:00</li>\n<li>interpretation: Down 4.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.041589901139552, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.041589901139552, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;25e41c5ee7bf4ad19ab6e99e234711359d938e2c5328aa8f945747070b7f0f1a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8b1de6ba4ca7cf81f6a9229e0d1bbc03e41568f8705d36e7ad538beb2e78e7e6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;62c9997702ec5795613d508c44fd184fdd78021efee11678d1c4e3fc918cd557&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;0391cd30934543f8d748a8f3223770304d10e3b3badb8d27a36254e763a7ffab&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9ec1dc5229521eadc3804d52a7689e4fb18561b9f69dad249d91c0d79b97a629&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;613e7b3f97c371c8887e617fac0e2f4d1fbdb83e16e1bc1bfff93efd5099de85&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;b23b13257b68abea024fac1bdd4263ba9c7b77dac2034d478938a925e188ef5d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5aa0f6c9e268335bda4d51811eeace7a1c340d3dfdc05e3342bf9d4acdbba99c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6017d6fa8c799bb49111a5c587980372697c06fcec5c9636cb0eaa3be3b51b0c&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;90dbffc2ded5c803a6a66b9e6b712d969b76e7755c635a4662fc9e8f7bb66f3a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;014fbd617c45f5411a6d23df3dc6fb51677c3d40fee6e0927b07efcbc4165c55&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-21&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;0fefcf83093664dbd8e5bb3f1293cb11ba1ab22a46278731e81d048e17d6d7a2&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-21 21:03:21.360000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d0d04645d28798abd333e9f8803dcfc4fe8784a2ccded5627ddb6c978aa30c29:85296de583ac30cd83b73b12d3aec9f422f86309c16222b8ad27fa104388f46d&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:d0d04645d28798abd333e9f8803dcfc4fe8784a2ccded5627ddb6c978aa30c29:85296de583ac30cd83b73b12d3aec9f422f86309c16222b8ad27fa104388f46d&#x27;, &#x27;aib_bronze.equity_ohlcv:d1ce5a8c9a3f7074b8f9567d12c369d5b859bf85d769f6c9805c96fa39baab13:e5ade2237b5c2b1c6de5d4f18b9ff09ad3da050bd0ff04602de388ba8873c47c&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.58552681820035}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-20 / 2026-10-20 21:49:42+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,003B (conditional on an IPO), -10.30% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $187.; Probability-weighted bucket midpoint: $1,003B.; Seven-day implied-cap change: -10.30%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.295664983164999, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.036000000000000004, &#x27;full_set_prob_sum&#x27;: 0.999, &#x27;implied_cap_change_7d_pct&#x27;: -10.295664983164999, &#x27;implied_cap_usd_b&#x27;: 1003.4722222222221, &#x27;ipo_by_2026_prob&#x27;: 0.046, &#x27;no_ipo_by_2026_prob&#x27;: 0.963, &#x27;volume_24h_total&#x27;: 186.78}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-20</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-20</td><td class=\"num\">108,691</td><td class=\"num\">24</td><td>—</td><td class=\"num\">6.673</td></tr>\n<tr><td>CISO</td><td>2026-10-20</td><td class=\"num\">659,777</td><td class=\"num\">24</td><td>—</td><td class=\"num\">8.408</td></tr>\n<tr><td>ERCO</td><td>2026-10-20</td><td class=\"num\">1,227,867</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-10.52</td></tr>\n<tr><td>PJM</td><td>2026-10-20</td><td class=\"num\">2,086,547</td><td class=\"num\">24</td><td>—</td><td class=\"num\">4.136</td></tr>\n<tr><td>SOCO</td><td>2026-10-20</td><td class=\"num\">539,146</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-3.196</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">49.5</td><td class=\"num\">0</td><td>—</td><td class=\"num\">27.8</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">44.34</td><td class=\"num\">0</td><td class=\"num\">-5.162</td><td class=\"num\">22.64</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">44.42</td><td class=\"num\">0</td><td class=\"num\">-5.078</td><td class=\"num\">22.72</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">82.59</td><td class=\"num\">0</td><td class=\"num\">7.885</td><td class=\"num\">60.89</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">74.71</td><td class=\"num\">0</td><td>—</td><td class=\"num\">53.01</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.401</li>\n<li>as of: 2026-10-20</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.1567</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>415 benchmarked model identities; 245 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 17,058,650,876,245</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 6,422,535,930,336</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,081,246,777,895</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,361,904,076,324</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 998,370,665,144</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 5,374,623,157,629</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,522,721,841,659</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 351 eligible configurations.</p>\n<p>Usage window: 2026-09-21 → 2026-10-20. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-21 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;67f15971049f4fce10b3894cd36be57bb473ffe71b6077d9f5f465383596bd7e&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;5096ce67f26f927320c858eb3b97741519233eb2c9f75fc6a0ca765dcd34d096&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;8c22bb98c9ae40eb25f64fda16ae5fe49d9db6614d1c038b86adb0f7a2bed00e&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-21 21:01:49&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-21 21:01:56&quot;, &quot;record_count&quot;: 1875, &quot;records_hash&quot;: &quot;d32ac758adc336e06be9768c857a20dddc7da4e7b4737667099eb2a37117b4be&quot;, &quot;snapshot_id&quot;: &quot;bfe252937a251ee608a7292ad46ee945bb388c48acc54c9f34dfeb6b739f605f&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;5ba64faa3041568d53ca0c6e1b6fa27b1cd76b570a49fdbb5aabd949cf7c3b1a&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;9ab7904c74bcb942dde770064af75cd510fc14c0fb8d0dd6899dbacb018bafea&quot;, &quot;8d52ab8bcaafabd8b1fec0421483e94298dbc2dfd3c5ce56718e76b1f163841f&quot;, &quot;939c50ffd11be0f490af401545aad93e7afd510eaae8eefdc79bf4821d43f44d&quot;, &quot;0ea32e87a5a0cfc9d9ce86fe76bab922cd5db90ce50acea0ee1938bee7ae881d&quot;, &quot;008dd85c742d0cc47560872433dcdff65907695b41b99225f6a7553d7934150b&quot;, &quot;29296f67e5c0c8af1dec7b4cf0b42c4d4845cf29d0cdc2542174fc213450fed6&quot;, &quot;26a1a0ea03b50b6c01d885ade5356d4d869b4c68a89bebe0672f778085853f59&quot;, &quot;fbb694037dea075adbdd576a434ebe70bca31a75085e98d59c64c59ab8af0ba0&quot;, &quot;0fba8d46b18c9d80697e8781a5334402abff67ae6d93237410ef6a8faa798a4f&quot;, &quot;bc8ad117d49ce956e6a898294fa512a2e109cd79a5df8afa8ae63f754bc6ff9b&quot;, &quot;cd1a79b1e3447f6e7ff65bc91d4fc9340229903b74a80b9b051104a355aee71b&quot;, &quot;35b55d1ffcf58eda87dcde63a182e26ae4e664cd7eef294ce6a826ebe7638235&quot;, &quot;8ec4487e2430c6651b700133c8f4651514f073f06d2b6db1f45fa196e9c95e4a&quot;, &quot;f9dc5f194a70d382d635fb96a7449b22045c704c7c57738cc11695440fd415cd&quot;, &quot;4ee9d8ce79fbd1493201348701e9b35224577f2c5b13d42bf9686a60acb7cea8&quot;, &quot;6d6734fd9f7bc8e5d8b9c0a3b1dc2ca7996124b74eef61838d8bf5eb10e69d9e&quot;, &quot;2c706f79889f000fc669903bdc3bc0ae5f2cbfa48f5dbf2878d63ef1f8ce454f&quot;, &quot;49cddbae1e8ce77e74f2eadba25759482a99fefbb650580cc0d2ac3cd1b8507b&quot;, &quot;2b227e6b08c5f14523d33f39621cbba8b5559a945bd2be00d37ce4032de39b82&quot;, &quot;8bfdb5d5ad1e2d5dd29a0c64406055d40731f4e363b92f054590a38539f27503&quot;, &quot;47ac3a040842f336d90d0385dbab7e9cc90d3be2884dbb7c1a1b557565b2e700&quot;, &quot;791973a9abd91774a4e3eed0b07435a295d3ef8eef1fdee4be3893debb6dbbf2&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-21 21:01:59&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-21 21:02:02&quot;, &quot;record_count&quot;: 795, &quot;records_hash&quot;: &quot;9b8e58bf9c763c7c21e9f420f6a5ba74c53f529161972ab42bcbac6ade3bbb4e&quot;, &quot;snapshot_id&quot;: &quot;64398d5a2600fef193956543f6605c5e5c6c3161bd3bb24f57c1eddc0b8002f9&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;67b16843905047225061a9195c844b0e3f929f20bf1149a0b9083eaf38ef636a&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;192f759f35717c4d6d486dba9c8f85589173b06e7f20904d948ff905ff937731&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-21 21:01:49&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-21 21:01:56&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;17663a5fcfb820c4747e05946d894397843374d4974ef4207a0f813d64860d73&quot;, &quot;snapshot_id&quot;: &quot;7e0d0ac82dfce057c6c30a48d3a3722e38d35ae3157fd046c9809bb639bff620&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;518bd4b0f2468058879759074975c25acbd2bdb5bf010faca931a23884bdcf7a&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;2d6ae0cfb9c1627204ff1772eabdd2974ce5578767123418260ffad500bab568&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-21 01:42:40&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-21 01:42:40&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;d5940aa617991a2de4f2fe7ec8ce1add4219420d024ad9a3290a571e5467756d&quot;, &quot;snapshot_id&quot;: &quot;df454a44c0c98071a6319a3950ac1b858b28f061e4ff61cab4a29407b7676e5d&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">182</td><td>2026-10-21 21:03:56</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-21 05:30:01</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-21 21:01:43</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-21 21:01:43</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">3</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-21 21:01:56</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-10-21 23:10:34</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-21 23:03:29</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-21 21:03:56</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-21 21:01:44</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">140661</td><td>2026-10-21 21:01:43</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">118</td><td>2026-10-21 21:01:42</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-21 23:02:53</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1792623779</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-21 21:01:44</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">469</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">649</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">10</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1875</td><td>2026-10-21 21:01:44</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">795</td><td>2026-10-21 21:01:44</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-21 21:01:44</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-21 21:01:44</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-21 21:02:41</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-21 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-21 21:01:44</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-21 21:01:43</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-22T05:10:09Z",
      "id": "urn:prexel:issue:46bb2b5c-6493-5d4f-928e-3f176c1f0ef9",
      "summary": "Prexel daily — period ending 2026-10-21. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 51 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-21-daily-4a932de8d08e.html"
    },
    {
      "_prexel": {
        "content_hash": "b736a42eaa764356ab06fc25c15dfb9b83940902834ced30fa95eeecbade874b",
        "context_hash": "05bd35303dcddac2d1c79aaf58485bc5ad70857cfa02fd8742f035b61b44715d",
        "kind": "daily",
        "period_end": "2026-10-20"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 50 (daily)</h1>\n<p>Period: 2026-10-20 → 2026-10-20</p>\n<p>Context hash: <code>05bd35303dcddac2d1c79aaf58485bc5ad70857cfa02fd8742f035b61b44715d</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ◆ Mixed — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Utilities vs S&amp;P 500: ◆ Mixed — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>H100 spot rental price: ▼ Bearish — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-20T04:07:53.743143+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 12 bullish, 10 bearish, 10 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-19 19:44:57+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=3.537941953269587; b200_h100_ratio_change_14d_pct=0.23738876340428586; b200_offered_usd_hr=8.496302083333333; band_measured_pct=23.738876340428586; band_pct=5.0; h100_spot_usd_hr=2.4014814814814813</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 3.537941953269587, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.23738876340428586, &#x27;b200_offered_usd_hr&#x27;: 8.496302083333333, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 23.738876340428586, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 23.738876340428586, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.4014814814814813}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-19 19:44:57+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-19 19:44:57+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.02853258855514088; h100_depth_smoothed_3d=35.75; h100_dispersion_smoothed_3d=1.8334101438522339; h100_price_change_14d_pct=-0.10044393236048899</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.02853258855514088, &#x27;h100_depth_smoothed_3d&#x27;: 35.75, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.8334101438522339, &#x27;h100_price_change_14d_pct&#x27;: -0.10044393236048899}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-19 19:44:57+00:00</li>\n<li>interpretation: H100 spot rental prices are softening.</li>\n<li>evidence: band_measured_pct=-16.322528813223858; band_pct=8.0; h100_spot_usd_hr=2.4014814814814813; spot_trend_30d_pct=-0.16322528813223858</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -16.322528813223858, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -16.322528813223858, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.4014814814814813, &#x27;spot_trend_30d_pct&#x27;: -0.16322528813223858}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:05:23+00:00</li>\n<li>interpretation: Up 5.6% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 5.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.608485249778594, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 5.608485249778594, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3235739323, &#x27;total_tokens&#x27;: 240151808080766}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:05:24+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.18pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.1821368594806927, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.94524454141083, &#x27;top10_share_change_14d_pp&#x27;: 0.1821368594806927}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:05:24+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 11 cuts, 11 raises.; Fixed-basket price at prior-day token weights: $0.668/Mtok.; Seven-day like-for-like change: -9.05%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -9.047537021684915, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 351, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6681402258015646, &#x27;like_for_like_change_7d_pct&#x27;: -9.047537021684915, &#x27;price_cut_model_count&#x27;: 11, &#x27;price_raise_model_count&#x27;: 11}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:05:24+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -8.89%.; Token-weighted effective price: $0.671/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.890323829441416, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -8.890323829441416, &#x27;effective_price_usd_mtok&#x27;: 0.6705381533157636, &#x27;matched_model_count&#x27;: 351, &#x27;total_standard_tokens&#x27;: 149982214431289, &#x27;unmatched_token_share&#x27;: 3.2313094437682577}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-19 07:47:26+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +152.7%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.71966527196653, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 152.71966527196653, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:05:24+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +4.42pp.; Open-weights share of routed standard tokens: 72.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 4.418850027325718, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 3.915236166256534, &#x27;chinese_lab_token_share&#x27;: 69.36885217578717, &#x27;matched_model_count&#x27;: 351, &#x27;openweights_share_change_14d_pp&#x27;: 4.418850027325718, &#x27;openweights_token_share&#x27;: 72.37076972454649}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:05:35+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $45.15/MWh vs prior 14-day $53.91/MWh (-16.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -16.254749262366587, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 45.14661773809524, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.90946631652661, &#x27;caiso_da_trend_pct&#x27;: -16.254749262366587}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:05:35+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.07 MMBtu/MWh vs prior 14-day 17.59 (-20.0%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -20.020121953461796, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.068170373923593, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.589637190666497, &#x27;caiso_heat_rate_trend_pct&#x27;: -20.020121953461796, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:05:35+00:00</li>\n<li>interpretation: PJM total load growth exceeds the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +9.25% vs control mean +6.27% (gap +2.98pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 2.9825858483233754, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 10.526597236944907, &#x27;dc_load_premium_pp&#x27;: 2.9825858483233754, &#x27;erco_load_yoy_7d_pct&#x27;: 2.014786490421642, &#x27;pjm_load_yoy_7d_pct&#x27;: 9.25327771200665}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:05:25+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +20.59% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 20.586397864169918, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 20.586397864169918, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Down 16.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -16.68%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -16.682753336916754, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -16.682753336916754, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;16645c9400d8f6c806bd9472ac98d0c7be203909aae4e8ff00382870f95830da&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;, &#x27;aib_bronze.equity_ohlcv:f3a99979f233bda5ef0ee2b240e58a0f261142fe60d57ae9d0cea952f8fb5adf:d6b7fcf6ed53ec0d55766aa18039357acc5b4f4f00774178ce6c4af2f67dd226&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 49.27382330252655}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: PJM load z-score is withheld: the 28-day weekday baseline has at most four observations.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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&#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;, &#x27;aib_bronze.equity_ohlcv:d3839020b98461c04e9bf7e185545a632ab34fabd1120bb52260e82afde3b855:017d44fc151876acbac82a89f75e90abe57a24dd563c9761fbc1704471c806d6&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.87826005764288}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.67%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.6748300412149577, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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04:06:44+00:00</li>\n<li>interpretation: Down 28.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -28.48%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -28.481977710018892, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -28.481977710018892, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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5.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.57%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.57418475952931, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -5.57418475952931, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 126.19497067909218}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.30%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.30219815954727336, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.30219815954727336, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;JAAA.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;4548fc07449659b3408233ddd4e53f40048528e111bf7172218e16f270418afe&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b2c3ea53fbd076c6af04ce9e26632290537ae91c4d4a742f0af4bd611cb9f30b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: 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&#x27;aib_bronze.equity_ohlcv:614b0877f290711c24cf9290527fdcb13d2245508440734aad72a8b85dd3e2d8:422d27185c2fb1ead818581718169e37347440a2f350ce0cb18a27a23804fdf1&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:15ce4c8cb2f9fd0c3c08fc58b0bcf9fdc7028fc6c6c64e6f8c05b1d2fea07f75:8e1bfbd73f95f5318775aa3f27e13707fc11343ccf31733a13dc5886919e92c2&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:17326910b2801ba536df2d03b708ee677ca544105b241d317f91023eece7526d:7eb29c6564f186c089bdcaf6d22684ef02e66cd62f76721fb1a5c730e90bcb70&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:15ce4c8cb2f9fd0c3c08fc58b0bcf9fdc7028fc6c6c64e6f8c05b1d2fea07f75:8e1bfbd73f95f5318775aa3f27e13707fc11343ccf31733a13dc5886919e92c2&#x27;, &#x27;aib_bronze.equity_ohlcv:17326910b2801ba536df2d03b708ee677ca544105b241d317f91023eece7526d:7eb29c6564f186c089bdcaf6d22684ef02e66cd62f76721fb1a5c730e90bcb70&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:614b0877f290711c24cf9290527fdcb13d2245508440734aad72a8b85dd3e2d8:422d27185c2fb1ead818581718169e37347440a2f350ce0cb18a27a23804fdf1&#x27;, &#x27;aib_bronze.equity_ohlcv:94de2a855abc370e9ba0ee2eb69cdd291566314aeef3f8f431319fd6eff0e0a6:a847662c9e06385a094f0fae5db9ceeab76aeae461925d42f79c21b1631cd6ac&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.25046501041199}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Down 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, 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&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:46d1c11356c07f4e7ed708cbab616c0448b7a8ddefae0cf32c4ff8dfa93ef938:96236db8e93a9bb1cca4d852e63221f001bb01da0b6a22e450f13eb509b3258d&#x27;, &#x27;aib_bronze.equity_ohlcv:52cfcc46f24533d956647caf9ee6959284277ab3a47f3477691323db409abf29:fab3aab2629805f6954edbc5f5f85657867200d18b6ca3278012d886f5507cfa&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:909229fd513924502d6733b342707713e767568032be9f016831dda9c39ba949:ed89e89add11000ecd604ea84e0032d17d1762e0dda39c1043e2d789480865b0&#x27;, &#x27;aib_bronze.equity_ohlcv:f07daab7516acbba289d703154de7b22a020d0f6db90d80832efaf1316ca13d2:bb0e103c72a46f89854ae589da443a7ecb398a1981db2aaa54d50d33be95215c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.56572673723447}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Up 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.37297532070927897, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.37297532070927897, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;9e4d0a89b0d167d503e768c2e6f7f01894dad212db4aa04650be4e79f1e0dfae&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;47b34501172063119ed46780365436896779b673650caba07bc4f99d6b2b369f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5815a8ef6e24620334ee27cbb0766c4843f5663cb47f3826d95bf75d9996a13d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;b36f3b70738cea891a1acde120193a67ebd0e5c53f42971880ccd5fba5958c20&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;930da66f51e08fb51ee9ad7db8477662e6ea23ef2d0c84223c306cbd37d61976&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;159883ed95821f8658c5c9c9a56e250dc0d4a34afc6cca50507b1dde6b23c5df&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-20 04:06:51.927000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fa32dfe7d5a8ad9c5bfa21b9b026a3427a5b8b6e9f9897a5e219577fbb90e456:8d4120383923c8afee5b47b3d0e00224c195e72a1fbd4de0c9f0cc996a99ba16&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1cad764645cad6cb97b75f724c966a0c04813c8b3eafa041c172955586fc7977:802e15a61055b921c70ce6b4797c8caa215cd208fcc88a5b72fcffa620a02ebd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1cece94635f0475771429b001d0496e11010a13c9cb12c07e0621235f781edda:37ddef2492df1322bbbf871f2a58ad69dbf51048321a92b943ee11d54a38a964&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;aib_bronze.equity_ohlcv:1cad764645cad6cb97b75f724c966a0c04813c8b3eafa041c172955586fc7977:802e15a61055b921c70ce6b4797c8caa215cd208fcc88a5b72fcffa620a02ebd&#x27;, &#x27;aib_bronze.equity_ohlcv:1cece94635f0475771429b001d0496e11010a13c9cb12c07e0621235f781edda:37ddef2492df1322bbbf871f2a58ad69dbf51048321a92b943ee11d54a38a964&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:fa32dfe7d5a8ad9c5bfa21b9b026a3427a5b8b6e9f9897a5e219577fbb90e456:8d4120383923c8afee5b47b3d0e00224c195e72a1fbd4de0c9f0cc996a99ba16&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.39106896626998}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Down 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.91%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.9083659785413367, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.9083659785413367, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;9e4d0a89b0d167d503e768c2e6f7f01894dad212db4aa04650be4e79f1e0dfae&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;47b34501172063119ed46780365436896779b673650caba07bc4f99d6b2b369f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5815a8ef6e24620334ee27cbb0766c4843f5663cb47f3826d95bf75d9996a13d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;3410315aacc44ab6ac64361a48256678fc09145f985addf4292ce4ded2680cee&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecd1e64294ee0a1b80febf35d9d9e84648c590eb56e2becd07a108c448df30d0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;741a209017990e80139465aebfe68b2ec780745e7eee60f300a3dbfb6cd63fc3&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-20 04:06:51.927000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3f8e464fc2ea511aff3f2211532972247419d85652a5ffeb05a89d36d759efdf:9e022a21ac15d64473108e7aca2b452db05c88d41f897fe5a672ff16933ae16d&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1cad764645cad6cb97b75f724c966a0c04813c8b3eafa041c172955586fc7977:802e15a61055b921c70ce6b4797c8caa215cd208fcc88a5b72fcffa620a02ebd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bcac69edcfe81b89ad89af2bf92908dda17bdae46273af94f633bb5eee7ac893:86c95afba953ef562ec6a5325365b23042235cbd7b5f770e74436cc63e7d3ca9&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;aib_bronze.equity_ohlcv:1cad764645cad6cb97b75f724c966a0c04813c8b3eafa041c172955586fc7977:802e15a61055b921c70ce6b4797c8caa215cd208fcc88a5b72fcffa620a02ebd&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3f8e464fc2ea511aff3f2211532972247419d85652a5ffeb05a89d36d759efdf:9e022a21ac15d64473108e7aca2b452db05c88d41f897fe5a672ff16933ae16d&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:bcac69edcfe81b89ad89af2bf92908dda17bdae46273af94f633bb5eee7ac893:86c95afba953ef562ec6a5325365b23042235cbd7b5f770e74436cc63e7d3ca9&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.07226570354548}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Up 0.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.84%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.8423260083192163, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 0.8423260083192163, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;9e4d0a89b0d167d503e768c2e6f7f01894dad212db4aa04650be4e79f1e0dfae&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;47b34501172063119ed46780365436896779b673650caba07bc4f99d6b2b369f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5815a8ef6e24620334ee27cbb0766c4843f5663cb47f3826d95bf75d9996a13d&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;2219e8b83903a8db3c89621b24963649bdff3193a51b39a1a719d00025b32df4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a80efc9e45245362179b97ce6c9c7ecbc7afd7a1854054c0cda1c312f06adc15&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a108642a173a5deb37697fbd038c33a0abc0293c4916534751205cfc84daf913&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-20 04:06:51.927000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d6c314d387837ddeef01e997444a38a735058361818ab7c71668d5aa1f2f6ca:ef5d703d725ee9a30cb4eb44795a325ccbd8b9a143e49e9cd28ad9601113dde4&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1cad764645cad6cb97b75f724c966a0c04813c8b3eafa041c172955586fc7977:802e15a61055b921c70ce6b4797c8caa215cd208fcc88a5b72fcffa620a02ebd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2549bfab9c0011c76025f0178f9b6d5570502036698f102144f78f362fa38d68:e2a498ea6fc114582213544d10d2a1f4000e6a5cbb878c07d3f0d95e820825c2&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0d6c314d387837ddeef01e997444a38a735058361818ab7c71668d5aa1f2f6ca:ef5d703d725ee9a30cb4eb44795a325ccbd8b9a143e49e9cd28ad9601113dde4&#x27;, &#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:3e5b13f541efa4c58d631cd14c07b308b36fd05df26a1ff14a12b931905c3c24&#x27;, &#x27;aib_bronze.equity_ohlcv:1cad764645cad6cb97b75f724c966a0c04813c8b3eafa041c172955586fc7977:802e15a61055b921c70ce6b4797c8caa215cd208fcc88a5b72fcffa620a02ebd&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2549bfab9c0011c76025f0178f9b6d5570502036698f102144f78f362fa38d68:e2a498ea6fc114582213544d10d2a1f4000e6a5cbb878c07d3f0d95e820825c2&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 89.86861051274391}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Front VIX at 0.94× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.941.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 186, &#x27;epoch_values_hash&#x27;: &#x27;900f56b48248dde186710f12092e3122caa3def023ac834875e1dc4ed1b3b916&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b22b5175223bc78a8841f92ca8d0e5a2eeb2e4f6d7913702d61f240318badce0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 563, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;174c327266bc7a016c7de8c096578ff41b510d8bc6225d0da8f6a9bb387ed895&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;0c42bd128bb861ea106d6a1b259cfca3c515804d2d2a862c0a3c0d97feefb7c7&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7473821642dc6c1619e19fbcc69326fcab72e47e467056804ed4343e0f9409a0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 555, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;49d2c7dea496654bc74b165eb8048c06b18753d5d239fce071954f9cee4d39c2&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-20 04:06:51.927000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ed9ec82d6f9d843b2b122096ecc1fd004d71508e21dccd953e72dc28a0e4114d:53a8ab02a295c585a1710dd53e58da9844b6f5e3319c635a7f20a36d234bd9ee&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1fc3bbc90c0e9573e634042642feaeac2bc75ed313549b6782b63e165415eb77:2533305614ddcaae428e6d96ee4121ae984f15c64c2c66eebeaa61f66e98e986&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e6529e82d8130852964f95c979981edd89a8841d87c170503270dce36ab93af:2876baae38715ad531c9158cb2e23e8c56818dbe6704a151dd5e1ad05dbba847&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:272f0cda6fcb88dae928ac84bfd5e087ff66a03cdfec90a16379a1b08eec50c0:4f482bcb23d4d07ed6f4bc8178893e87845fee27996444957001c4792d48a6aa&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1fc3bbc90c0e9573e634042642feaeac2bc75ed313549b6782b63e165415eb77:2533305614ddcaae428e6d96ee4121ae984f15c64c2c66eebeaa61f66e98e986&#x27;, &#x27;aib_bronze.equity_ohlcv:272f0cda6fcb88dae928ac84bfd5e087ff66a03cdfec90a16379a1b08eec50c0:4f482bcb23d4d07ed6f4bc8178893e87845fee27996444957001c4792d48a6aa&#x27;, &#x27;aib_bronze.equity_ohlcv:6e6529e82d8130852964f95c979981edd89a8841d87c170503270dce36ab93af:2876baae38715ad531c9158cb2e23e8c56818dbe6704a151dd5e1ad05dbba847&#x27;, &#x27;aib_bronze.equity_ohlcv:ed9ec82d6f9d843b2b122096ecc1fd004d71508e21dccd953e72dc28a0e4114d:53a8ab02a295c585a1710dd53e58da9844b6f5e3319c635a7f20a36d234bd9ee&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.9408163265306122}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-20 04:06:44+00:00</li>\n<li>interpretation: Down 4.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.1477671808236245, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.1477671808236245, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;1840541a21dd5e1d705db2713752165e9f733a01113f21f4d80996c77de2eafb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;af256af4e00c9de995bd43ed1853f37c93b0155f8a1246f0e1920d6083d19f83&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;74c6dbbda3903d8a8132bb9df24151fa3df1336c7b728c08259e51ac51d1c78c&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;6275d1f6a40c8e191b9f21ca5a545a6e1324899d01b30c513dbe45bb19847c6a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cc44634d70b495d6b06b447428821a2e81969787aaa48ebc99144b61804684c2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4e61fc2fc134725a3ab3765e57752e4707a289c9d9a5c008406e3728a2224b01&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;1ec729982289c2c4b91bbf0e01e66dbefc2e062c00d1639d55722d3dc3a8c274&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;39080a277e50134cebdf9c46e4272f7b0230f5193fcce95b15717fa7a450de45&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;60230f9cdaf87a9c4aeb42869115b53864dd413b5fee48bddbef4a2d2659f392&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;12bf038423f23c4b491e97b9720cb002ff49e0d8b13cb9f4b9d1d48a081a9241&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b414fa37fc11e913533dfa67cbdee56f7aa080ae8e0e562ca45b216ac471f62c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e4dc22f39a59e94bb6e84337594f28367ab8a57ef10a64726bce1a665cbcc749&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-20 04:06:51.927000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d0d04645d28798abd333e9f8803dcfc4fe8784a2ccded5627ddb6c978aa30c29:85296de583ac30cd83b73b12d3aec9f422f86309c16222b8ad27fa104388f46d&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:ce883bb01047f5ce69d98df2be4dacd8c314a580ff9127865c2e211d3d612172:7428bb90ed2b9c66117def6b5f704878007f3110ab329f6a2f697804a3c6313e&#x27;, &#x27;aib_bronze.equity_ohlcv:d0d04645d28798abd333e9f8803dcfc4fe8784a2ccded5627ddb6c978aa30c29:85296de583ac30cd83b73b12d3aec9f422f86309c16222b8ad27fa104388f46d&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.47091018959149}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-19 / 2026-10-19 19:39:56+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,031B (conditional on an IPO), -7.34% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $210.; Probability-weighted bucket midpoint: $1,031B.; Seven-day implied-cap change: -7.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.339851160075872, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0385, &#x27;full_set_prob_sum&#x27;: 1.0050000000000001, &#x27;implied_cap_change_7d_pct&#x27;: -7.339851160075872, &#x27;implied_cap_usd_b&#x27;: 1030.844155844156, &#x27;ipo_by_2026_prob&#x27;: 0.0425, &#x27;no_ipo_by_2026_prob&#x27;: 0.9665, &#x27;volume_24h_total&#x27;: 209.5}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-19</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-19</td><td class=\"num\">114,098</td><td class=\"num\">24</td><td>—</td><td class=\"num\">15.66</td></tr>\n<tr><td>CISO</td><td>2026-10-19</td><td class=\"num\">643,099</td><td class=\"num\">24</td><td>—</td><td class=\"num\">9.538</td></tr>\n<tr><td>ERCO</td><td>2026-10-19</td><td class=\"num\">1,179,870</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-7.606</td></tr>\n<tr><td>PJM</td><td>2026-10-19</td><td class=\"num\">2,079,250</td><td class=\"num\">24</td><td>—</td><td class=\"num\">7.078</td></tr>\n<tr><td>SOCO</td><td>2026-10-19</td><td class=\"num\">553,522</td><td class=\"num\">24</td><td>—</td><td class=\"num\">2.028</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">46.65</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">43.29</td><td class=\"num\">0</td><td class=\"num\">-3.356</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">42.59</td><td class=\"num\">0</td><td class=\"num\">-4.054</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">69.37</td><td class=\"num\">0</td><td class=\"num\">8.706</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">60.66</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.401</li>\n<li>as of: 2026-10-19</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.1632</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>414 benchmarked model identities; 244 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 15,795,252,871,840</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 6,004,903,880,909</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,138,488,413,990</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,392,496,188,591</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 855,837,425,154</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 5,035,255,473,633</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,472,676,393,522</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 351 eligible configurations.</p>\n<p>Usage window: 2026-09-20 → 2026-10-19. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-20 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;2c2c837418e10a5c7ec379ca7b4844067352525e20b870cad0ece633cb4c6988&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;8057f19e9aaee2e2cc6dc77a5a9ca7cfd5dc4a6b3d9035c818353143a7d8ec3f&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;9abf047b02e26a7574481c592b59c9bb20c98fa5caf52e51b036230c7d1b8095&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-20 04:05:25&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-20 04:05:33&quot;, &quot;record_count&quot;: 1867, &quot;records_hash&quot;: &quot;549d6774c6c1671ee72ffa2c711319927c47a72c6dc5b8c3909a8293bd4b8d12&quot;, &quot;snapshot_id&quot;: &quot;25a61bdeec8e89057afb319089cc23679d80f9fb53e11b5ce0d02c9bc0acc12a&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;615cca7502abd0847a426ccaf334c92a7b285ffc20eea4d1e4a1bc865ab73ec9&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;a20e6d7fdbce087d567c01b196186e7d9f2720d0f6e06bfb575177320079801b&quot;, &quot;9a8de6620f0178ec123ba52b3267edf65bb6b843b36f6dcd4800f6e070d8cf98&quot;, &quot;7db1a613fb56298f0b32f9a4e6f94262dba3a035765c4f94837dab3af2d6d9bf&quot;, &quot;b51d252f23d02cf414771ac512fadcb63d1f2b1cc8ca2c3afe4c5d4f8b0e8dca&quot;, &quot;2c117d212e03e4cfa11946a941bc5671a3bb852c3e20789166ce8247ff50337a&quot;, &quot;a6c546049bf806f6e50bd4a1e19fced3da6dea972f94e17dc9ce912f594cead7&quot;, &quot;a2324b80bc656a7adfc1ae310227877561e65c6ee8c03a0a8aeef36bb17b1dc6&quot;, &quot;a7a3008cefb10e5307134c8ae2542655fa64fb19160ff1fe499ef47c8ff6bac2&quot;, &quot;600db5f8260156294cb4bf717586840513cb0ae81c0a0bb5aa960f402ca28ff2&quot;, &quot;4acd8e9f6a3389930ee311cee13da35debcf59531d0fa409da220f0ec3a0e6af&quot;, &quot;d0cf671b34600e7eb3a1b1c5fd902139da132175d50ef32f3a54c28ab3593945&quot;, &quot;4f93b995e1e60ad989362c313895a9af0675eeb3894503875ce01528a9d9183b&quot;, &quot;ff886e71b3db98ea4cadb76786aa174962363c960e4a8e7cbd9e8fa4b5c723a7&quot;, &quot;3848c199891aaabdd8fb2a7a95e961e134e2bb400343dde8bb7266355359117e&quot;, &quot;1558821e1a9f0b075fd35f42028d601ac346a58ed1d389a816077b4710fde8db&quot;, &quot;014bb30ea958a394badf795b0011d793b1644159bc47e16e7010b30b4685231b&quot;, &quot;bf1d86f28e07bd6a2f432278630f4f81b3905b07a2a1fbdbf389fc3ae87f137a&quot;, &quot;1cb96f94e8d031bb81f95087b062509b614b18637aaf2faa2800b0134d2b463d&quot;, &quot;c4f3db2f576a15ea3fc291b1e9598b4d152937eb6916ec907335e800baab9dd7&quot;, &quot;7079c134129a43206a62e4311d2a9b4a0cf4724f7989c2b733678ddb9416b5db&quot;, &quot;509802f553e319cae6c3223b8af2d9c35ca5401d3b0d6c10f62709927caa5ee9&quot;, &quot;e0161e991847e951fc13b93ca0ce392f0ca74f702599f675bd9fe3ee906ea6bc&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-20 04:05:34&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-20 04:05:40&quot;, &quot;record_count&quot;: 791, &quot;records_hash&quot;: &quot;0eeb251875abb6cfc555e94a0d29f5f6cf57310ce2613d7570a9454c5d21ac5b&quot;, &quot;snapshot_id&quot;: &quot;484c31871dc0b19d360fb47c56fd2d4b47799432938ed4c18f99dcf09f9c96a0&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;6f72d03d4bb1e5683ed01bbacffb2d138f1f1d93f0c9923c49187664be7c07cb&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;72f837190e9bb9a5ba4d92557fcf39e85ee04f05de22a62bd5e25bb5c7fab5e2&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-20 04:05:25&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-20 04:05:33&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;397168afda4906def90bc2f29595c5d6c0c030787372c549870b471cdfa943e1&quot;, &quot;snapshot_id&quot;: &quot;4e1d2ff7c3a3bf1c6232c5b2593f6ebdc4c5a20d532b66258c7fc8cbd374300e&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;1b90eb4ab40710c24468073df64733d09a50ee70a6e8e4ae2496aa719adbe848&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;8c9abf7562eaca15567302718c7c951d798b647873e95cf4dd99ccd559bfdaf5&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-20 04:05:25&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-20 04:05:32&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;3b3a0a65ecea1dcc4ab419fdc6009cb5d681e80b7bd39be2dfd456e2d3a93d05&quot;, &quot;snapshot_id&quot;: &quot;b0ed483799bdca9ace2d4c2930204f3f7c4fdf3f28ebae61a861fea4937625a2&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-20 21:49:42</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">182</td><td>2026-10-20 04:07:24</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-20 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-20 04:05:21</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-20 04:05:21</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">9</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-20 04:05:33</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">298</td><td>2026-10-20 23:54:33</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-20 23:06:52</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-20 04:07:24</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">140156</td><td>2026-10-20 04:05:21</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">125</td><td>2026-10-20 22:24:24</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-20 23:54:51</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1792540496</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">470</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">652</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1867</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">791</td><td>2026-10-20 04:05:22</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-20 04:05:22</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-20 04:05:36</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-20 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-20 04:05:21</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-21T05:10:10Z",
      "id": "urn:prexel:issue:d5887905-701e-51b8-9b28-8e568e1c2005",
      "summary": "Prexel daily — period ending 2026-10-20. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 50 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-20-daily-b736a42eaa76.html"
    },
    {
      "_prexel": {
        "content_hash": "375d7f7ba3ba6054dcc489ba5ad2995ad4cef5f6754e48bccd366c1fe81ae157",
        "context_hash": "42ab1e16c639c383372aefceffdeff4dce50c24bc997e93457ba9d8bb06cec4f",
        "kind": "daily",
        "period_end": "2026-10-19"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 49 (daily)</h1>\n<p>Period: 2026-10-19 → 2026-10-19</p>\n<p>Context hash: <code>42ab1e16c639c383372aefceffdeff4dce50c24bc997e93457ba9d8bb06cec4f</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ◆ Mixed — US equity breadth relative to capitalization-weighted equities (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Utilities vs S&amp;P 500: ◆ Mixed — utilities repricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>VIX term structure: ◆ Mixed — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>H100 spot rental price: ▼ Bearish — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Evidence revised; cause unclassified. Published 2026-10-19T04:01:20.052808+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-19T07:49:53.781120+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence revised; cause unclassified. Published 2026-10-19T07:49:53.781120+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence revised; cause unclassified. Published 2026-10-19T07:49:53.781120+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-10-19T07:49:53.781120+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-10-19T07:49:53.781120+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 12 bullish, 9 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-18 21:58:05+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=3.6450795778344327; b200_h100_ratio_change_14d_pct=0.25010726690306767; b200_offered_usd_hr=9.001996527777777; band_measured_pct=25.010726690306768; band_pct=5.0; h100_spot_usd_hr=2.4696296296296296</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 3.6450795778344327, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.25010726690306767, &#x27;b200_offered_usd_hr&#x27;: 9.001996527777777, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 25.010726690306768, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 25.010726690306768, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.4696296296296296}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-18 21:58:05+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-18 21:58:05+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.02853258855514088; h100_depth_smoothed_3d=35.75; h100_dispersion_smoothed_3d=1.6965895891189575; h100_price_change_14d_pct=-0.0749167398179735</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.02853258855514088, &#x27;h100_depth_smoothed_3d&#x27;: 35.75, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.6965895891189575, &#x27;h100_price_change_14d_pct&#x27;: -0.0749167398179735}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-18 21:58:05+00:00</li>\n<li>interpretation: H100 spot rental prices are softening.</li>\n<li>evidence: band_measured_pct=-11.438133701708598; band_pct=8.0; h100_spot_usd_hr=2.4696296296296296; spot_trend_30d_pct=-0.11438133701708597</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -11.438133701708598, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -11.438133701708598, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.4696296296296296, &#x27;spot_trend_30d_pct&#x27;: -0.11438133701708597}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-19 07:47:25+00:00</li>\n<li>interpretation: Up 6.2% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 6.21%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.207500322970594, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 6.207500322970594, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3185849742, &#x27;total_tokens&#x27;: 237312302464590}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-19 07:47:26+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.21pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.21118803243379602, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.96048668797565, &#x27;top10_share_change_14d_pp&#x27;: 0.21118803243379602}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-19 07:47:26+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 11 cuts, 4 raises.; Fixed-basket price at prior-day token weights: $0.673/Mtok.; Seven-day like-for-like change: -8.09%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.092783094921074, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 351, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.673184895697996, &#x27;like_for_like_change_7d_pct&#x27;: -8.092783094921074, &#x27;price_cut_model_count&#x27;: 11, &#x27;price_raise_model_count&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-19 07:47:26+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -6.88%.; Token-weighted effective price: $0.667/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.88113911655911, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -6.88113911655911, &#x27;effective_price_usd_mtok&#x27;: 0.6673022874663767, &#x27;matched_model_count&#x27;: 351, &#x27;total_standard_tokens&#x27;: 153354496922343, &#x27;unmatched_token_share&#x27;: 3.0151776263805923}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-18 04:01:15+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +152.7%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.71966527196653, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 152.71966527196653, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-19 07:47:26+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +21.18pp.; Open-weights share of routed standard tokens: 72.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 21.179724130511524, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 20.06768619043367, &#x27;chinese_lab_token_share&#x27;: 70.14674869690771, &#x27;matched_model_count&#x27;: 351, &#x27;openweights_share_change_14d_pp&#x27;: 21.179724130511524, &#x27;openweights_token_share&#x27;: 72.85146889021367}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-19 07:47:48+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $44.73/MWh vs prior 14-day $53.79/MWh (-16.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -16.853107672422887, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 44.72761392857143, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.79348845938375, &#x27;caiso_da_trend_pct&#x27;: -16.853107672422887}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-19 07:47:48+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.01 MMBtu/MWh vs prior 14-day 17.54 (-20.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -20.120968918261685, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.013121799107973, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.542929113359772, &#x27;caiso_heat_rate_trend_pct&#x27;: -20.120968918261685, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-19 03:59:43+00:00</li>\n<li>interpretation: PJM total load growth exceeds the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +9.25% vs control mean +7.15% (gap +2.10pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 2.0966960713338203, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 9.70628833910317, &#x27;dc_load_premium_pp&#x27;: 2.0966960713338203, &#x27;erco_load_yoy_7d_pct&#x27;: 4.602956418227831, &#x27;pjm_load_yoy_7d_pct&#x27;: 9.25131844999932}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-19 07:47:48+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +20.78% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 20.784346219927478, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 20.784346219927478, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Down 14.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.21%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.21098220588678, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.21098220588678, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;d7411ac5e2cf4723612777fcbe4364f9e146e6fc40d2c5b16c586d263863f658&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 50.256571080249834}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: PJM load z-score is withheld: the 28-day weekday baseline has at most four observations.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Down 3.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.17%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.17065188659135533, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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07:48:42+00:00</li>\n<li>interpretation: Down 26.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -26.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -26.413262562711417, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -26.413262562711417, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Up 3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.5781423782425215, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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2.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.3592178233965644, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.3592178233965644, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:47ae4e58d09a7c58e7a82b231557f001ec135b0028acbe2c50c6a375235e0629:f935204b5feb3ef515245696061095e948714d0d8e4b12972029f0b1a68f88c3&#x27;, &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;aib_bronze.equity_ohlcv:f8e90bf70ad442b47a35a4e4dca62c3c7a768db489745d45b922144ea68fcfd7:26015141fa7557d83ce8cddcf9ea844d6b251c09761c914a09625e3f48438124&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 124.70562024703537}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:041d59515ced490c8df0aa16851d7c839a92450990e1ba776aab3c9eb6dd6005:da7414b289a72e61b9556d4f003b0decfe1aa1d0bf6a25f253f8da0c4b5d8336&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:741c26d9a7edcb62b3cc51fff2bbfd10fd992e0d531d9ff274c268959c9c03f8:2de22a9a58da9fa0df551ff603716470cac3335e36a28b419a010a07ba41b01a&#x27;, &#x27;aib_bronze.equity_ohlcv:76f77efcf02c11812af5e0d1d04d11f79e029446d7645169d251dc9e5fba2e74:abece2c4faa58d91bbdcfcf7a3039b2d55cbcafcfcc484b7b16aea0e9ec7471f&#x27;, &#x27;aib_bronze.equity_ohlcv:8e68e9312cfc5a47fdb5ba5408c92da3568c195861e584f70e8364057f8b17a8:8cbfaee73e3bdcef444d6e9a3d00c5608a5b561d7b8c6807ba2c90e41e45dcb5&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.28060338183286}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Down 1.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.98%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, 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&#x27;76127348ca5fdedc2f52becfa8ab098f9944ef9eea883c8c3c26b0d37ed90c2b&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;4a594e8014de470819b1b21658157ba06b4feb2318a8b98d507fe4d40379ccbd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;aeb4b7601ab42cb6ad06ebb812b1a750c2a86cd18f7dfefad92cd7b8d9e3a439&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;35ec390be4b9fb3fcfb3cbde57705834b2716a212ed00f74cf48465ee88c3434&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, 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&#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9548316720d05f535bcd088e9464f4570d43e8a1bc952d731b25e347ce870d14:b0b363a2fb3314b9ef2f3b4c3d3e222e1594adc88cf1c8a8f0072f687dea3d4a&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:80e98d71a026c99be36bd3a503c92c5a2a59d10e932e21c2562fcc804c16085c:1a0af68257a9ea5c510dacca4a3f3288ad970fc52e32313bd03263792b16a648&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:48a6759187e1b6dbf9703934a901a450040711b7a3174fa60b3c7405480889bd:c88b6945dcbaebb1344e7f66675bc8fe0687b1fbba35f59ae9f1fd61afd0bbf6&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:80e98d71a026c99be36bd3a503c92c5a2a59d10e932e21c2562fcc804c16085c:1a0af68257a9ea5c510dacca4a3f3288ad970fc52e32313bd03263792b16a648&#x27;, &#x27;aib_bronze.equity_ohlcv:92e045ed46ecba4d52791cdb262536f22a1a8b563a93922a573342b22a77a54a:9d2afbc4c900d25dece6fb166254f2d385839fe819ed1cbe8d3890901dbe51e7&#x27;, &#x27;aib_bronze.equity_ohlcv:9548316720d05f535bcd088e9464f4570d43e8a1bc952d731b25e347ce870d14:b0b363a2fb3314b9ef2f3b4c3d3e222e1594adc88cf1c8a8f0072f687dea3d4a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.08976999416844}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.19076075817572313, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.19076075817572313, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2abb32a12844139206f20fa76e2bf98acab4d7bc65597f18980c6efbab120b27&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;d9432e63b82530df887e7c1cc2ea0280243992eb05fd09c469fd49018ee7ffc0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;53a23120dddf219cd2846cf6ff5c7de8621645dda6637e287494858b87c3263a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;af4dccd553bed998e37cc68f5580194b90a38986cd9bb54f0ad2c8d9b29e4cee&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4d88da447ea0d0aff6ea27b22f40b165dec832d23990e5dceff7d45e2172098f:2b270b981f1f1fa9438e129ed516e6f887398795a837ece91c484113229db8d1&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2d0e2a641215174ac26cc9edebbbdeea35335f5ca002d7f101c404c03f30826c:cf6e4222cbb0c5f8268c84310e8f78ab9dbaab65e7f5b5ce473e7b81c22e1d03&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2d0e2a641215174ac26cc9edebbbdeea35335f5ca002d7f101c404c03f30826c:cf6e4222cbb0c5f8268c84310e8f78ab9dbaab65e7f5b5ce473e7b81c22e1d03&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:4d88da447ea0d0aff6ea27b22f40b165dec832d23990e5dceff7d45e2172098f:2b270b981f1f1fa9438e129ed516e6f887398795a837ece91c484113229db8d1&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.1124455628535}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Down 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.5792294159632116, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.5792294159632116, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2abb32a12844139206f20fa76e2bf98acab4d7bc65597f18980c6efbab120b27&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;4e71ab25f7be6af24c51e0f46f1a36d116966e715a88b0932f1a8b7b857d4b0f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8ac9482e2ef0133cf44dfe6016e61606ad4a7e865c1ad32dfbd2c3c0b318b70c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1cc9fc922c4efd187ed8a79163bba20146370ab8282fff60e3fc60f204386ebb&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d8dbef1866f5674305f27be92255c1b2bd43f607071d16b8bb6cfb7d880672c:4b53b1ce252c950a91dc149c893761d9d979299b665ca67dfbae7680e7394223&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:673c06cb260620837037edb8f9701b448b55c39c25955940735f9f7c7ee52987:f405302fdac758b2c18538bd8c1822f003062e4a1bc6a2f3a704adae4a0efb17&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0d8dbef1866f5674305f27be92255c1b2bd43f607071d16b8bb6cfb7d880672c:4b53b1ce252c950a91dc149c893761d9d979299b665ca67dfbae7680e7394223&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:673c06cb260620837037edb8f9701b448b55c39c25955940735f9f7c7ee52987:f405302fdac758b2c18538bd8c1822f003062e4a1bc6a2f3a704adae4a0efb17&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.28789183867457}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Up 1.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.46%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.4589980233418176, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 1.4589980233418176, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2abb32a12844139206f20fa76e2bf98acab4d7bc65597f18980c6efbab120b27&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;f920f0cd9698c64a4157310b422e6c727d4229612de404a36c799ed4dcd9d1c2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0c3cac94db5e632e6bb82b5b2f25e15c6c218b777938fa51e8cf49a0c589be38&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3857b769588fbb2ded4816f03ae238b44255005f1e541a69ee097a144547a304&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b7d98b8f8448f0d5bffd8377d5c0cfd77349f2d1f8dba996b81d72d9f026561f:758fb7a57186761c0ad2841e424b9f4f9cd9966389deec558ef430f9e67e2b44&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0b85c9d24a5f54805c7ae7454c037fdbfa7d37f2bab2435f0e787aa820da4658:f73eed70a7e18f224c8eef8cd763bfb30378c4350ed9087af514c61e15fde208&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0b85c9d24a5f54805c7ae7454c037fdbfa7d37f2bab2435f0e787aa820da4658:f73eed70a7e18f224c8eef8cd763bfb30378c4350ed9087af514c61e15fde208&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:b7d98b8f8448f0d5bffd8377d5c0cfd77349f2d1f8dba996b81d72d9f026561f:758fb7a57186761c0ad2841e424b9f4f9cd9966389deec558ef430f9e67e2b44&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 92.09019558021183}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ◆ Mixed</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Front VIX at 0.97× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.975.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;f392c9ff2eaad6d86f55291522530bf7489cd6a1ecd9e28c285b80f0a3182ebe&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;40e554ec25d285c384b18c3a40665f2b18a7f1442a1bd51e354a1edc06cc1cd9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 562, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c17794c530b67a0551bf5748955cd945084431ad158ab539c9c9e678ae093fb0&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;a624166fb942bd0222bccbf569a4c58ace30c3c97852aca305d378b31fa118dd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4c3de206bd834dab4eb9330f50f83a29c0cb975330a024ae1fecb7d80fa86365&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d0e87a96aea5333dfc55adb0b00795292e219a98a88a80269c1072d11a8fcad2&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-17 04:03:01.314000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c5f0c52e331cc59f743ec24bb83255c6b6eb0cd674d47a5c742b0438453ff67a:8d6c6c40c76b97f1085659fa47d5a6a9e253df6125b594ecdddc49c2afd909e4&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:0cb5c682254c6d3df01676d021d3af0b1cc33c6662f752d8e1c74b39124f522c:74e5b6c68115d0a0914532e2f29a6d5fc70dbfa089136a95427f9d8bef38df51&#x27;, &#x27;aib_bronze.equity_ohlcv:a08b14b2b7939f65b9850b69bcd0f84cd3f35be41cca6fe4424d3c58c3c11648:a5dc53223a4b2becf3a30b768934806427ad38868b297427320b2b9b636a6863&#x27;, &#x27;aib_bronze.equity_ohlcv:b6a0eae3514308fb5bb8811ef33827820c56281120a5bb04c080d60b201cc05b:85ecc0885677b4c7f7baeb83a8b4f156a6fdad4cd4efe0ef48c7224a680dde76&#x27;, &#x27;aib_bronze.equity_ohlcv:c5f0c52e331cc59f743ec24bb83255c6b6eb0cd674d47a5c742b0438453ff67a:8d6c6c40c76b97f1085659fa47d5a6a9e253df6125b594ecdddc49c2afd909e4&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.9751219512195122}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-19 07:48:42+00:00</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.97%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.973402264219749, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -2.973402264219749, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;f5f9b72bf4dc2351386942e67f93088e080f2fb5fc6ed7f517f2d1646c204d85&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6daffe38ea3e18b354f023b5ec21a4fdb010245300f64b6e2ad0cd9e7eb59824&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;84b404c0a6adde748809fcf73194443ae992086d19bc4fb31256864e9cc2dbae&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;e3b32d5e63513efd47b57c7597fcac68e2de589a8df689abec6167586c674c2a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c3b6f57e52a19cf54417c49d5bd745f39fad6b26f7f17702f6f6e4fa16d345ce&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b9c341ae63b88bd060695a7e45695a5a916426ee2a5e23cd58b945c97f3429cb&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;4a594e8014de470819b1b21658157ba06b4feb2318a8b98d507fe4d40379ccbd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;aeb4b7601ab42cb6ad06ebb812b1a750c2a86cd18f7dfefad92cd7b8d9e3a439&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-19&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f195ccea056c106a120d91498ca7947c8194de7e1a3f9756ee6b4d6ac4d252c2:69ac7abbdcdcb32251dff20ae38c887de24682db77798d74b987e33ffd710fb5&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:92e045ed46ecba4d52791cdb262536f22a1a8b563a93922a573342b22a77a54a:9d2afbc4c900d25dece6fb166254f2d385839fe819ed1cbe8d3890901dbe51e7&#x27;, &#x27;aib_bronze.equity_ohlcv:f195ccea056c106a120d91498ca7947c8194de7e1a3f9756ee6b4d6ac4d252c2:69ac7abbdcdcb32251dff20ae38c887de24682db77798d74b987e33ffd710fb5&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.80591719880235}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-18 / 2026-10-18 22:10:34+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,033B (conditional on an IPO), -5.57% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $32.; Probability-weighted bucket midpoint: $1,033B.; Seven-day implied-cap change: -5.57%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.5680399500624205, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0375, &#x27;full_set_prob_sum&#x27;: 1.004, &#x27;implied_cap_change_7d_pct&#x27;: -5.5680399500624205, &#x27;implied_cap_usd_b&#x27;: 1033.3333333333335, &#x27;ipo_by_2026_prob&#x27;: 0.0425, &#x27;no_ipo_by_2026_prob&#x27;: 0.9665, &#x27;volume_24h_total&#x27;: 32.4502}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-18</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-18</td><td class=\"num\">114,243</td><td class=\"num\">24</td><td>—</td><td class=\"num\">21.23</td></tr>\n<tr><td>CISO</td><td>2026-10-18</td><td class=\"num\">614,913</td><td class=\"num\">24</td><td>—</td><td class=\"num\">11.88</td></tr>\n<tr><td>ERCO</td><td>2026-10-18</td><td class=\"num\">1,101,174</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-13.39</td></tr>\n<tr><td>PJM</td><td>2026-10-18</td><td class=\"num\">1,929,737</td><td class=\"num\">24</td><td>—</td><td class=\"num\">4.456</td></tr>\n<tr><td>SOCO</td><td>2026-10-18</td><td class=\"num\">502,229</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-9.225</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">43.58</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">41.07</td><td class=\"num\">0</td><td class=\"num\">-2.517</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">41.07</td><td class=\"num\">0</td><td class=\"num\">-2.512</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">57.55</td><td class=\"num\">0</td><td class=\"num\">7.125</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">50.43</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.47</li>\n<li>as of: 2026-10-18</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.1144</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>412 benchmarked model identities; 244 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 14,717,926,295,254</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 5,654,794,131,584</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,203,143,469,730</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,470,933,409,997</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 727,538,426,789</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 4,767,619,936,154</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,451,149,917,107</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 350 eligible configurations.</p>\n<p>Usage window: 2026-09-19 → 2026-10-18. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-19 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;5af1b8302ff0b1560bbe560281bb8620ffa24e1dcdb245af592b42f93f06d646&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;a9063247112c436d79a58ee9e130be3dd57e27acc5e3ace5db4d003bbed3184f&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;475037aeb7de0d41361c145431557fefece2c900eed4948b1b8f475be8d221c3&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-19 07:47:26&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-19 07:47:34&quot;, &quot;record_count&quot;: 1859, &quot;records_hash&quot;: &quot;5d39ec01741eefa7df4e504265daf8a94c6e220648b4d0d51bdb056717021151&quot;, &quot;snapshot_id&quot;: &quot;dffad6c64828ef2f2930cace589df26556dc4decf36ad364a62becf2ffb59aea&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;27cfb7f80101873ba02d9f641bbc21c34b07ceb3bb7d587a0fdc6a9e4cf71906&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;6e6a3f0e33996a5b02bea6fdadf71eb6a0561fb12549bd0f84800b50a4e6149c&quot;, &quot;b7509d539e51530d584c77671378dfc67ec9ab59f002759f1d5a4ced87b8dd46&quot;, &quot;a282ad3481086ab167e1cfddd0f11add0b1de67ecc80bd5e674d4c7f290a4d33&quot;, &quot;2809b7354d233e0cf67f5c11875384a10283952b0411dff5defb6ddbf919982b&quot;, &quot;2b4a9178310d1fef3db241909600a6e53a5ef029c189d888e4d405a0dfb792ba&quot;, &quot;f35ea9d5fadb60d86a57d4393bdc3db5ff556d0afb1be6b3d859ae3221fdaeb2&quot;, &quot;c8e00819a80b505b72e94036609f1e758019ce5ae0905d765b0c94b52058c24f&quot;, &quot;bc6ddf2354477f58b05b8cc6568796b1534afa3b6796a886440354ec2e5577d2&quot;, &quot;69f610fc2f63906435398543648a4d1d0cf52b5566b811aa94df034cd45d7e85&quot;, &quot;8476aa16df50403bd46a9840cde788b8892102fb1dec9c68166b97fc45b74bf9&quot;, &quot;34eba2cca384df3602e9e210d7bb8c26f6412356c3db54020526bca67dad6c8c&quot;, &quot;60d3064924d87ff1500670318aa2b68fd6ef98f841241b30610af954b6c7f3cb&quot;, &quot;666c4302bd5b8edd23d67a330ae32e098c2f0365ecc921f7a34da9a93b5c8253&quot;, &quot;482acb2cbed5933a1155f072f2358c891ffd2b6dc2ce3bd9f74ce6304c60f6d3&quot;, &quot;f683edb44753f06e86d4ccece1df7f9c8025b1738c11b26ed34ca5cccd88c75b&quot;, &quot;fb899e4d0c2caa68144ce94bb909fbee7efb390d4cc81a9d198a723c741f2e32&quot;, &quot;ffc97edd6e105d14fb77ef35cd74ebdf569c347fb99090b20cd491025105cb23&quot;, &quot;c05cf6fbe23eb6134eea4db615dfc7f95f48cde789d99b1d9066a705e2ac9b6e&quot;, &quot;8f69d477f8b5cfb91c69138bc72b7741ff2a69cac17b2e3fa15540de0186ffb1&quot;, &quot;5d4e33df452fa52a8c9b1aa4a0db391906d2fce0d0d080a586887bd345ef0757&quot;, &quot;3266697b2d347c7a27927b4cc0f445689c5b9f319ec2d495537717bf146bd310&quot;, &quot;e095e03ac9351510fedcd64e35a5dde14d866b265bd890e9a93f111701362a4a&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-19 07:47:38&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-19 07:47:41&quot;, &quot;record_count&quot;: 785, &quot;records_hash&quot;: &quot;099dd567fd267c8de23bf56d46561f02200fa339a04dcb97c86bfd069b673eaa&quot;, &quot;snapshot_id&quot;: &quot;b8304150c78f1a026f93e640d5ab4347e348c311ae4a549aed73c8e34453c1bc&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;34751ac65f2bfd35b6430ff94535fafc1d359f92d671e17d5a0e2eab1595eb1b&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;709ccdbb040315c0b17bfe5041bb3c82b7eb5f582234e674d339e1c1e9ff3478&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-19 07:47:32&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-19 07:47:34&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;1786f0d96e8232df46e3b3794b4944614ccb37bb16b828c78ebbbfcbfcaf5dca&quot;, &quot;snapshot_id&quot;: &quot;1a32045f7d5773c58482a7967bc732e8b9d77c6438e5ec9c3c2101f098125dbb&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;c329de15c0946414adbdce3441bcd0bfcf7effa4a47f0e96734a2535f085052c&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;9b1a03eef97bb37bf6afecb6331ac55fcf88dedd7ead5cedd04b89c00599630f&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-19 03:58:56&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-19 03:59:01&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;57f6349a3e668edd5460401b2c65db652055159a975064c462f32a9a30047604&quot;, &quot;snapshot_id&quot;: &quot;871cd679e26adbb9589be431adf5d7075715b1f39c93dc58e30ec606d9c8c622&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-19 19:39:55</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">8</td><td>2026-10-19 07:49:25</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-19 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-19 07:47:23</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-19 07:47:23</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-19 07:47:34</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-10-19 23:55:18</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-19 23:40:33</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-19 07:49:25</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">654</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">139913</td><td>2026-10-19 07:47:23</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">116</td><td>2026-10-19 19:44:56</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-19 23:12:52</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1792451578</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">471</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">648</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1859</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">785</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-19 07:49:19</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-19 05:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-19 07:47:23</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: eia930, engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-20T05:10:11Z",
      "id": "urn:prexel:issue:e9032366-b58e-54ad-83ac-f9ebace2b02a",
      "summary": "Prexel daily — period ending 2026-10-19. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 49 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-19-daily-375d7f7ba3ba.html"
    },
    {
      "_prexel": {
        "content_hash": "915c199cbba0f5eb81b56b65e97ae3b5ae29040a88736aa249a58cab12ff08e0",
        "context_hash": "28d1924c422ff596c22ceccad07ba1a4113425d64315ff7f369ed1d13d97d51e",
        "kind": "daily",
        "period_end": "2026-10-18"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 48 (daily)</h1>\n<p>Period: 2026-10-18 → 2026-10-18</p>\n<p>Context hash: <code>28d1924c422ff596c22ceccad07ba1a4113425d64315ff7f369ed1d13d97d51e</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ◆ Mixed — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Utilities vs S&amp;P 500: ◆ Mixed — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>VIX term structure: ◆ Mixed — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>H100 spot rental price: ▼ Bearish — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Evidence revised; cause unclassified. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>PJM load-growth difference: ◆ Mixed — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-10-18T04:03:39.843258+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 28 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 11 bullish, 9 bearish, 12 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-17 23:16:13+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=3.748228813232573; b200_h100_ratio_change_14d_pct=0.28073161487299036; b200_offered_usd_hr=9.001302083333334; band_measured_pct=28.073161487299036; band_pct=5.0; h100_spot_usd_hr=2.4014814814814813</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 3.748228813232573, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.28073161487299036, &#x27;b200_offered_usd_hr&#x27;: 9.001302083333334, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 28.073161487299036, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 28.073161487299036, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.4014814814814813}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-17 23:16:13+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-17 23:16:13+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.02853258855514088; h100_depth_smoothed_3d=35.75; h100_dispersion_smoothed_3d=1.6965895891189575; h100_price_change_14d_pct=-0.0006936532026915924</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.02853258855514088, &#x27;h100_depth_smoothed_3d&#x27;: 35.75, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.6965895891189575, &#x27;h100_price_change_14d_pct&#x27;: -0.0006936532026915924}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-17 23:16:13+00:00</li>\n<li>interpretation: H100 spot rental prices are softening.</li>\n<li>evidence: band_measured_pct=-14.300820362839675; band_pct=8.0; h100_spot_usd_hr=2.4014814814814813; spot_trend_30d_pct=-0.14300820362839675</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.300820362839675, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -14.300820362839675, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.4014814814814813, &#x27;spot_trend_30d_pct&#x27;: -0.14300820362839675}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-18 04:01:14+00:00</li>\n<li>interpretation: Up 7.0% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 7.02%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.015218863705508, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 7.015218863705508, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3171492051, &#x27;total_tokens&#x27;: 236638619446175}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-18 04:01:15+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.41pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.1%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.4063710741490496, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.07944583821059, &#x27;top10_share_change_14d_pp&#x27;: 0.4063710741490496}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-18 04:01:15+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 15 cuts, 9 raises.; Fixed-basket price at prior-day token weights: $0.684/Mtok.; Seven-day like-for-like change: -6.92%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.920655211680149, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 349, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.684167514607017, &#x27;like_for_like_change_7d_pct&#x27;: -6.920655211680149, &#x27;price_cut_model_count&#x27;: 15, &#x27;price_raise_model_count&#x27;: 9}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-18 04:01:15+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -3.54%.; Token-weighted effective price: $0.680/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.5362139186927988, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -3.5362139186927988, &#x27;effective_price_usd_mtok&#x27;: 0.6804121363245113, &#x27;matched_model_count&#x27;: 349, &#x27;total_standard_tokens&#x27;: 157587280729509, &#x27;unmatched_token_share&#x27;: 3.41985180498951}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-17 04:01:38+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.9 listings/month.; Relative change: +152.7%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.71966527196653, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.916666666666668, &#x27;listing_rate_change_pct&#x27;: 152.71966527196653, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-18 04:01:15+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +20.72pp.; Open-weights share of routed standard tokens: 73.1%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 20.720713042168974, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 19.94874019436743, &#x27;chinese_lab_token_share&#x27;: 70.66378489610032, &#x27;matched_model_count&#x27;: 349, &#x27;openweights_share_change_14d_pp&#x27;: 20.720713042168974, &#x27;openweights_token_share&#x27;: 73.10610476237342}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-16 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: revised in bronze; source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-18 04:02:18+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $44.66/MWh vs prior 14-day $53.68/MWh (-16.8%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -16.813648168285443, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 44.65757142857143, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.683771971288515, &#x27;caiso_da_trend_pct&#x27;: -16.813648168285443}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-18 04:02:18+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.11 MMBtu/MWh vs prior 14-day 17.45 (-19.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -19.14148456360648, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.111254313618298, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.451785056230428, &#x27;caiso_heat_rate_trend_pct&#x27;: -19.14148456360648, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-18 04:02:18+00:00</li>\n<li>interpretation: PJM total load growth is tracking the CISO/ERCO regional mean within the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +9.59% vs control mean +8.44% (gap +1.15pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 1.1484782194586227, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 9.196782195628051, &#x27;dc_load_premium_pp&#x27;: 1.1484782194586227, &#x27;erco_load_yoy_7d_pct&#x27;: 7.68646852883226, &#x27;pjm_load_yoy_7d_pct&#x27;: 9.590103581688778}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-18 04:01:24+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +19.12% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 19.12217883091839, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 19.12217883091839, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Down 14.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.21%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: 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accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-17</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Down 3.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.17%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.17065188659135533, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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04:02:31+00:00</li>\n<li>interpretation: Down 26.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -26.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -26.413262562711417, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -26.413262562711417, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Up 3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.5781423782425215, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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2.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.3592178233965644, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.3592178233965644, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: 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&#x27;bba1c4694cc40f3d1f0e87b37711d9f37ddc0deee2c3a3d7ad3c812548452936&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;554054a31069a731d64e6dc97abc8b69ed6b84eab7d7781e27a721056b975002&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;SOX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f8e90bf70ad442b47a35a4e4dca62c3c7a768db489745d45b922144ea68fcfd7:26015141fa7557d83ce8cddcf9ea844d6b251c09761c914a09625e3f48438124&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:47ae4e58d09a7c58e7a82b231557f001ec135b0028acbe2c50c6a375235e0629:f935204b5feb3ef515245696061095e948714d0d8e4b12972029f0b1a68f88c3&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:47ae4e58d09a7c58e7a82b231557f001ec135b0028acbe2c50c6a375235e0629:f935204b5feb3ef515245696061095e948714d0d8e4b12972029f0b1a68f88c3&#x27;, &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;aib_bronze.equity_ohlcv:f8e90bf70ad442b47a35a4e4dca62c3c7a768db489745d45b922144ea68fcfd7:26015141fa7557d83ce8cddcf9ea844d6b251c09761c914a09625e3f48438124&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 124.70562024703537}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.09940312657764627, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.09940312657764627, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;JAAA.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;e958afe412ec46c7297550ff6fc559964b5609a41a5ff972ad4f1ca2f1a954c4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;98a4fb70247aca3bcbb907a8b05ebb62433a5e878805f4b5927562ba94207ca0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: 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&#x27;aib_bronze.equity_ohlcv:76f77efcf02c11812af5e0d1d04d11f79e029446d7645169d251dc9e5fba2e74:abece2c4faa58d91bbdcfcf7a3039b2d55cbcafcfcc484b7b16aea0e9ec7471f&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:041d59515ced490c8df0aa16851d7c839a92450990e1ba776aab3c9eb6dd6005:da7414b289a72e61b9556d4f003b0decfe1aa1d0bf6a25f253f8da0c4b5d8336&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8e68e9312cfc5a47fdb5ba5408c92da3568c195861e584f70e8364057f8b17a8:8cbfaee73e3bdcef444d6e9a3d00c5608a5b561d7b8c6807ba2c90e41e45dcb5&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:041d59515ced490c8df0aa16851d7c839a92450990e1ba776aab3c9eb6dd6005:da7414b289a72e61b9556d4f003b0decfe1aa1d0bf6a25f253f8da0c4b5d8336&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:741c26d9a7edcb62b3cc51fff2bbfd10fd992e0d531d9ff274c268959c9c03f8:2de22a9a58da9fa0df551ff603716470cac3335e36a28b419a010a07ba41b01a&#x27;, &#x27;aib_bronze.equity_ohlcv:76f77efcf02c11812af5e0d1d04d11f79e029446d7645169d251dc9e5fba2e74:abece2c4faa58d91bbdcfcf7a3039b2d55cbcafcfcc484b7b16aea0e9ec7471f&#x27;, &#x27;aib_bronze.equity_ohlcv:8e68e9312cfc5a47fdb5ba5408c92da3568c195861e584f70e8364057f8b17a8:8cbfaee73e3bdcef444d6e9a3d00c5608a5b561d7b8c6807ba2c90e41e45dcb5&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.28060338183286}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Down 1.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.98%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.9808955022280852, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.9808955022280852, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;a8916e4272486f01a7c432d93ec94775c3a60d2115cee58bed13034d27b52cbd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9394561b00387881728ed79321d91af26432f6d59c552fa44a12d2b4355f0da3&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;81ad0e2f37a3802cb892f29ba8e64207f16e74d0d9fab80869c40ebe076d85d1&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;4a594e8014de470819b1b21658157ba06b4feb2318a8b98d507fe4d40379ccbd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;aeb4b7601ab42cb6ad06ebb812b1a750c2a86cd18f7dfefad92cd7b8d9e3a439&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2a80752aea3e82b533fbe3e6bcfa9477f8f3803b51862ffd0ec15ad77a2cc012&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:48a6759187e1b6dbf9703934a901a450040711b7a3174fa60b3c7405480889bd:c88b6945dcbaebb1344e7f66675bc8fe0687b1fbba35f59ae9f1fd61afd0bbf6&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:92e045ed46ecba4d52791cdb262536f22a1a8b563a93922a573342b22a77a54a:9d2afbc4c900d25dece6fb166254f2d385839fe819ed1cbe8d3890901dbe51e7&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9548316720d05f535bcd088e9464f4570d43e8a1bc952d731b25e347ce870d14:b0b363a2fb3314b9ef2f3b4c3d3e222e1594adc88cf1c8a8f0072f687dea3d4a&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:80e98d71a026c99be36bd3a503c92c5a2a59d10e932e21c2562fcc804c16085c:1a0af68257a9ea5c510dacca4a3f3288ad970fc52e32313bd03263792b16a648&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:48a6759187e1b6dbf9703934a901a450040711b7a3174fa60b3c7405480889bd:c88b6945dcbaebb1344e7f66675bc8fe0687b1fbba35f59ae9f1fd61afd0bbf6&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:80e98d71a026c99be36bd3a503c92c5a2a59d10e932e21c2562fcc804c16085c:1a0af68257a9ea5c510dacca4a3f3288ad970fc52e32313bd03263792b16a648&#x27;, &#x27;aib_bronze.equity_ohlcv:92e045ed46ecba4d52791cdb262536f22a1a8b563a93922a573342b22a77a54a:9d2afbc4c900d25dece6fb166254f2d385839fe819ed1cbe8d3890901dbe51e7&#x27;, &#x27;aib_bronze.equity_ohlcv:9548316720d05f535bcd088e9464f4570d43e8a1bc952d731b25e347ce870d14:b0b363a2fb3314b9ef2f3b4c3d3e222e1594adc88cf1c8a8f0072f687dea3d4a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.08976999416844}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.19076075817572313, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.19076075817572313, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b227890c1924d97cf37f103169d4a687739c7f51611f70289ed2f442def90d43&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;d9432e63b82530df887e7c1cc2ea0280243992eb05fd09c469fd49018ee7ffc0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;53a23120dddf219cd2846cf6ff5c7de8621645dda6637e287494858b87c3263a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b1aaf7a9db35966c12967a661275ce8bb4b9b12407f3d538e10ca564800d711f&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4d88da447ea0d0aff6ea27b22f40b165dec832d23990e5dceff7d45e2172098f:2b270b981f1f1fa9438e129ed516e6f887398795a837ece91c484113229db8d1&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2d0e2a641215174ac26cc9edebbbdeea35335f5ca002d7f101c404c03f30826c:cf6e4222cbb0c5f8268c84310e8f78ab9dbaab65e7f5b5ce473e7b81c22e1d03&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2d0e2a641215174ac26cc9edebbbdeea35335f5ca002d7f101c404c03f30826c:cf6e4222cbb0c5f8268c84310e8f78ab9dbaab65e7f5b5ce473e7b81c22e1d03&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:4d88da447ea0d0aff6ea27b22f40b165dec832d23990e5dceff7d45e2172098f:2b270b981f1f1fa9438e129ed516e6f887398795a837ece91c484113229db8d1&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.1124455628535}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Down 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.5792294159632116, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.5792294159632116, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b227890c1924d97cf37f103169d4a687739c7f51611f70289ed2f442def90d43&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;4e71ab25f7be6af24c51e0f46f1a36d116966e715a88b0932f1a8b7b857d4b0f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8ac9482e2ef0133cf44dfe6016e61606ad4a7e865c1ad32dfbd2c3c0b318b70c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5e11800191cae72f30f2b51ab83776d27a1c55e32991ebced222e1fb75437ae5&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d8dbef1866f5674305f27be92255c1b2bd43f607071d16b8bb6cfb7d880672c:4b53b1ce252c950a91dc149c893761d9d979299b665ca67dfbae7680e7394223&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:673c06cb260620837037edb8f9701b448b55c39c25955940735f9f7c7ee52987:f405302fdac758b2c18538bd8c1822f003062e4a1bc6a2f3a704adae4a0efb17&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0d8dbef1866f5674305f27be92255c1b2bd43f607071d16b8bb6cfb7d880672c:4b53b1ce252c950a91dc149c893761d9d979299b665ca67dfbae7680e7394223&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:673c06cb260620837037edb8f9701b448b55c39c25955940735f9f7c7ee52987:f405302fdac758b2c18538bd8c1822f003062e4a1bc6a2f3a704adae4a0efb17&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.28789183867457}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Up 1.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.46%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.4589980233418176, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 1.4589980233418176, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b227890c1924d97cf37f103169d4a687739c7f51611f70289ed2f442def90d43&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;f920f0cd9698c64a4157310b422e6c727d4229612de404a36c799ed4dcd9d1c2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0c3cac94db5e632e6bb82b5b2f25e15c6c218b777938fa51e8cf49a0c589be38&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6c05e23e88a0b1c9695895b841b0b632bc24a5614a30e76d2611fb3581cb443f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b7d98b8f8448f0d5bffd8377d5c0cfd77349f2d1f8dba996b81d72d9f026561f:758fb7a57186761c0ad2841e424b9f4f9cd9966389deec558ef430f9e67e2b44&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0b85c9d24a5f54805c7ae7454c037fdbfa7d37f2bab2435f0e787aa820da4658:f73eed70a7e18f224c8eef8cd763bfb30378c4350ed9087af514c61e15fde208&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0b85c9d24a5f54805c7ae7454c037fdbfa7d37f2bab2435f0e787aa820da4658:f73eed70a7e18f224c8eef8cd763bfb30378c4350ed9087af514c61e15fde208&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:b7d98b8f8448f0d5bffd8377d5c0cfd77349f2d1f8dba996b81d72d9f026561f:758fb7a57186761c0ad2841e424b9f4f9cd9966389deec558ef430f9e67e2b44&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 92.09019558021183}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ◆ Mixed</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Front VIX at 0.97× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.975.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;f392c9ff2eaad6d86f55291522530bf7489cd6a1ecd9e28c285b80f0a3182ebe&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;40e554ec25d285c384b18c3a40665f2b18a7f1442a1bd51e354a1edc06cc1cd9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 562, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9603bc0f5d49df7b7a575c1fe8e5090a5d4d48764cb9b77b43f97142bfa07412&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;a624166fb942bd0222bccbf569a4c58ace30c3c97852aca305d378b31fa118dd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4c3de206bd834dab4eb9330f50f83a29c0cb975330a024ae1fecb7d80fa86365&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-18&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;faf1537552dd71c50fe7b449efc47e5b553c20185f9bcdd5471b4690e5d8aa4a&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-17 04:03:01.314000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c5f0c52e331cc59f743ec24bb83255c6b6eb0cd674d47a5c742b0438453ff67a:8d6c6c40c76b97f1085659fa47d5a6a9e253df6125b594ecdddc49c2afd909e4&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: 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<code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-18 04:02:31+00:00</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.97%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.973402264219749, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -2.973402264219749, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-18 04:02:38.769000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f195ccea056c106a120d91498ca7947c8194de7e1a3f9756ee6b4d6ac4d252c2:69ac7abbdcdcb32251dff20ae38c887de24682db77798d74b987e33ffd710fb5&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:92e045ed46ecba4d52791cdb262536f22a1a8b563a93922a573342b22a77a54a:9d2afbc4c900d25dece6fb166254f2d385839fe819ed1cbe8d3890901dbe51e7&#x27;, &#x27;aib_bronze.equity_ohlcv:f195ccea056c106a120d91498ca7947c8194de7e1a3f9756ee6b4d6ac4d252c2:69ac7abbdcdcb32251dff20ae38c887de24682db77798d74b987e33ffd710fb5&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.80591719880235}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-17</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-17</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-17 / 2026-10-17 21:45:10+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,040B (conditional on an IPO), -13.24% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $233.; Probability-weighted bucket midpoint: $1,040B.; Seven-day implied-cap change: -13.24%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.23529411764708, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.034, &#x27;full_set_prob_sum&#x27;: 1.0005, &#x27;implied_cap_change_7d_pct&#x27;: -13.23529411764708, &#x27;implied_cap_usd_b&#x27;: 1040.441176470588, &#x27;ipo_by_2026_prob&#x27;: 0.0425, &#x27;no_ipo_by_2026_prob&#x27;: 0.9665, &#x27;volume_24h_total&#x27;: 233.36}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-17</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-17</td><td class=\"num\">118,160</td><td class=\"num\">24</td><td>—</td><td class=\"num\">27.13</td></tr>\n<tr><td>CISO</td><td>2026-10-17</td><td class=\"num\">680,483</td><td class=\"num\">24</td><td>—</td><td class=\"num\">20.12</td></tr>\n<tr><td>ERCO</td><td>2026-10-17</td><td class=\"num\">1,122,864</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-18.8</td></tr>\n<tr><td>PJM</td><td>2026-10-17</td><td class=\"num\">1,970,146</td><td class=\"num\">24</td><td>—</td><td class=\"num\">4.148</td></tr>\n<tr><td>SOCO</td><td>2026-10-17</td><td class=\"num\">539,182</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-6.011</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">49.32</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">49.09</td><td class=\"num\">0</td><td class=\"num\">-0.2378</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">49.09</td><td class=\"num\">0</td><td class=\"num\">-0.2347</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">66.28</td><td class=\"num\">0</td><td class=\"num\">7.276</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">59.01</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.401</li>\n<li>as of: 2026-10-17</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.143</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>revised_in_bronze</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>412 benchmarked model identities; 244 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 13,896,369,156,570</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 5,364,105,911,423</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,274,060,235,550</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,713,807,250,087</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 596,352,539,082</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 4,592,568,710,112</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,514,720,302,814</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 350 eligible configurations.</p>\n<p>Usage window: 2026-09-18 → 2026-10-17. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-18 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;c6ea5ba92362e0e7dc7b452109de44dfe90d123b634351a27c4a49923be2b2cd&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;07e979bc3f61607275e6c516d6bbd076a49cf0067079f037b8d7dfe6af7e9eb7&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;fb5b0cd963d8fe876ceb09a29e1a66517f6dc31d1c22f6d14f016e39400dcc13&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-18 04:01:15&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-18 04:01:22&quot;, &quot;record_count&quot;: 1859, &quot;records_hash&quot;: &quot;a57eb00da58a8d8a86d2b2d39e8426d786f81de97b595571b34a5f0ae1e549ed&quot;, &quot;snapshot_id&quot;: &quot;600405b2a731e579a4e50b7888b4658ca06ce2bb3020681dceaa26703f74d7c7&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;55baa292bb9e360b4a04b86e2f890e75bfdc66c5fcbeb47ae3b19afba57d70fe&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;ea58861e32d1f9805b008e3fdd12d2c71aeb2a145a0965dc7dd7c09a6c008019&quot;, &quot;a17fe85bd0ddbf10fdd74b647721a88abb83b09059c96722fcfcebc10dc0b3da&quot;, &quot;b9a17bf6d6c82c08316a9728dba02c61a123d529b774568616ed62d5521b3db5&quot;, &quot;33a219536b484a51f31de0a4b7b8f2f1f12861b19be1a7fa749712276e7856de&quot;, &quot;1a7895aeef162f36fc7f43d931527246aef9e42ce95080c0deecf1b5c6e430a2&quot;, &quot;c574807e31d62f912ad956c019de857564f85962f86aa62a3104e5271b894e94&quot;, &quot;7a02e26918c722c23e8c1dddc9bd32bf6ffaf36509577a4d248bf72446d15748&quot;, &quot;e668d8fee72eff151f22ab7b0e6cbf7e44d0604d1f4cfa57ac0aa82f4f41785b&quot;, &quot;d84376f22652d1b71224ec7b48d55bef2e5c808b550632df0c7ed745371f5473&quot;, &quot;c69357381a88c693e3e36e04278587e830f69dfeccdb3dc154c57a43307dd674&quot;, &quot;cb6695a3a4105023d9047615bd659233912c3f37d1a43a9ade22ef4eeb19f1d3&quot;, &quot;fa6a34bb76c9cec814476247d31bacafdd926e29b489e569f719ca139e2e49e8&quot;, &quot;38811b31a62f0fa4f077abb59c002152523e9680e4a8279157a7a78917ff6687&quot;, &quot;ef87d6c82796db345f26efb81df6c214e711faca4698b7d1dd58a7115bd23326&quot;, &quot;aa24bca5a7564c4e49aa6e7c8d341c59ab469d2f73f6d414eef529bb905260bb&quot;, &quot;daa9362fd922c9bd1abc738c17ff7c888a2432e4635d6f608717e1413976a900&quot;, &quot;12a02c815b9eccddfd917cc4f6dd101d0512152185950565feca175ba8e7d514&quot;, &quot;a7e72f7469511344abdef81e291237ac7180800b40582b30df6517925c938b85&quot;, &quot;6e56ed604296fcdf6d77f9835be909ed5bc9f67f7129b126b00eeb8d0ee29ced&quot;, &quot;5aafed7359dc0c0a286a0e1dee86e504c1b3bdadbe57d2b9288540b74d6de0cb&quot;, &quot;3a026650c3cee32b7e0ef1cbe448993a4cdf23a3faa7d5d3042d25688dc49c9f&quot;, &quot;fdee0692733113dd7c3f44249f2330cd3556962e682f933e9ddb644e34daeaf4&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-18 04:01:24&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-18 04:01:26&quot;, &quot;record_count&quot;: 779, &quot;records_hash&quot;: &quot;559ddbd73da193235d5b1959be870df105c8e31c730c00ba8de425bd5520c61e&quot;, &quot;snapshot_id&quot;: &quot;ac294ac0a6a98458ff7f7d6cf5647dc90e4d87e3747da3300c663393b13e2c22&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;4040895a5cadd50e1b72af0378ce0ed01f9768429223ddee983670650a86f670&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;ff8edd60c23a396c66746e7a48d46441371a6b43910a554b5f97d33c36535994&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-18 04:01:16&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-18 04:01:22&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;3672108452d866508342322abd3bae5d85dcdd5f577936b2320905c1b8452e37&quot;, &quot;snapshot_id&quot;: &quot;52bbcf3bd1a1ef28a08b69c65c66bc1642df3c77acd23794e0930665b562cbbf&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;5c431cc08e3ef3a2c47a8e45d9bf293053129b354414f6205c17dd8a4384a513&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;d66986ae59944c42662c2562267442aff8f7ab40000e547dbc4ff6c42b63177e&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-18 04:01:15&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-18 04:01:21&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;3ca44298b77a439838d5e1f32a01b7f00598f34e00a38b638904b91a73fac6bc&quot;, &quot;snapshot_id&quot;: &quot;9ba3ec95944c9957ccb5d00ba210c2521fafcfbc8f94a0891f58b0b8dc51611d&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-18 22:10:34</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">172</td><td>2026-10-18 04:03:10</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-18 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-18 04:01:12</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-18 04:01:12</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-18 04:01:21</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-10-18 23:27:21</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>eia930_subba</td><td>error</td><td class=\"num\">0</td><td>2026-10-18 23:03:04</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-18 04:03:10</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">139897</td><td>2026-10-18 04:01:12</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">169</td><td>2026-10-18 21:58:04</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-18 23:08:28</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1792364952</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">471</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">648</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1859</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">779</td><td>2026-10-18 04:01:13</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-18 04:02:18</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-18 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-18 04:01:12</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: eia930, eia930_subba, engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-19T05:10:08Z",
      "id": "urn:prexel:issue:de8b399a-0e63-58f2-8c15-f3bcf19d9fb5",
      "summary": "Prexel daily — period ending 2026-10-18. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 48 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-18-daily-915c199cbba0.html"
    },
    {
      "_prexel": {
        "content_hash": "55f7bc03bb69d6bdc989453d8ddac138085123bf6c31abc7a870747c45e3611a",
        "context_hash": "e78072a212d546a205feb0212eadb0e53d5146c42bfab58ee540ee39235609fd",
        "kind": "daily",
        "period_end": "2026-10-17"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 47 (daily)</h1>\n<p>Period: 2026-10-17 → 2026-10-17</p>\n<p>Context hash: <code>e78072a212d546a205feb0212eadb0e53d5146c42bfab58ee540ee39235609fd</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 17 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ◆ Mixed — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Utilities vs S&amp;P 500: ◆ Mixed — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>VIX term structure: ◆ Mixed — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>PJM load-growth difference: ◆ Mixed — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-17T04:04:14.914665+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 11 bullish, 8 bearish, 13 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-10-17 04:04:10+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-16 23:43:53+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=3.3010659620991247; b200_h100_ratio_change_14d_pct=0.09433292524194545; b200_offered_usd_hr=8.806510416666665; band_measured_pct=9.433292524194545; band_pct=5.0; h100_spot_usd_hr=2.667777777777778</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 3.3010659620991247, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.09433292524194545, &#x27;b200_offered_usd_hr&#x27;: 8.806510416666665, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.433292524194545, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 9.433292524194545, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.667777777777778}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-16 23:43:53+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-16 23:43:53+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=0.17647057356902263; h100_depth_smoothed_3d=36.0; h100_dispersion_smoothed_3d=1.7618132829666138; h100_price_change_14d_pct=0.07873095407245322</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.17647057356902263, &#x27;h100_depth_smoothed_3d&#x27;: 36.0, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.7618132829666138, &#x27;h100_price_change_14d_pct&#x27;: 0.07873095407245322}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-16</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-16</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-16 23:43:53+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=-4.797780548046599; band_pct=8.0; h100_spot_usd_hr=2.667777777777778; spot_trend_30d_pct=-0.047977805480465985</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.797780548046599, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -4.797780548046599, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.667777777777778, &#x27;spot_trend_30d_pct&#x27;: -0.047977805480465985}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:01:37+00:00</li>\n<li>interpretation: Up 8.7% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.68%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.67592005202682, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.67592005202682, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3147829854, &#x27;total_tokens&#x27;: 237492963109125}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:01:38+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.22pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.21645219202663668, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.89206916967926, &#x27;top10_share_change_14d_pp&#x27;: 0.21645219202663668}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:01:38+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 14 cuts, 11 raises.; Fixed-basket price at prior-day token weights: $0.694/Mtok.; Seven-day like-for-like change: -6.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.409608294935598, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 346, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6936049797569197, &#x27;like_for_like_change_7d_pct&#x27;: -6.409608294935598, &#x27;price_cut_model_count&#x27;: 14, &#x27;price_raise_model_count&#x27;: 11}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:01:38+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -1.04%.; Token-weighted effective price: $0.686/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.035301627964369, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -1.035301627964369, &#x27;effective_price_usd_mtok&#x27;: 0.6856346216721937, &#x27;matched_model_count&#x27;: 346, &#x27;total_standard_tokens&#x27;: 162454486936595, &#x27;unmatched_token_share&#x27;: 2.906344313813116}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-16 05:40:19+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +153.8%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 153.78151260504205, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 153.78151260504205, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:01:38+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +21.07pp.; Open-weights share of routed standard tokens: 73.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 21.072270841332823, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 20.49820619569681, &#x27;chinese_lab_token_share&#x27;: 71.32233546949425, &#x27;matched_model_count&#x27;: 346, &#x27;openweights_share_change_14d_pp&#x27;: 21.072270841332823, &#x27;openweights_token_share&#x27;: 73.65858659195754}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-15 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: revised in bronze; source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-16</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:03:40+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $43.72/MWh vs prior 14-day $53.52/MWh (-18.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -18.305793475248006, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 43.71992458333334, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.51655453081232, &#x27;caiso_da_trend_pct&#x27;: -18.305793475248006}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:03:40+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 13.94 MMBtu/MWh vs prior 14-day 17.44 (-20.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -20.07128026318733, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 13.939017760254663, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.439310683509905, &#x27;caiso_heat_rate_trend_pct&#x27;: -20.07128026318733, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:03:40+00:00</li>\n<li>interpretation: PJM total load growth is tracking the CISO/ERCO regional mean within the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +9.73% vs control mean +9.81% (gap -0.08pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.07916825105058223, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 8.52304636002974, &#x27;dc_load_premium_pp&#x27;: -0.07916825105058223, &#x27;erco_load_yoy_7d_pct&#x27;: 11.09495688123395, &#x27;pjm_load_yoy_7d_pct&#x27;: 9.729833369581263}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:41+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +16.22% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 16.219478737506318, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 16.219478737506318, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-16</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Down 14.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.21%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: 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accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-16</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-16</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Down 3.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.17%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.17079090435949684, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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04:02:54+00:00</li>\n<li>interpretation: Down 26.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -26.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -26.413262562711417, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -26.413262562711417, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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&#x27;aib_bronze.equity_ohlcv:e55bed15f113c63038d81130cc79466fb45b98b19f974e0597c4277d9fb20810:f89600431e90e8cfcb164489f5a39cc866ed5315efee52611cc010e80d6397ef&#x27;, &#x27;aib_bronze.equity_ohlcv:e59ecd0e903d1876d0e20b55af66acb7341f0319287410d23216240a0a328c71:82051670798169aacc746eb336438d1a84004c049a1a63a9c8ed51b298f79bfc&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 101.39822977434861}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Down 2.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.3592432477384295, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.3592432477384295, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5770b855f01b8e203f4545b5e221313157c0a81a7818eae18c2b85525b9f8ce0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;SOX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;b88ce3faf9b14f32be1363712fc1a3ac09301fbe8208947ea60382e59aff3e5f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ce9cf2ca0f331204b00298b0bc9b275d742692cbb6dedc5075f2b09b0ca8728c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;51dd1771d6a732bfaa03c98a923448178e9eaf69c9a417b0b0161c3d00486158&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;SOX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-17 04:03:01.314000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: 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&#x27;aib_bronze.equity_ohlcv:47ae4e58d09a7c58e7a82b231557f001ec135b0028acbe2c50c6a375235e0629:959c6caa2cf1ed1e3c542ad5508fe989c44eed5b1794c7d1e401462041a1f2b9&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: 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&#x27;aib_bronze.equity_ohlcv:f8e90bf70ad442b47a35a4e4dca62c3c7a768db489745d45b922144ea68fcfd7:26015141fa7557d83ce8cddcf9ea844d6b251c09761c914a09625e3f48438124&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 124.70558777537495}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.09940312657764627, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.09940312657764627, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;JAAA.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;e958afe412ec46c7297550ff6fc559964b5609a41a5ff972ad4f1ca2f1a954c4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;98a4fb70247aca3bcbb907a8b05ebb62433a5e878805f4b5927562ba94207ca0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:741c26d9a7edcb62b3cc51fff2bbfd10fd992e0d531d9ff274c268959c9c03f8:2de22a9a58da9fa0df551ff603716470cac3335e36a28b419a010a07ba41b01a&#x27;, &#x27;aib_bronze.equity_ohlcv:76f77efcf02c11812af5e0d1d04d11f79e029446d7645169d251dc9e5fba2e74:abece2c4faa58d91bbdcfcf7a3039b2d55cbcafcfcc484b7b16aea0e9ec7471f&#x27;, &#x27;aib_bronze.equity_ohlcv:8e68e9312cfc5a47fdb5ba5408c92da3568c195861e584f70e8364057f8b17a8:02379d673163c6f975eb72d7f1c573abea0b5f79ef2c865724ea832cffa2c4a4&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.28060338183286}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Down 1.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.98%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.9808955022280852, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.9808955022280852, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;a8916e4272486f01a7c432d93ec94775c3a60d2115cee58bed13034d27b52cbd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9394561b00387881728ed79321d91af26432f6d59c552fa44a12d2b4355f0da3&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;06896e3b1c68c39ca11cc92e855b2f731aad4c52326b8417e64e3e98c0dc799a&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;4a594e8014de470819b1b21658157ba06b4feb2318a8b98d507fe4d40379ccbd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;aeb4b7601ab42cb6ad06ebb812b1a750c2a86cd18f7dfefad92cd7b8d9e3a439&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2941b5253307669ba1974b9cc69c75ce59fc811c8bb771f9fe84880300586202&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-17 04:03:01.314000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:48a6759187e1b6dbf9703934a901a450040711b7a3174fa60b3c7405480889bd:c88b6945dcbaebb1344e7f66675bc8fe0687b1fbba35f59ae9f1fd61afd0bbf6&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:92e045ed46ecba4d52791cdb262536f22a1a8b563a93922a573342b22a77a54a:9d2afbc4c900d25dece6fb166254f2d385839fe819ed1cbe8d3890901dbe51e7&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9548316720d05f535bcd088e9464f4570d43e8a1bc952d731b25e347ce870d14:8e5c3e095ea679de01d276810bc315fd6d7aae379cb4b269c6c1fc6475ff21ac&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:80e98d71a026c99be36bd3a503c92c5a2a59d10e932e21c2562fcc804c16085c:cee106b0d0c2f183bfbfef000f0f85a66be0ed1f2dd9274d80bcf5a4c36cd400&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:48a6759187e1b6dbf9703934a901a450040711b7a3174fa60b3c7405480889bd:c88b6945dcbaebb1344e7f66675bc8fe0687b1fbba35f59ae9f1fd61afd0bbf6&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:80e98d71a026c99be36bd3a503c92c5a2a59d10e932e21c2562fcc804c16085c:cee106b0d0c2f183bfbfef000f0f85a66be0ed1f2dd9274d80bcf5a4c36cd400&#x27;, &#x27;aib_bronze.equity_ohlcv:92e045ed46ecba4d52791cdb262536f22a1a8b563a93922a573342b22a77a54a:9d2afbc4c900d25dece6fb166254f2d385839fe819ed1cbe8d3890901dbe51e7&#x27;, &#x27;aib_bronze.equity_ohlcv:9548316720d05f535bcd088e9464f4570d43e8a1bc952d731b25e347ce870d14:8e5c3e095ea679de01d276810bc315fd6d7aae379cb4b269c6c1fc6475ff21ac&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.08976999416844}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.19076075817572313, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.19076075817572313, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5770b855f01b8e203f4545b5e221313157c0a81a7818eae18c2b85525b9f8ce0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;d9432e63b82530df887e7c1cc2ea0280243992eb05fd09c469fd49018ee7ffc0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;53a23120dddf219cd2846cf6ff5c7de8621645dda6637e287494858b87c3263a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b32815fc339c64f32a2b176650a046a0c2490165a946a03890c655560445e37b&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-17 04:03:01.314000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4d88da447ea0d0aff6ea27b22f40b165dec832d23990e5dceff7d45e2172098f:2b270b981f1f1fa9438e129ed516e6f887398795a837ece91c484113229db8d1&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2d0e2a641215174ac26cc9edebbbdeea35335f5ca002d7f101c404c03f30826c:7e331ca7ea445d1f011a91efb58f7e6ce65956a377d6b1562286cd3834b3e16f&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2d0e2a641215174ac26cc9edebbbdeea35335f5ca002d7f101c404c03f30826c:7e331ca7ea445d1f011a91efb58f7e6ce65956a377d6b1562286cd3834b3e16f&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:4d88da447ea0d0aff6ea27b22f40b165dec832d23990e5dceff7d45e2172098f:2b270b981f1f1fa9438e129ed516e6f887398795a837ece91c484113229db8d1&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.1124455628535}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Down 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.5792362285095054, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.5792362285095054, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5770b855f01b8e203f4545b5e221313157c0a81a7818eae18c2b85525b9f8ce0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;8a53e9f5366cb4bf8393216e0ce759fe6d3d53b242f97c6fafdc3ca78e83fb12&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7ffe8d76f6c573dd4cdc3f3267bfbc76b699c078d5df3e684381d3e448b27a22&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;02072d798bcc6a23d9921f28a7bf73517a7e2fad1f00bf70ae01dbdab4ee0033&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-17 04:03:01.314000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d8dbef1866f5674305f27be92255c1b2bd43f607071d16b8bb6cfb7d880672c:4b53b1ce252c950a91dc149c893761d9d979299b665ca67dfbae7680e7394223&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:673c06cb260620837037edb8f9701b448b55c39c25955940735f9f7c7ee52987:34f04fdf961d3d9d802de96f199a7d019791197ec1ca6ff4175a575296c58556&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0d8dbef1866f5674305f27be92255c1b2bd43f607071d16b8bb6cfb7d880672c:4b53b1ce252c950a91dc149c893761d9d979299b665ca67dfbae7680e7394223&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:673c06cb260620837037edb8f9701b448b55c39c25955940735f9f7c7ee52987:34f04fdf961d3d9d802de96f199a7d019791197ec1ca6ff4175a575296c58556&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.28788476114399}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Up 1.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.46%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.4589980233418176, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 1.4589980233418176, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;83610d450374ed0a05a2e2ae80795307018d7e42c1653dccda477673c7c01118&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e416ce45ccb11629bf76fcec4a5025bfdc9d05fdc5875e465a5a7150e3e6f4d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5770b855f01b8e203f4545b5e221313157c0a81a7818eae18c2b85525b9f8ce0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;f920f0cd9698c64a4157310b422e6c727d4229612de404a36c799ed4dcd9d1c2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0c3cac94db5e632e6bb82b5b2f25e15c6c218b777938fa51e8cf49a0c589be38&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7fece43586017271175ca5f7bb2d3ca8c219e269b3c2bca6c80ea75662dd9618&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-17 04:03:01.314000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b7d98b8f8448f0d5bffd8377d5c0cfd77349f2d1f8dba996b81d72d9f026561f:758fb7a57186761c0ad2841e424b9f4f9cd9966389deec558ef430f9e67e2b44&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0b85c9d24a5f54805c7ae7454c037fdbfa7d37f2bab2435f0e787aa820da4658:d056b282e9788974bc3c0631a509448c1063e59ce74c763abe87172e3a91c506&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0b85c9d24a5f54805c7ae7454c037fdbfa7d37f2bab2435f0e787aa820da4658:d056b282e9788974bc3c0631a509448c1063e59ce74c763abe87172e3a91c506&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:34d3d4fdd3bf19d1872a7b47dc723a933cc78a3f750c071bdef0e2a9b748b30d:2ffde696584341c8af4268e0bef58c5623fb63a13a283cefb7ba024b0b91118e&#x27;, &#x27;aib_bronze.equity_ohlcv:b7d98b8f8448f0d5bffd8377d5c0cfd77349f2d1f8dba996b81d72d9f026561f:758fb7a57186761c0ad2841e424b9f4f9cd9966389deec558ef430f9e67e2b44&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:f56f13e10f13148d6203c780d26620abfeac24b4c13ac6a7b5c283df61b836a2:6ba646c8e79bd5fb5844f45a26e7f8e2fe2d0e6f4f525ed7f4e6ec6c3dc04b3c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 92.09019558021183}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ◆ Mixed</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Front VIX at 0.97× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.975.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 185, &#x27;epoch_values_hash&#x27;: &#x27;f392c9ff2eaad6d86f55291522530bf7489cd6a1ecd9e28c285b80f0a3182ebe&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;40e554ec25d285c384b18c3a40665f2b18a7f1442a1bd51e354a1edc06cc1cd9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 562, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1cfa54a07ae8716e0c9a96d30422bf2dfed4de4cf05e13881627179dd368d252&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;a624166fb942bd0222bccbf569a4c58ace30c3c97852aca305d378b31fa118dd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4c3de206bd834dab4eb9330f50f83a29c0cb975330a024ae1fecb7d80fa86365&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8a0f1981beaa05241a054139a64112b91a1a20d7ad7b8eb3009bb779c3f7a41b&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-17 04:03:01.314000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c5f0c52e331cc59f743ec24bb83255c6b6eb0cd674d47a5c742b0438453ff67a:8d6c6c40c76b97f1085659fa47d5a6a9e253df6125b594ecdddc49c2afd909e4&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a08b14b2b7939f65b9850b69bcd0f84cd3f35be41cca6fe4424d3c58c3c11648:a5dc53223a4b2becf3a30b768934806427ad38868b297427320b2b9b636a6863&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b6a0eae3514308fb5bb8811ef33827820c56281120a5bb04c080d60b201cc05b:85ecc0885677b4c7f7baeb83a8b4f156a6fdad4cd4efe0ef48c7224a680dde76&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0cb5c682254c6d3df01676d021d3af0b1cc33c6662f752d8e1c74b39124f522c:74e5b6c68115d0a0914532e2f29a6d5fc70dbfa089136a95427f9d8bef38df51&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0cb5c682254c6d3df01676d021d3af0b1cc33c6662f752d8e1c74b39124f522c:74e5b6c68115d0a0914532e2f29a6d5fc70dbfa089136a95427f9d8bef38df51&#x27;, &#x27;aib_bronze.equity_ohlcv:a08b14b2b7939f65b9850b69bcd0f84cd3f35be41cca6fe4424d3c58c3c11648:a5dc53223a4b2becf3a30b768934806427ad38868b297427320b2b9b636a6863&#x27;, &#x27;aib_bronze.equity_ohlcv:b6a0eae3514308fb5bb8811ef33827820c56281120a5bb04c080d60b201cc05b:85ecc0885677b4c7f7baeb83a8b4f156a6fdad4cd4efe0ef48c7224a680dde76&#x27;, &#x27;aib_bronze.equity_ohlcv:c5f0c52e331cc59f743ec24bb83255c6b6eb0cd674d47a5c742b0438453ff67a:8d6c6c40c76b97f1085659fa47d5a6a9e253df6125b594ecdddc49c2afd909e4&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.9751219512195122}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-17 04:02:54+00:00</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.97%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.973402264219749, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -2.973402264219749, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;f5f9b72bf4dc2351386942e67f93088e080f2fb5fc6ed7f517f2d1646c204d85&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6daffe38ea3e18b354f023b5ec21a4fdb010245300f64b6e2ad0cd9e7eb59824&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;793ba1eef297640158c8275ff403484e1d5b64fcfb068672f55ea0565a08b327&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;e3b32d5e63513efd47b57c7597fcac68e2de589a8df689abec6167586c674c2a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c3b6f57e52a19cf54417c49d5bd745f39fad6b26f7f17702f6f6e4fa16d345ce&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;14ab4532803b0f505cf55d65203ee11122cd5a1e62e88423c5d15ba020189542&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;4a594e8014de470819b1b21658157ba06b4feb2318a8b98d507fe4d40379ccbd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;aeb4b7601ab42cb6ad06ebb812b1a750c2a86cd18f7dfefad92cd7b8d9e3a439&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-17&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-16&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-17 04:03:01.314000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f195ccea056c106a120d91498ca7947c8194de7e1a3f9756ee6b4d6ac4d252c2:69ac7abbdcdcb32251dff20ae38c887de24682db77798d74b987e33ffd710fb5&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-16&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0153c773cec867134464c963fd55658ed70a638170019bd36d606ab5bcc2dcee:5cd5299dce48fb1a03de5add617a6863327c5f054b4cab2847e35216fefe2a6f&#x27;, &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:1ec721d341a82146c5aaec1575ab885ab104195e98fbb22aef5a19e404c3cb42:5cf79ba65216c4f08ce1dab93ab78cf0479fa67e67061170b37c6537827f2c95&#x27;, &#x27;aib_bronze.equity_ohlcv:239d115c7037795d109d27fb2913906a0e6b094ce3f3f53b6d2d538c87a7c579:637e49fc853e10491f5517d662e5996de20b4f97e05e81e7ea5177ba09b3532a&#x27;, &#x27;aib_bronze.equity_ohlcv:324d4028cfa49019695b94607bb4d6081a45fc733beb6195d43c99c5f9a23651:30866f5723ab4eeb6ab83e00806f7cc2b9b1aff10326c0ced3b6a8415da4a041&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:4f36bddb38243f7c1a08c1e49cf2bb856d1911ffa3071a38f9f6a5018e84a5fb:629964dfe16278e0c346e3f871aff5455eb5241bfd29c81a89dae1ddfa6d7ffb&#x27;, &#x27;aib_bronze.equity_ohlcv:80e98d71a026c99be36bd3a503c92c5a2a59d10e932e21c2562fcc804c16085c:cee106b0d0c2f183bfbfef000f0f85a66be0ed1f2dd9274d80bcf5a4c36cd400&#x27;, &#x27;aib_bronze.equity_ohlcv:92e045ed46ecba4d52791cdb262536f22a1a8b563a93922a573342b22a77a54a:9d2afbc4c900d25dece6fb166254f2d385839fe819ed1cbe8d3890901dbe51e7&#x27;, &#x27;aib_bronze.equity_ohlcv:f195ccea056c106a120d91498ca7947c8194de7e1a3f9756ee6b4d6ac4d252c2:69ac7abbdcdcb32251dff20ae38c887de24682db77798d74b987e33ffd710fb5&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.80591719880235}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-16</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-16</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-16 / 2026-10-16 23:16:07+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,022B (conditional on an IPO), -14.74% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $440.; Probability-weighted bucket midpoint: $1,022B.; Seven-day implied-cap change: -14.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.740783713939154, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0335, &#x27;full_set_prob_sum&#x27;: 0.9994999999999999, &#x27;implied_cap_change_7d_pct&#x27;: -14.740783713939154, &#x27;implied_cap_usd_b&#x27;: 1022.3880597014925, &#x27;ipo_by_2026_prob&#x27;: 0.0425, &#x27;no_ipo_by_2026_prob&#x27;: 0.966, &#x27;volume_24h_total&#x27;: 440.0}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-16</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-16</td><td class=\"num\">121,040</td><td class=\"num\">24</td><td>—</td><td class=\"num\">21.99</td></tr>\n<tr><td>CISO</td><td>2026-10-16</td><td class=\"num\">681,086</td><td class=\"num\">24</td><td>—</td><td class=\"num\">18.22</td></tr>\n<tr><td>ERCO</td><td>2026-10-16</td><td class=\"num\">1,332,142</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-2.694</td></tr>\n<tr><td>PJM</td><td>2026-10-16</td><td class=\"num\">2,170,492</td><td class=\"num\">24</td><td>—</td><td class=\"num\">9.699</td></tr>\n<tr><td>SOCO</td><td>2026-10-16</td><td class=\"num\">653,896</td><td class=\"num\">24</td><td>—</td><td class=\"num\">8.972</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">46.1</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">39.56</td><td class=\"num\">0</td><td class=\"num\">-6.538</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">42.5</td><td class=\"num\">0</td><td class=\"num\">-3.6</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">82.03</td><td class=\"num\">0</td><td class=\"num\">16.13</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">65.9</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.668</li>\n<li>as of: 2026-10-16</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.04798</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>revised_in_bronze</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>410 benchmarked model identities; 242 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 13,096,617,834,852</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 5,049,702,226,680</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,352,172,122,209</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 4,543,721,241,524</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 465,999,024,876</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 4,397,793,343,807</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,596,099,476,084</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 349 eligible configurations.</p>\n<p>Usage window: 2026-09-17 → 2026-10-16. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-17 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;590225ef16f9c54d5f3ded678e401399d614ceecab60c14a8b451fff1728ac3e&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;02e00ec2aa9b3f97a52fb8a7f15c2b5866f30e2c52ed15db1af5c9ada4e26841&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;b45349437d0394a38d9fe36b40d6612cfb173632686c50ffdf1c20167ecc8cdc&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-17 04:01:39&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-17 04:01:46&quot;, &quot;record_count&quot;: 1851, &quot;records_hash&quot;: &quot;c65e1ecac59c77cb9b1420f443c7c54751d108bd90c6f6545bc37492f7cb2d18&quot;, &quot;snapshot_id&quot;: &quot;08d57bd78063633319b9c4183a81f973dd7a5d07132ca57fe639bf3c529af06c&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;cf2d95f5cdb344bb79bc80461804143f6b7f69c27af3cf39b188cb8c08140a2c&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;51fb3d929166490dbb44a05459c4a5a73bc639165c596ebc392d93f7dbf7e615&quot;, &quot;af5f0eb139f1ef31bc246848f0a35e6843cb74a6bd7f70d57c6bfea60eb95b78&quot;, &quot;f6a7210a594ee4c39835ab327b77b2323ff033c9e8b6040d0890472e3e600901&quot;, &quot;228072f392f55525e1aa5a0f2e74ef2de7d7fe072abfbc3715cb37b0199fc9d9&quot;, &quot;4a9339e05c3faa9b487a429d5a682ff70fa15b2ef176b518a493f718e840743b&quot;, &quot;a00a27fe23981aec7b48ac89d66df35bdcd6e8fc20d6ef1cd28baaf33117cc99&quot;, &quot;35ea4c2c0ec1a4a8f910904e8c29c2a050c116994abf46c7ca60f069370426df&quot;, &quot;d576fb8cdc4e96f862ffbd12b731f7116559a4d9c8e0a27fe649b9188ce698a5&quot;, &quot;a771b617774d09522e2d56c887b93f2ab359d0da8ae519886d361b02794e0619&quot;, &quot;aa828f8f128178608b1bb2f8dc1fd325e27af17ea5acbacb9e26ddb95b2d7212&quot;, &quot;72949a6f9a02a156a76e603ccd9bacf26342938b92bb65fc24ff5ebf16cf15d6&quot;, &quot;d089841a3196b7453df27ae317c45d1f28aa278d9321a089e22cafa8943c5246&quot;, &quot;f8b84af51a19996e0087ce0a8bb0d8af2e48afb3f8cc03724c92f623e2e6b713&quot;, &quot;f4d40cc95b6f566b0eaa399c9588e902f7c651aa59c7dbf2c116daea4f975541&quot;, &quot;9814a234273092efe1fbc48c56d67ea7875f3c834b9e6491cf725ead0c76a13c&quot;, &quot;b9e3887e6fbe20e72990e868c5a9c22517d62eecceec903602a48848376f497b&quot;, &quot;247ca7dd828efb38282e2973b556d5d7050acb2ff874edb880b636837f84b034&quot;, &quot;2f41d951f5200319a04add1332e072bfe1767cc4168dc2fd4bd698e0451c9133&quot;, &quot;6a67103c22440489243ba909e0b4f3b63c4561528142d916a374917dc78262eb&quot;, &quot;c2203f262dcbc0d23a7386e72d8d10224df848a8da42f283bb7a256d4e541121&quot;, &quot;a3cdbcf9f450a3398cde179ee7261a962bde49afd86a23432f74b43bb297ca21&quot;, &quot;bfe6c46faf9f9f93f9b68d8e57de811b68407bc8cec8ac5b091cc03c356fddda&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-17 04:01:47&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-17 04:01:49&quot;, &quot;record_count&quot;: 777, &quot;records_hash&quot;: &quot;dd927db56d51c1e2e592237289a6467a238f4ce02965d9901117c3882e86024a&quot;, &quot;snapshot_id&quot;: &quot;9c95b8ec8a4540abcd61439ca02f6b2cd816a06570607bd50df6b852292c8215&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;13f8bfae0cd6300f4f31c0f042e0c28f284ee24611b1a30f866414454d835996&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;c71ca95b4002afea1914c60e4d856232efbf7a8090baaa9c9e9da7d345df7940&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-17 04:01:39&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-17 04:01:46&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;c2d51102206f23e783f8f7735e372e1da8c8dbba9ad2e6412f7bbea90238f5dc&quot;, &quot;snapshot_id&quot;: &quot;e963665e441df153b7408bdd36a7b167b6c19113ba602601e7a11d58406ef942&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;50b0e3d4cdd677038d572b6b275f6bc0164053c7b137d7224baebc6f03c54220&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;c060005a4208a928f786a5bb43e5a50a6185a13b2dbc51a3b2bce2df1565cbb4&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-17 04:01:38&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-17 04:01:45&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;7f3b11102717f891ad1edecff8e90856ce090813c24f93c670bcd8524bf0f498&quot;, &quot;snapshot_id&quot;: &quot;e235190d0de4be88229f27ae7580210b3bb61bf10da70381ae71b174f30a2ce3&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-17 21:45:09</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">183</td><td>2026-10-17 04:03:33</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-17 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-17 04:01:35</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-17 04:01:35</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-17 04:01:46</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-10-17 23:57:02</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>eia930_subba</td><td>error</td><td class=\"num\">0</td><td>2026-10-17 23:01:28</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-17 04:03:40</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">139896</td><td>2026-10-17 04:01:35</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">186</td><td>2026-10-17 23:16:12</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-17 23:33:31</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1792280016</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">469</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">645</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1851</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">777</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-17 04:03:40</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-17 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-17 04:01:35</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: eia930, eia930_subba, engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-18T05:10:09Z",
      "id": "urn:prexel:issue:4ef6025d-8c43-5c22-bef7-7cf7cdf957a6",
      "summary": "Prexel daily — period ending 2026-10-17. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 47 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-17-daily-55f7bc03bb69.html"
    },
    {
      "_prexel": {
        "content_hash": "791cba0388c635f1a420b31b6e7b11f4cd72260889cb096355dbc09664d5696f",
        "context_hash": "0dca697cbe0d95a84611eba8dc6b447dfa49082eaa5424f8ecf5c8ad9fadeb6f",
        "kind": "daily",
        "period_end": "2026-10-16"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 46 (daily)</h1>\n<p>Period: 2026-10-16 → 2026-10-16</p>\n<p>Context hash: <code>0dca697cbe0d95a84611eba8dc6b447dfa49082eaa5424f8ecf5c8ad9fadeb6f</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ◆ Mixed — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Utilities vs S&amp;P 500: ◆ Mixed — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>B200 vs H100 rental price: ▼ Bearish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-16T04:02:21.986191+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ◆ Mixed — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-16T05:42:41.663264+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-16T05:42:41.663264+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 30 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 12 bullish, 9 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-15 21:25:38+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.764705882352941; b200_h100_ratio_change_14d_pct=-0.05197036412865237; b200_offered_usd_hr=7.99; band_measured_pct=-5.197036412865237; band_pct=5.0; h100_spot_usd_hr=2.89</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.764705882352941, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.05197036412865237, &#x27;b200_offered_usd_hr&#x27;: 7.99, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.197036412865237, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: -5.197036412865237, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.89}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-15 21:25:38+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-15 21:25:38+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=0.17647057356902263; h100_depth_smoothed_3d=36.0; h100_dispersion_smoothed_3d=1.7618132829666138; h100_price_change_14d_pct=0.09506115191880715</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.17647057356902263, &#x27;h100_depth_smoothed_3d&#x27;: 36.0, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.7618132829666138, &#x27;h100_price_change_14d_pct&#x27;: 0.09506115191880715}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-15 21:25:38+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=3.1324334837695984; band_pct=8.0; h100_spot_usd_hr=2.89; spot_trend_30d_pct=0.031324334837695984</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.1324334837695984, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 3.1324334837695984, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.89, &#x27;spot_trend_30d_pct&#x27;: 0.031324334837695984}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:40:18+00:00</li>\n<li>interpretation: Up 9.8% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 9.78%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.777389686858328, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 9.777389686858328, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3099592233, &#x27;total_tokens&#x27;: 236713675699556}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:40:19+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.35pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.3488246862670934, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.9282095684347, &#x27;top10_share_change_14d_pp&#x27;: 0.3488246862670934}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:40:19+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 12 cuts, 12 raises.; Fixed-basket price at prior-day token weights: $0.683/Mtok.; Seven-day like-for-like change: -7.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.712947263629455, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 344, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6832518173175587, &#x27;like_for_like_change_7d_pct&#x27;: -7.712947263629455, &#x27;price_cut_model_count&#x27;: 12, &#x27;price_raise_model_count&#x27;: 12}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:40:19+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -3.06%.; Token-weighted effective price: $0.686/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.0574666305593245, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -3.0574666305593245, &#x27;effective_price_usd_mtok&#x27;: 0.6859769080812992, &#x27;matched_model_count&#x27;: 345, &#x27;total_standard_tokens&#x27;: 165967185582332, &#x27;unmatched_token_share&#x27;: 2.7508818605899323}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-15 03:59:30+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +153.8%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 153.78151260504205, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 153.78151260504205, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:40:19+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +8.05pp.; Open-weights share of routed standard tokens: 61.6%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 8.052738020151274, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 19.799231072698348, &#x27;chinese_lab_token_share&#x27;: 71.50725945769723, &#x27;matched_model_count&#x27;: 345, &#x27;openweights_share_change_14d_pp&#x27;: 8.052738020151274, &#x27;openweights_token_share&#x27;: 61.59591655853044}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-14 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:40:34+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $44.61/MWh vs prior 14-day $52.76/MWh (-15.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -15.455369207829287, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 44.608220595238095, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 52.762925542717085, &#x27;caiso_da_trend_pct&#x27;: -15.455369207829287}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:40:34+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.36 MMBtu/MWh vs prior 14-day 17.23 (-16.7%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -16.677348781535144, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.360428700760872, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.234723680490024, &#x27;caiso_heat_rate_trend_pct&#x27;: -16.677348781535144, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:40:34+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +9.11% vs control mean +10.95% (gap -1.84pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -1.8421433578003565, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 10.173511138720771, &#x27;dc_load_premium_pp&#x27;: -1.8421433578003565, &#x27;erco_load_yoy_7d_pct&#x27;: 11.728562579260123, &#x27;pjm_load_yoy_7d_pct&#x27;: 9.10889350119009}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:40:24+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +14.18% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 14.18326736120962, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 14.18326736120962, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Down 12.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -12.54%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -12.542369465073143, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -12.542369465073143, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;e7202ff28b499e5c7974e639d07548bc2e80dbf906d1da27e5d9e73487497295&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-15</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.0042718864327522, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -3.0042718864327522, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;99e9207449f819d8072e737a16e6a11c450e8327a3e8162a672fedac117912ed&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9f61eb3ec90b4b6dede3d24a9b212271463f1386b44c5c41c47bf54324a54592&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;86314d3775e2b2fc8b3a5304e3d71ab4ea36db021bafbe1407de198895d52122&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed68045636735ec4394b235672d7e1e9d9725f7f2125f710cf3e2fe3945d901b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;896a5cdff4a1bb5b9e6f1047d889f5d266d8c40e6a71ba30f5de84c8ff30afc2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;9b9dff0644f6bb03956f878b9b0f803f50ff0131834f014ec4d1e06e2e787c01&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f18f3220d27497f919d4749362cfaf71769d2ede4606a83883872376cdb39b5c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;de9c8327067737ceb207b362b04602f0fe8f0632b849dedebb9f43a9c4deaeb2&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-15&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-16 04:01:11.463000+00:00&#x27;, 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&#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;, &#x27;aib_bronze.equity_ohlcv:fbbe3d5b35aeb4b28a42d9cd8ebe08b3a9bc5d5a3690bd366cf113096bd73605:21640ba87f9ca5942209891278b872c583bb56d5947481e4f5c67a1c27209571&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.56946644358952}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Up 1.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.85%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.8456836432937163, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.8456836432937163, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;AMZN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;68391422df43433d33946b81ee91235dbefb8279bab2ff46291ee4879cce2822&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d6407bc0b146f2bbd6fe3a0a98a30d8e0f5cfff1fa04292d9fbe6a64a137af74&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c8904a98a18b60c1489fbdf286513c26321836635722712030edcd954f94829c&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, &#x27;GOOGL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;aeceb5a756186e83d4932ee1424c9b4cbd2ae565f23742315828152fb99b66ef&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;46a28ff5f002c63137cd3f8c33187042971120a5792ed666ac1b480e99efcbc4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f923edf4a438c0db21dddeb53d4e0c62d8600f3834334c846a02975bda9d186b&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;86314d3775e2b2fc8b3a5304e3d71ab4ea36db021bafbe1407de198895d52122&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed68045636735ec4394b235672d7e1e9d9725f7f2125f710cf3e2fe3945d901b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;896a5cdff4a1bb5b9e6f1047d889f5d266d8c40e6a71ba30f5de84c8ff30afc2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;META.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;06bad78e94d6c90fb6f18eb40b8a8192bfd9ade62c683cfdb957342dac261016&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;853903233e780220dc22c224ffb5f611cc630187dfb368a1a7bad56b6ac49abb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f5b634711702dc7220bad268015d627c4271e7b49c2d07b75710c098ae06d4b3&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, &#x27;MSFT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;db577a6368a403a002067e05f44c61b7e5927a4ba7376c9887f348d131416efb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d5264184b172928d04633fe02db858e1e026275253d6dd56548ff029cc76be23&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d9489bd376ed01902085ffe9ff2ea1d40d4495aca4dea1344e5e11404ba21032&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, &#x27;ORCL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;b20c1d4a45ea096b3ae16ef10015df60f80223e1aa2758d8ba019940a877b2cc&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5c005af70e026566ba3cc620a14ce6cb8ba25597156c64ec5f702f4ca4264455&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ae8e586d765dbe16c3ebed351aaaa07490a19264602d0b6fa4691589bd36b102&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-15&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;MSFT.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;AMZN.US&#x27;, &#x27;META.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-16 04:01:11.463000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2b193de27044f7a1edec17509a35ed84dbbe94ac3e38e7acd559d71cabba2603:f694a4a42c20cec7989a3fde43ce8c7437d31dcbfc7b8a3a423ed8bfc6205c38&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:71311d00e4064c624cecce8e005881fd69a9adba612af30603239d8a1b348f9d:f47f1df4a199cfb19dfe1a3810561195395888ddfac42682a662304d8cbe881c&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:7b456bbd6e2a09276bd6b58dc210a565d99e90dc66a85f13146586aff3f349f2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bbd5cebce1bb26cd7e4460b843d71d859c4afa4e1420ea2ae52738dfd4a031e8:47bf7826673c235d7768b90106b5e140c732ba1d1b36bfb5082c4b928553592d&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:95eb9a454315ddb7146bab4dd2323cd189eeee0c2bc4e9c0ac041753fbe9d9dd:616139f6f3a63930d730ddae837a4710504498a793e9d7f2315b18256d0e5ba6&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5ce0baf40718136c7f57157f094bcb508e2184973a32222dbe8f2636c94f3cff:56cb6bc907fae44a75efd01f0c713cb91e5e91d6fa129e157ebd6fb6557145f7&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e95bcb88bf4793cd3c97ff8ccfd987570493a9c15a057b520144a6cf5b7dd687:8aec59aabae8bfe2c2e7f21f8e3d59042c959a8899ef880b04a42a5353baeac3&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:99a6c567200b9efe75f7564a5ee95b81c906d8ab26efb60d021ba7dd825d8355:713d681b2a79a401c28678b946050ea6bc2f5d2d89aa9ccf160c5923b2b5c315&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:660f59e584ad2a2a8a5630fd2661d077da3db39674e2a25adfd419251488f1b9:37154014222f834d692a72afd82d9b2b09a46149932055c171661c72ebb65499&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9939b451f5d30b34eeb89914be812264abc2e3cf083315a09c94f208bd63731a:fe3524de841538204b5af67afd21162a6bd71a6fa7675c498e34d9bf3ca0f1c8&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:06dc748d0b2372f51f64d2e4bab3af30407633b29fb368a31a6aeaa012bdaf10:4feff0f2073c8df243a932ecb3b0c039d264ce15f055b4a601f57e2aae469835&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ac0c048a8680cb50652778bd7c5cc8101a70da9d5c4b39fe1d1ff7fe2e731ce2:770df6e4cb84d75698ec9b17e028655b5d2d94564644cecbf5e391fe9f28177f&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:16c78722f31248c612b3c7f6f605f2c3b602784fd6902667f08411a4474bfd1f:49fa8c739cf3270a2bdd6a0d4bd4afb077941b52b28cfef6b8d9aadc731c752d&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c6dd35bab12405072e1ee4c809b2582635ede4a2958d339b53c54053bc9b0674:674d1209fe9ba2f84d74e8c7b9e2f7c5743dedabeea2d9f79601ad174dcae168&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1de3d08e722a20f6bc587adaab48c20640810eb3afb7c3260ac6ab2f9d44f9b6:d4bdaa77c004e479c28596ff8d2197c3bc42e0c2dcb5894d74e59d005e0cc482&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3c257506b79ee926d426367dec17baaa182d4a08736cc1e739db5917b8a6bfc4:615d0afa8385a5eb512caeabd855ef023ea11269413decf2aaa0cfc730e607b5&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1d18247bb260b4fcfad7f01112ab10b2ed955da47489d1785d2a16f4c43a5921:ac7cbf832dff29a732a811b945439224cfeca9bf95f19999ffec8628b2096e5f&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: 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&#x27;aib_bronze.equity_ohlcv:2b193de27044f7a1edec17509a35ed84dbbe94ac3e38e7acd559d71cabba2603:f694a4a42c20cec7989a3fde43ce8c7437d31dcbfc7b8a3a423ed8bfc6205c38&#x27;, &#x27;aib_bronze.equity_ohlcv:3c257506b79ee926d426367dec17baaa182d4a08736cc1e739db5917b8a6bfc4:615d0afa8385a5eb512caeabd855ef023ea11269413decf2aaa0cfc730e607b5&#x27;, &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:7b456bbd6e2a09276bd6b58dc210a565d99e90dc66a85f13146586aff3f349f2&#x27;, &#x27;aib_bronze.equity_ohlcv:5ce0baf40718136c7f57157f094bcb508e2184973a32222dbe8f2636c94f3cff:56cb6bc907fae44a75efd01f0c713cb91e5e91d6fa129e157ebd6fb6557145f7&#x27;, &#x27;aib_bronze.equity_ohlcv:660f59e584ad2a2a8a5630fd2661d077da3db39674e2a25adfd419251488f1b9:37154014222f834d692a72afd82d9b2b09a46149932055c171661c72ebb65499&#x27;, &#x27;aib_bronze.equity_ohlcv:71311d00e4064c624cecce8e005881fd69a9adba612af30603239d8a1b348f9d:f47f1df4a199cfb19dfe1a3810561195395888ddfac42682a662304d8cbe881c&#x27;, &#x27;aib_bronze.equity_ohlcv:95eb9a454315ddb7146bab4dd2323cd189eeee0c2bc4e9c0ac041753fbe9d9dd:616139f6f3a63930d730ddae837a4710504498a793e9d7f2315b18256d0e5ba6&#x27;, &#x27;aib_bronze.equity_ohlcv:9939b451f5d30b34eeb89914be812264abc2e3cf083315a09c94f208bd63731a:fe3524de841538204b5af67afd21162a6bd71a6fa7675c498e34d9bf3ca0f1c8&#x27;, &#x27;aib_bronze.equity_ohlcv:99a6c567200b9efe75f7564a5ee95b81c906d8ab26efb60d021ba7dd825d8355:713d681b2a79a401c28678b946050ea6bc2f5d2d89aa9ccf160c5923b2b5c315&#x27;, &#x27;aib_bronze.equity_ohlcv:ac0c048a8680cb50652778bd7c5cc8101a70da9d5c4b39fe1d1ff7fe2e731ce2:770df6e4cb84d75698ec9b17e028655b5d2d94564644cecbf5e391fe9f28177f&#x27;, &#x27;aib_bronze.equity_ohlcv:bbd5cebce1bb26cd7e4460b843d71d859c4afa4e1420ea2ae52738dfd4a031e8:47bf7826673c235d7768b90106b5e140c732ba1d1b36bfb5082c4b928553592d&#x27;, &#x27;aib_bronze.equity_ohlcv:c6dd35bab12405072e1ee4c809b2582635ede4a2958d339b53c54053bc9b0674:674d1209fe9ba2f84d74e8c7b9e2f7c5743dedabeea2d9f79601ad174dcae168&#x27;, &#x27;aib_bronze.equity_ohlcv:e95bcb88bf4793cd3c97ff8ccfd987570493a9c15a057b520144a6cf5b7dd687:8aec59aabae8bfe2c2e7f21f8e3d59042c959a8899ef880b04a42a5353baeac3&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 94.47644129844244}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Down 15.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -15.31%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -15.31482825863214, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -15.31482825863214, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;6e3b0d39fc4860384102d65eb167502d4869b4e275f07ea4a9fa859ec2b80569&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7dbd62a2c0097c8aa432a5f7ec5e55d868b0e4b572b7b48fffc97ca931a055a8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6f42bcd78ee16f9c0e8eaf0dd1f83084ab3ca1c56c2ec194cbe0ac47809b5e34&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;92b260bfc0157e1fa7e63b7a387c8477b9305bc20bc7ed45605ace49ea93758c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;3dbc1f9501d43090dd0d11eaf0f255d029b674656c4fd74e0b0ca7f3301cd1a1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-16&#x27;, &#x27;row_count&#x27;: 390, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;76a4313d2ae6d517e3bb5c142dd72ac12aa9935fd554812701c21ad49fe2e856&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;86314d3775e2b2fc8b3a5304e3d71ab4ea36db021bafbe1407de198895d52122&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed68045636735ec4394b235672d7e1e9d9725f7f2125f710cf3e2fe3945d901b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;896a5cdff4a1bb5b9e6f1047d889f5d266d8c40e6a71ba30f5de84c8ff30afc2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;709a64f26a853d8fe41efce717b1b76fe19d4489b19f6be0affdb3371609e5c0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fc568c0f32b72aee0bd63be4f9d029cb3828fb37c203b3a3a5af010c767f8299&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;861e9843ce4eefc5be09967bb01a35facc0a804edbe4ef9a41cb020ae5f7bc5e&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;e678a69b7b01ceeaf63052a12921b46b628f03e6ab30a2a33d1954d898d21200&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;1e89a860f36cefc6aefbed093f4fe93551a6042fd05f3aa3ce927b73c89a154a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-16&#x27;, &#x27;row_count&#x27;: 498, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e8fe80a0d0366fe50015fce197d6a269e96d1c4190997efed28b47242d73a44b&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-15&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-16 04:01:11.463000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:80245dbcf754e258f0dde7164955696cb5fabefb1a69b9af996d69f5fc80be73:a1549d8b3b1517f0080e98d3b9a873433a58292c3ce340b477603268ec4d23e8&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:eaee06d03eef49ed17df215fce5a27d93215da89eb2a9e364e6bd1c86df12a06:da20e79bada1ba24c72182005d3dd88f4355384190be9202612be2f9725bdd71&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:7b456bbd6e2a09276bd6b58dc210a565d99e90dc66a85f13146586aff3f349f2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e599aa9792a75c0354289c185cbec30e6e96ddd992f2baf123f6dac704a77b2c:a02804a67961baeb0d875f4d3c438a4bbf447b348dd2d00a06e631a36004a41d&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77c68e3c13ccf965b67a6a9eecb0fcb2c799abe12dd02e76b4e9093ce2954c64:93696c432443d25ac779c77c04b7f63e7b49ab230821be3123c45714f8f3a1db&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a0e7c2e70e63af04f2a30c448ecd104737e4ac99b25e31f708b1a4ae274b5d47:5a85b9c78ac9d24b07ffe8f765ba8a3be246c5db78c8e9556205a5e9332f7336&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:8fa90a81c0dd9e19a64d86ab47a52ef55a6a1fa3ccd5af26e2369f7018af3ad3&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:50f731b9dbc6f7eb0cfbf97b5de7ec7a61549a71dfbd2987af67c6c9136485fb:bd108b16c149879bb97061d7a6d1908bd814ec208f09d34c9738b626b08e9817&#x27;, &#x27;aib_bronze.equity_ohlcv:660f59e584ad2a2a8a5630fd2661d077da3db39674e2a25adfd419251488f1b9:37154014222f834d692a72afd82d9b2b09a46149932055c171661c72ebb65499&#x27;, &#x27;aib_bronze.equity_ohlcv:77c68e3c13ccf965b67a6a9eecb0fcb2c799abe12dd02e76b4e9093ce2954c64:93696c432443d25ac779c77c04b7f63e7b49ab230821be3123c45714f8f3a1db&#x27;, &#x27;aib_bronze.equity_ohlcv:80245dbcf754e258f0dde7164955696cb5fabefb1a69b9af996d69f5fc80be73:a1549d8b3b1517f0080e98d3b9a873433a58292c3ce340b477603268ec4d23e8&#x27;, &#x27;aib_bronze.equity_ohlcv:989e968423dc9039a50359cc0c9eab6779c28bb4f4cf9cef6bbd369f614bc87d:f819961bb68c4011de4bf4cf792933daaf482f63535d29fd3720ebc6b140042d&#x27;, 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Up 5.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.712176743020758, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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1.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.51%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.5111893422562028, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.5111893422562028, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:dfc8d112b21e1f84e217c787b318e5c7de03a7396efa6956190ea90c4a97b442:8edde558d714588e900ffec110fa055e8d98b361f60b18479e58d3657739e825&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 128.2592643070109}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Down 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:38e8629d62b2789f67bfbfe34f5e74586c8251543ae3bb25d9f0082b04dd7530:f0101f81cdc0b6b436b06e4e0eddc49dd3fe079700c2ca9f547aec12d4f81374&#x27;, &#x27;aib_bronze.equity_ohlcv:4bfeab3132bc9b792cd48fb8e67667e02f3e29d5d3a61bf821bb016857b8befa:c73a6741349911f77d139b198e36bf3a1a3df9e206762c5b10bdeda7d7c69901&#x27;, &#x27;aib_bronze.equity_ohlcv:5498943c71b928747d17b63e1b055dec02ce0a5f62dda082bd3da8d3ac724914:a988a76dedc284b0e12bd3173d6bd7b800e5399a35457165165274387d056a4b&#x27;, &#x27;aib_bronze.equity_ohlcv:6470df688dbd065cf5f4bc19c6124e5410e561e5ebf69d8a79416434e98c02dd:461717ac08c6540cc1c5612eacda60d9b9ab5cbe28d67dd1ee4b3c862c3193bf&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.3738615441498}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Down 0.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.84%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.8401094160813027, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.8401094160813027, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;354ab546e5299aab26e5e6b98ec4f3edc7bb1176bdcc3a4a91a70d1fce61bd64&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2ec356e0dcee5ad4996b6df0f1f457c11ff4edd73acdf53468afa6b422dcde19&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;aib_bronze.equity_ohlcv:869bfb6097e552efc1087b6323aac38dd028de1a4c442ffca2c60b16ceef2779:00f717db99dee560b5d91e8e3727bdc695ca6395820e5da2007c479047d267ed&#x27;, &#x27;aib_bronze.equity_ohlcv:f2a761db38f449a5538c4767b8a950f850162a9eb3479e0b8d852a7740b36f1b:d49157c132e88bfda12ae1e851833b0f4efd769c63f093837d515f237f99eff0&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.34941520222245}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Down 1.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.20%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.1983324288867059, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.1983324288867059, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;86314d3775e2b2fc8b3a5304e3d71ab4ea36db021bafbe1407de198895d52122&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed68045636735ec4394b235672d7e1e9d9725f7f2125f710cf3e2fe3945d901b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;896a5cdff4a1bb5b9e6f1047d889f5d266d8c40e6a71ba30f5de84c8ff30afc2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;12424846e472799ba1bda033afbd37e7234082f4d3eb5c9a2c37a9f7e680e2eb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5e5739c4f4581b8c21ce5eec46c6673498607c6aefa0cadb4ba286418c52acf0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;edddc71bf56362b54377a2d99760d1d61b994cc621c3a69c8863e4cf40c2fee2&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-15&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-16 04:01:11.463000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:7b456bbd6e2a09276bd6b58dc210a565d99e90dc66a85f13146586aff3f349f2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8e7a8c7e264675e8a518d6d00cb86775412b430f515ed69916b29874c25cd615:2b048b80734117a7c9da7f836ab6dea8f0ff8301d2ad5f2ddb1201f6d62a3948&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:660f59e584ad2a2a8a5630fd2661d077da3db39674e2a25adfd419251488f1b9:37154014222f834d692a72afd82d9b2b09a46149932055c171661c72ebb65499&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bcffe0a2dbd83a7dacfd51dfeec676f6adb120865b91fd4555e460305d575dd1:7cec336aaba935d48ea0049b6a9427688fa89c9dcbbbb27493beec319168869b&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:7b456bbd6e2a09276bd6b58dc210a565d99e90dc66a85f13146586aff3f349f2&#x27;, &#x27;aib_bronze.equity_ohlcv:660f59e584ad2a2a8a5630fd2661d077da3db39674e2a25adfd419251488f1b9:37154014222f834d692a72afd82d9b2b09a46149932055c171661c72ebb65499&#x27;, &#x27;aib_bronze.equity_ohlcv:8e7a8c7e264675e8a518d6d00cb86775412b430f515ed69916b29874c25cd615:2b048b80734117a7c9da7f836ab6dea8f0ff8301d2ad5f2ddb1201f6d62a3948&#x27;, &#x27;aib_bronze.equity_ohlcv:bcffe0a2dbd83a7dacfd51dfeec676f6adb120865b91fd4555e460305d575dd1:7cec336aaba935d48ea0049b6a9427688fa89c9dcbbbb27493beec319168869b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.44611437219241}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Up 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.33%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.332960489802737, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 1.332960489802737, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;86314d3775e2b2fc8b3a5304e3d71ab4ea36db021bafbe1407de198895d52122&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed68045636735ec4394b235672d7e1e9d9725f7f2125f710cf3e2fe3945d901b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;896a5cdff4a1bb5b9e6f1047d889f5d266d8c40e6a71ba30f5de84c8ff30afc2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;0dc05875487eb95f184824ab682502f1aaa64b697047f92d353e411a1c517f19&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4fa180541a52980be2d97a3854d5697a61bec064ba6178c4e15f0f3754f992e4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2a1e39951f67eb34301164047cbeb07a92a7a97bac51dd66e485910baca8aecd&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-15&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-16 05:41:42.971000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:7b456bbd6e2a09276bd6b58dc210a565d99e90dc66a85f13146586aff3f349f2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9a933c536dd308dd9b256ede70d73145128539bd03a260ad483a8f9aa30e811c:4dd454200a6af81ea8c4f7784a660927f1a91dec2f6c57ab67ad5c97e34308f8&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:660f59e584ad2a2a8a5630fd2661d077da3db39674e2a25adfd419251488f1b9:37154014222f834d692a72afd82d9b2b09a46149932055c171661c72ebb65499&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d64bd3708b68b76dc322f70b9d5d42fd234151cc8fd05a474ef05a116f35e018:06ce1ec858f1e94b969c05ace0cb4d791f5bd63f451110b004e645022dbb5bbb&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:7b456bbd6e2a09276bd6b58dc210a565d99e90dc66a85f13146586aff3f349f2&#x27;, &#x27;aib_bronze.equity_ohlcv:660f59e584ad2a2a8a5630fd2661d077da3db39674e2a25adfd419251488f1b9:37154014222f834d692a72afd82d9b2b09a46149932055c171661c72ebb65499&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:9a933c536dd308dd9b256ede70d73145128539bd03a260ad483a8f9aa30e811c:4dd454200a6af81ea8c4f7784a660927f1a91dec2f6c57ab67ad5c97e34308f8&#x27;, &#x27;aib_bronze.equity_ohlcv:d64bd3708b68b76dc322f70b9d5d42fd234151cc8fd05a474ef05a116f35e018:06ce1ec858f1e94b969c05ace0cb4d791f5bd63f451110b004e645022dbb5bbb&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.77749958143066}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Down 0.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.54%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.5361724823032876, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.5361724823032876, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;86314d3775e2b2fc8b3a5304e3d71ab4ea36db021bafbe1407de198895d52122&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed68045636735ec4394b235672d7e1e9d9725f7f2125f710cf3e2fe3945d901b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;896a5cdff4a1bb5b9e6f1047d889f5d266d8c40e6a71ba30f5de84c8ff30afc2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;596be4487be7fa72e4e427d3e13b88766626a6d737dfb3d3270c3c742e812822&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;53499820c63667d1635768c5d308d12263278bd91540a059537721613ae09ef5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6e6a1104d4308744f48c8199dffbe358f79c63c6a890fbeab554c2f70617cb5e&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-15&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-16 04:01:11.463000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:7b456bbd6e2a09276bd6b58dc210a565d99e90dc66a85f13146586aff3f349f2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:30b704b133a1a49adb42b7d5414137815bc043c2b219846066fdd872438a2ea3:344eefd88d780acb6a58d8c0c73be1dfcb59be9a71ed8826a56cb13e432b30dc&#x27;, &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:7b456bbd6e2a09276bd6b58dc210a565d99e90dc66a85f13146586aff3f349f2&#x27;, &#x27;aib_bronze.equity_ohlcv:660f59e584ad2a2a8a5630fd2661d077da3db39674e2a25adfd419251488f1b9:37154014222f834d692a72afd82d9b2b09a46149932055c171661c72ebb65499&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:e679a955e08883df3f65ab3c4a5f5a3d169055d90369d61cef83bff4feb419af:0140f1a43e0bf0c297a88c4d7c2ecf9304cb9b47c8b79e72d7691c4ba4bac06d&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 89.87550801581027}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Front VIX at 0.89× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.890.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 184, &#x27;epoch_values_hash&#x27;: &#x27;8f64a6d61fe1ca72e939e4e9c7abeb3567a9b9c01d8ecce8f39c885bf03cc56a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b72d0e20e2a025eb1937ace30689e7b273345a0a256b2bca5461f0da453053c5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 561, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e50a49034006b47847aa18fe19033f8c9f7154e5caf036ab953c01e2a09a5909&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;65ecf02fa9c80ede4bc0f2d2e33897493fcd67e7cbbb65fb33de52e7356d11da&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b824aab5f50f60d928fd3e3bb9e24d9ff6cba15b5298fc104d6c1a9372cea216&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 553, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;0c9ef2aaf9b8a78770229aa799fdc5b023dae2bd1e2413d0885325d772de6a6e&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-15&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-16 04:01:11.463000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:096d554afda54a275b71c004a4298026813e307eabe68265ef78bbb86735fef3:f380c40273686e6c633556114da317bed3f0a29f35cc87c7046535d2796ceca2&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:db62ab0a17bf5d741556de247155cb6df9ea5689f3f6bb5e030e337d4b65710c:6c4717aab3b8c57d6165b750829306010b9ffcb8e643b638a9a47383d5fdd7a2&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cee3d7120d83fbd20110412a6969d152174ab17ecca93f03965ba1d0f7f6db16:87f97ead7904fa88f2c5244bad180d4f66cc4e82e5a4ec21b7600db19b2e9112&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6197685f45202b979a9f8c00932437b0ed890b1cf236d46852d943450fd6a6b8:29628e6897040ba377ab46669c86cc85b94f6b456b8c4502a3691526558ac42b&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:096d554afda54a275b71c004a4298026813e307eabe68265ef78bbb86735fef3:f380c40273686e6c633556114da317bed3f0a29f35cc87c7046535d2796ceca2&#x27;, &#x27;aib_bronze.equity_ohlcv:6197685f45202b979a9f8c00932437b0ed890b1cf236d46852d943450fd6a6b8:29628e6897040ba377ab46669c86cc85b94f6b456b8c4502a3691526558ac42b&#x27;, &#x27;aib_bronze.equity_ohlcv:cee3d7120d83fbd20110412a6969d152174ab17ecca93f03965ba1d0f7f6db16:87f97ead7904fa88f2c5244bad180d4f66cc4e82e5a4ec21b7600db19b2e9112&#x27;, &#x27;aib_bronze.equity_ohlcv:db62ab0a17bf5d741556de247155cb6df9ea5689f3f6bb5e030e337d4b65710c:6c4717aab3b8c57d6165b750829306010b9ffcb8e643b638a9a47383d5fdd7a2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8902109248242295}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-16 05:41:35+00:00</li>\n<li>interpretation: Down 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.45%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.450756983766488, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.450756983766488, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;1b0ef2a9d9466ea74c5063887e05ef03bf360a642e03fc1ec0fd3ae1a8738964&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;bd3410bae55e8f0ec45e4060971cfcae529f40ce24088b61200fb7415c71136e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ee40716f064769953eb1e351b065603cb662acf5167189dce874341d0762da0d&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;691df6b661bb25564ece6f850ce590b193e28697d41730dff13d18e10471d83a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;90a77dea82280eb78693a9dd72565facbda81626e7486fd2b32f8c111d0ce1b9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f58a434ffe2e68bcdcdb54c2f62746afb927c814af0254d7962e7b2f5d6a8954&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;dc8d0ca1b6ef52af2fbe6280610b1d4ff28febbe08f2014d208af56a8a4a76dd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cb4426dee584958063f85b34f21b8d51c3299ffded0a1a0b85a9d252959c8471&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c1761dc10048f91d3114cbfef20be28f7032751a83b34ead14752540599c7631&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;8048d4d998e495f19c243cc7e1b13ee44e8cbc7c92e3a03debd05befadda3e24&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;3c5ab6af0613b769621e74a07f2be1033eddbbd324e100508874c7b6bde0428c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-16&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e66164b09464813994209450e6910ed3b89ad0ed78d11b827e5bb6f371977051&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, 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&#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:0fe0d24912e8e62950e5b98d99290ea4fc2d7c81569195af77bc2cf970550e99:76c8718f77b356af2e1d595951681ee8990cd30fb0198e132bc63de643f2ac85&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:340fbb3843892bacf489ae8c0f8147232ac700487ba7ff98155154e870100a2a:07a5f62648f0fcb65e7040fb50b08bee5f9af928aca1811bc3a8a56e51f753c4&#x27;, &#x27;aib_bronze.equity_ohlcv:496873ba701faef7422ed2732ef9320f54493db04fdf5ec8b28527ad98be5ac5:5da1573c6d9a3e7d505d9a522cba18a9adbabb1033f0993fe120824dbfba6869&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:658ba4fd099bcaabbd66bbb7e247451256f0caa377bd2af188801ef43564832f:ff56526db0f8d5d184811da2bfec4d4736ee1de9f088ea3361fcfbcddb87fb5a&#x27;, &#x27;aib_bronze.equity_ohlcv:84790afac7e22c1ab22556bfebfbed61743d069e3df6f86bc9a61f6feee2c0e0:4918ceb9fd8c6471c8929a48bc227de6f1b328c308e8bb4e4059ed8d406f42b8&#x27;, &#x27;aib_bronze.equity_ohlcv:84814dbf46f9c84bb79193031cfaef220a3a5ef7aaef90e0412632344f944ad5:751af3733e749f3134afa1b12aac2aac4bb7a007644ba3792e511636525d411f&#x27;, &#x27;aib_bronze.equity_ohlcv:869bfb6097e552efc1087b6323aac38dd028de1a4c442ffca2c60b16ceef2779:00f717db99dee560b5d91e8e3727bdc695ca6395820e5da2007c479047d267ed&#x27;, &#x27;aib_bronze.equity_ohlcv:9520b946bcc4cb61e40492220878d59de23eb0bdd0df33c5de80b7caf5761f88:e0ef2ab298ea70e5e658ecabc7f7b5a01e262ae4501abc1e1bdd19d44776c7e1&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.36969690204252}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-15</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-15</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-15 / 2026-10-15 21:47:12+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,076B (conditional on an IPO), -10.71% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $10,122.; Probability-weighted bucket midpoint: $1,076B.; Seven-day implied-cap change: -10.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.71428571428571, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0305, &#x27;full_set_prob_sum&#x27;: 0.9954999999999999, &#x27;implied_cap_change_7d_pct&#x27;: -10.71428571428571, &#x27;implied_cap_usd_b&#x27;: 1075.8196721311476, &#x27;ipo_by_2026_prob&#x27;: 0.0425, &#x27;no_ipo_by_2026_prob&#x27;: 0.965, &#x27;volume_24h_total&#x27;: 10122.381379}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-15</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-15</td><td class=\"num\">110,288</td><td class=\"num\">24</td><td>—</td><td class=\"num\">19.59</td></tr>\n<tr><td>CISO</td><td>2026-10-15</td><td class=\"num\">625,250</td><td class=\"num\">24</td><td>—</td><td class=\"num\">8.45</td></tr>\n<tr><td>ERCO</td><td>2026-10-15</td><td class=\"num\">1,520,033</td><td class=\"num\">24</td><td>—</td><td class=\"num\">15.95</td></tr>\n<tr><td>PJM</td><td>2026-10-15</td><td class=\"num\">2,189,943</td><td class=\"num\">24</td><td>—</td><td class=\"num\">11.52</td></tr>\n<tr><td>SOCO</td><td>2026-10-15</td><td class=\"num\">668,611</td><td class=\"num\">24</td><td>—</td><td class=\"num\">9.936</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">43.91</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">34.7</td><td class=\"num\">0</td><td class=\"num\">-9.218</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">34.86</td><td class=\"num\">0</td><td class=\"num\">-9.05</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">103.29</td><td class=\"num\">0</td><td class=\"num\">21.61</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">81.67</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.89</li>\n<li>as of: 2026-10-15</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.03132</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>411 benchmarked model identities; 243 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 12,163,237,970,986</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 4,653,202,086,647</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,425,304,345,802</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 4,701,956,814,549</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 296,861,137,133</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 4,103,953,567,790</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,706,355,602,475</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 349 eligible configurations.</p>\n<p>Usage window: 2026-09-16 → 2026-10-15. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-16 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;cdd9e5b602d255984979bf0f81df47f2f7102c75a6c5e2e9210a90a79d68efbb&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;218bfb29894249fa8bd5d8d8d222ffc5e1333770291a0308e72af1e00adf5e9a&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;e545dee077381628fe6b86debd5bec4c3d68b8c5adeecf302e93a947a99e154d&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-16 05:40:19&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-16 05:40:26&quot;, &quot;record_count&quot;: 1852, &quot;records_hash&quot;: &quot;7feb5220e0fb443851da35f48755528a1fb604dc8412df447c7ab24bc6827a56&quot;, &quot;snapshot_id&quot;: &quot;f709f052a6bf6dcdf35a96d3a0c5e9797c53a8572a2b65dee72a376e9ea21933&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;c8f9121bbeee874f1154e1baa0a8125d6a0ae6b294129592d06d419d09bd1966&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;2b03d7ec2fe82b4b9125741b82bf653b310a0ac45db102585122ea37c6a801ab&quot;, &quot;9be76dc51a125110b91380e640f36e556f8db189099a5622809dd1ed9b07a2b4&quot;, &quot;7c5092e5ed717c09c79d6ccd42e049e903fb986bea1088b009df2e2fdc08775b&quot;, &quot;75e4b651458ca9c5a03193537d6a6187b2452ba247b86804f6fcceea22546cc2&quot;, &quot;aceef82c8d2153b581077b93e23e203c0d83bcc6d7fb0c7beb407a905e9c9633&quot;, &quot;647ce0a6ae874faa4b5f0cfdc54d4a0580aeeeb5aa94af80083ae75ab3657b7e&quot;, &quot;0417d9cf914a0cfcb1612913468c169f6b488a978a6cf9a9dfda9bd3f4fb624b&quot;, &quot;7dc4b86b13f667df510894b1b44ca23ca2fbf5d9bbd229915ba8afdece3083ee&quot;, &quot;a54e74fdcba64811c7f6220469fb5f5134033cf5021e7e63ccb1798699808faa&quot;, &quot;671fdaa0bf361484e4587892ff854d0bcdf80017007250dd4810a27d88b3d150&quot;, &quot;0919f33dba80b48e1428f0227b511917abc92b07f499d75e09602b85222b59a0&quot;, &quot;2b67602eed8b6c14ff4af4b45e5b74f4691cbe45881b7dd99d537e96e2e3c4f8&quot;, &quot;8a9af5a6d69249d4ba4acb44524152b3412d447231cd4db9c5f20164d93ea409&quot;, &quot;06d22429a9554d63f353a49147e372319d297cd55b87f7de10844a42e6d33c16&quot;, &quot;b38e792436cb600933cadfbb5bea838793ccd151eeb8bff4ca17d67013e5e313&quot;, &quot;4f9e0ceae173ce0e0ce27bf34e74ef1e4a1663b41c853644307669c7344c4d2f&quot;, &quot;131096439bc132b9f2b5a4538a0e1197a2cf0212b6479627dd257c9ab1ff2fc9&quot;, &quot;d5bd5ff0b74a475c2b4a02596078219ed32d6c3e5c0aac4d7d41cb0048dcca3c&quot;, &quot;e8f7772728a581c4579ef095e3ff8e7a38fd585efa5f8f6f6ff30d878e0959c7&quot;, &quot;cbefb7a4071cefd3aa76132a23ce132ed253d597173b26f2b78ac45daa12b9dd&quot;, &quot;3d67598e980a31c612bade265eb02ef8b81671384aab7c3dd8a271e281de5a9b&quot;, &quot;43f74769a58d7dba08d2ddfccd82a7684a7a2f5b54685ba526b71028590ee64f&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-16 05:40:28&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-16 05:40:30&quot;, &quot;record_count&quot;: 765, &quot;records_hash&quot;: &quot;1a3a70b906c9949f5cc04733f8bdc86f3ec09ff97a1d66549d0b9a5efde79d60&quot;, &quot;snapshot_id&quot;: &quot;dee5a7e9f6bf9f3426308c67b4fff5439e283b43fad57ea1888ba6dff14e9cea&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;251ebe29323b1b77ba00e789ef7b9dfa6971dce586cb1c63ffb43aa8a7e22285&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;0ff2740d03b2269d04ce154ac512ed4c38d6db7b9cbe93ade1a8f4cdb2cee84c&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-16 05:40:19&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-16 05:40:26&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;98fbdf04eb0394a863e3c56c959678a6877dd1f5e74584274e896deff8348afd&quot;, &quot;snapshot_id&quot;: &quot;a57a1a56c89773f34be21a240b5b784ce469ce47da488e6e3bbfbe6aa5c91b10&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;223c53f9e77a85f8c21ec82a0a59eaea6e3bc9d16d8f952c4918b67e85f003fc&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;ef6c0da30b07867dbbb92024b0e3a0bc238cad12a460f3b613e6b98915332705&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-16 03:59:16&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-16 03:59:23&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;42f1d2fb0610b9daeb24ecd7f2403c2a5fae81259e521d1a3d476892c13784e2&quot;, &quot;snapshot_id&quot;: &quot;d188a4def9248e7ab9f9a3ad5ba14aab94b99ae4e6fbd3cc99f361fc0e7a05fd&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-16 23:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">1</td><td>2026-10-16 05:42:14</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-16 05:30:01</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-16 05:40:16</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-16 05:40:16</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">1</td><td>2026-10-16 05:40:15</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-16 05:40:26</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-10-16 23:46:22</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>eia930_subba</td><td>error</td><td class=\"num\">0</td><td>2026-10-16 23:44:03</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-16 05:42:14</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">139643</td><td>2026-10-16 05:40:15</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">137</td><td>2026-10-16 23:43:52</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-16 23:42:50</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1792194176</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">465</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">649</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-16 05:40:15</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-16 05:40:15</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1852</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">765</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-16 05:40:34</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-16 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-16 05:40:16</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-16 05:40:15</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: eia930, eia930_subba, engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-17T05:10:09Z",
      "id": "urn:prexel:issue:0fde98a8-9809-5faf-9955-deffb81a914e",
      "summary": "Prexel daily — period ending 2026-10-16. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 46 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-16-daily-791cba0388c6.html"
    },
    {
      "_prexel": {
        "content_hash": "e75098628b9070185ff9c722bdb45b26363b3c92cb244681828641903f327a28",
        "context_hash": "93e58fa9c25296ef03932a75125b9ff8ba496d12ced48c002d3f8ec2c9dd56f8",
        "kind": "daily",
        "period_end": "2026-10-15"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 45 (daily)</h1>\n<p>Period: 2026-10-15 → 2026-10-15</p>\n<p>Context hash: <code>93e58fa9c25296ef03932a75125b9ff8ba496d12ced48c002d3f8ec2c9dd56f8</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Utilities vs S&amp;P 500: ◆ Mixed — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>GPU marketplace depth: ▲ Bullish — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>CAISO implied heat rate: ⊘ No read — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-15T04:02:25.478279+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 31 usable / 20 no read — 13 bullish, 9 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-14 21:16:34+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.8554606135201657; b200_h100_ratio_change_14d_pct=0.05615117859121448; b200_offered_usd_hr=8.377604166666664; band_measured_pct=5.615117859121448; band_pct=5.0; h100_spot_usd_hr=2.933888888888889</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.8554606135201657, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.05615117859121448, &#x27;b200_offered_usd_hr&#x27;: 8.377604166666664, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.615117859121448, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 5.615117859121448, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.933888888888889}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-14 21:16:34+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-14 21:16:34+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.3821138211382114; h100_depth_smoothed_3d=19.0; h100_dispersion_smoothed_3d=1.761813265015656; h100_price_change_14d_pct=0.09061332779327745</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.3821138211382114, &#x27;h100_depth_smoothed_3d&#x27;: 19.0, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.761813265015656, &#x27;h100_price_change_14d_pct&#x27;: 0.09061332779327745}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-14 21:16:34+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=4.698650755053304; band_pct=8.0; h100_spot_usd_hr=2.933888888888889; spot_trend_30d_pct=0.04698650755053304</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.698650755053304, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 4.698650755053304, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.933888888888889, &#x27;spot_trend_30d_pct&#x27;: 0.04698650755053304}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 03:59:29+00:00</li>\n<li>interpretation: Up 10.0% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 10.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.011449024039054, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 10.011449024039054, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3088543586, &#x27;total_tokens&#x27;: 234549757980623}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 03:59:30+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.55pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.1%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.5466238601853632, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.06925429419202, &#x27;top10_share_change_14d_pp&#x27;: 0.5466238601853632}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 03:59:30+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 11 cuts, 12 raises.; Fixed-basket price at prior-day token weights: $0.669/Mtok.; Seven-day like-for-like change: -11.43%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -11.425568682343357, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 344, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6689707474732507, &#x27;like_for_like_change_7d_pct&#x27;: -11.425568682343357, &#x27;price_cut_model_count&#x27;: 11, &#x27;price_raise_model_count&#x27;: 12}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 03:59:30+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -8.02%.; Token-weighted effective price: $0.682/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.022526434390198, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -8.022526434390198, &#x27;effective_price_usd_mtok&#x27;: 0.682450998292711, &#x27;matched_model_count&#x27;: 344, &#x27;total_standard_tokens&#x27;: 165866884579123, &#x27;unmatched_token_share&#x27;: 2.6684164362987532}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-14 03:58:40+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +153.8%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 153.78151260504205, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 153.78151260504205, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 03:59:30+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +6.87pp.; Open-weights share of routed standard tokens: 61.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 6.865401792892968, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 18.423594516794495, &#x27;chinese_lab_token_share&#x27;: 71.3469877931186, &#x27;matched_model_count&#x27;: 344, &#x27;openweights_share_change_14d_pp&#x27;: 6.865401792892968, &#x27;openweights_token_share&#x27;: 61.7198517117861}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-13 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: revised in bronze; source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:49+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $47.09/MWh vs prior 14-day $51.61/MWh (-8.7%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.746419237730894, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 47.09447886904762, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 51.608362626050415, &#x27;caiso_da_trend_pct&#x27;: -8.746419237730894}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ⊘ No read</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough heat-rate history yet</li>\n<li>data quality: Henry Hub gas proxy, not local basis; secondary AI region — proxy read</li>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:49+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +8.43% vs control mean +11.67% (gap -3.24pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -3.243259741608787, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 14.14782875074207, &#x27;dc_load_premium_pp&#x27;: -3.243259741608787, &#x27;erco_load_yoy_7d_pct&#x27;: 9.191378698926181, &#x27;pjm_load_yoy_7d_pct&#x27;: 8.426343983225339}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 03:59:49+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +13.85% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 13.847934386197457, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 13.847934386197457, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Down 15.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -15.80%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.46%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.4648114922606434, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.4648114922606434, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;ef9e72398a555c483c92ba2741b3c828e47c416870f47bc0bc7fe202f162a05a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;71947186989ab1879fdc148ccae463c799cb17125daf31da13fc381293f18ca1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;847e7d2b41f5f14e5555df0e634fcdaa11cb0fa99a40a31e29771a3d64fb4649&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;9fa1c690422f2968221b8e00826261b8f0cae5d1c08821d9385679cdfc5b27ba&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d4b955d79907264c8d240599219e968594e3288426e18892fb9317dd6feb2863&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4385dabf7c8fa7e480c3ea036a3ffda997f675cd53ea63ad3e971c4509768260&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;18d6b886afeb169e239ec1d6e231e8d0fa7000a2eaa3e9abe58b454cbc934c2e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8d4e6615996506ca8c672e4cee44b1d070a6f07bed94861982d4bc4cf8140fd6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e3744e68ac81f6c99f7630efa813101069f9b99366e6d8a25062c1d73da066c2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;95fc5271eff05bd9f0894674fce157b2186d9bc40c12169751789ada6ab4d759&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b6076cdcd3d35fc51dec7189fe2edd7101c83b766a5a59856cc6aaac3a9a7e2c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5a92b821c19eed2c3100c84d1a1ecd8a65181b2940d2a32ae8ca663fcc65be2c&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-15 01:58:04.570000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e674cc607f6378aabbb1c821ebdafe03a4924ea6d6ed5bee26ea9fd017faaad2:a96a5eb78b7481542000dd0e05e9b23fb296c6e2af2a1dc1a636e29cf56c0144&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ed11817d61c37ba31d143b5ac9377ddc5cdee620991cffb688341cb6cf96b7b:80d5a6a5fda132263470f01aec5b6addf67c4b3648c7bddbc8a7b1bc4e254550&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f194e7fecd54a37982aa3f8a70333932630f2c9c6e413000bc6af1ca81fd0072&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32723f5f49e885dac7fc24551dc14975b11ae12efa4a2911c749ad140620f9b2:388d22c787a84d8674c87df46af2f02e9f0450618e54ce25bfcfc65fbf75e527&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:255780d799f4e58bcce307f75f23692d32a894b24a91c714ada7224410a7d274:039549ba1fc0f83a8c048112d299ce676a4ad94473fabe3daf16fe6a4978c31c&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d2b98af72c69e3b2d2f0a5f28cacda800a5a7709fa4dfc1a7b984b6177c7802e:0e2ace5f3dcb3bd25f24cb9f4aa89cd32f84269d3826b45d505db40b0e8e94ce&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:d2b98af72c69e3b2d2f0a5f28cacda800a5a7709fa4dfc1a7b984b6177c7802e:0e2ace5f3dcb3bd25f24cb9f4aa89cd32f84269d3826b45d505db40b0e8e94ce&#x27;, &#x27;aib_bronze.equity_ohlcv:e674cc607f6378aabbb1c821ebdafe03a4924ea6d6ed5bee26ea9fd017faaad2:a96a5eb78b7481542000dd0e05e9b23fb296c6e2af2a1dc1a636e29cf56c0144&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.83879465278991}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.27330412066992604, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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04:01:11+00:00</li>\n<li>interpretation: Down 18.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -18.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -18.553062315440684, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -18.553062315440684, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;094d5d4887cec6e7544432876ba691a6463bbec3416afbb8a21400822f6067ab&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d9d7139d144db08e1811eaad75192483d4d80fc52cca117392ab906a735f1547&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d7757c775e2d8d3fa09ec244870de585f83c18f61312c27ceee273ca82589989&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;ade530f98dbc77007b7d4c6ba73e727db2b07d735b26ed6f0a310b1d5d465ef5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;c07cad232fff248f179f83e2958688a028ab5e14ba6e09f6467f08b4fae05b59&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-15&#x27;, &#x27;row_count&#x27;: 389, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;906533e576465341ed1185ef47725ebca2349e4eb559d20e3d560374fc1b6f6f&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;18d6b886afeb169e239ec1d6e231e8d0fa7000a2eaa3e9abe58b454cbc934c2e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8d4e6615996506ca8c672e4cee44b1d070a6f07bed94861982d4bc4cf8140fd6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e3744e68ac81f6c99f7630efa813101069f9b99366e6d8a25062c1d73da066c2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;bed232bfd2aebd8c7c10547e0288642ca87051e4c4ee036559d96db4fbacf6a5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;42ae9536f91a2c5c428db116a8fb24e15d513c20b0ba76c8c6df943b0c2a4bd0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;358407462a0336732f771138dc00071b3fa70b2616a90b13c575ee8536e70049&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;c156c8cc625878f955520196bd9e1b37fdb751fb71206921b458ad9b332691be&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;f044ea650af72b6dd671174f08b0aa7a115b67abb93522c2948372d5daedd149&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-15&#x27;, &#x27;row_count&#x27;: 497, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;87d3c90e5d9f396a6386116cdf1a69edb59d0be6c8cba509fbd260ac419c364d&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-15 01:58:04.570000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ef362eb15ca19453f9d15b7ad97902dff452b5005ea013cd0b24399ea4c8637f:8f4bffbf3ae648a13118dfa268f00fe28341651bee0499e7be6ef3d306cae871&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:57c6bb6fe34ca10ffff1a77cdd798d2855947d91085398b47b0ebbef7e4f4607:70c38eef60a4c342240b0d43637e16f5f222ac9d91c01c604671ed89c4ea903b&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f194e7fecd54a37982aa3f8a70333932630f2c9c6e413000bc6af1ca81fd0072&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4c4514183e9de0016165edcd47eab3e191824fc113e3e5b0d14209e46a796e51:27b8265a11ab12941dd42501d7e4f7d26b1e2a890c0ac1fe7a8b8e58a488b6de&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:35c04ddd2daec6c1e7154602247c5255dafe8f809728001667192016b57cdcc8:2027feac9484326635d24c75e08024d748e8e2f1c08242a20bef92604cec7e16&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Up 7.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 7.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.392446990680868, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.62%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.6232247443401144, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.6232247443401144, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:a1b46383f4d9f077e5b227b5067c206272c650c5e692f42d40b4f9763f5e1cb9:4c0c9cc9859d1b1796cc00ef3aacbcb9da02c36002564325f9c555fed6e8d2cf&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 129.82299636731116}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Down 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.43%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:06ff275b683a578c5a6e6bd3657ac79720af797063d04bfcd86ef5b9a6e5a10c:8674976b668326018e4a7b623a8c13fba5286b4662232bade27cd0c7d59c06c6&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, 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<code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Down 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.6145856450938014, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.6145856450938014, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;803fb19f891bc434d4e8b545cbdbc52cf11563c4eaa06e18702fab684fe5496f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8d7600b854864141cda5aa685404bd4c4d46866110a410ca7737607d52c31b64&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-15 01:58:04.570000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5067059075546f2e5db4169fc0f9f981552942cfd911bc11b1d225bb1ff39e33:5268eaa4c3382e02462647cde258a9c4ad8faa403811c0ce677d32cc04abb24a&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:80749404f46845dd797eb06d396a637dd69baf68b2f9b77c0848cc459ee337e3:dc9b498ca693d939d059d8f2455919b9c6d40576c135522a0a4c985751e1ebcd&#x27;, 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&#x27;aib_bronze.equity_ohlcv:80749404f46845dd797eb06d396a637dd69baf68b2f9b77c0848cc459ee337e3:dc9b498ca693d939d059d8f2455919b9c6d40576c135522a0a4c985751e1ebcd&#x27;, &#x27;aib_bronze.equity_ohlcv:c259e2300ea0bc84244d4a379c54ae6d8ef96336882db075b2f2f77757674fbd:5391c66f324a7d01213785d5c831e0650205c946838338250ea5401b8a8e528f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.75876809805628}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Down 2.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.256600595823699, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.256600595823699, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;18d6b886afeb169e239ec1d6e231e8d0fa7000a2eaa3e9abe58b454cbc934c2e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8d4e6615996506ca8c672e4cee44b1d070a6f07bed94861982d4bc4cf8140fd6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e3744e68ac81f6c99f7630efa813101069f9b99366e6d8a25062c1d73da066c2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;61145d74d7b7a0945053e817f63d28e46cbc49563b43a913c0c7ef076685df4e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;140d513bc82769d77ea6ae008bc1b17c4ddbca8090c9e61ab4bcf52c6b8272fe&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;68e65d89b5d5dae12c2b0cbee6a35d4343a4850fcd4aa7cd63118a46e205449a&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-15 01:58:04.570000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f194e7fecd54a37982aa3f8a70333932630f2c9c6e413000bc6af1ca81fd0072&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e5865124686d171b8a6f81bd6a0fb2901d4a98217368291e3e3bfd7d43634121:d2928b15e515d8e54caf7ae1701940176269c6a352e186a8c409beef036e7794&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:82548cac18b53ff2879c571bf266537a6b24911cb8d60d05fc53969a7185093f:ce7b62beb8cc4aab5315548bf79ca9131129c2f4433564db97b2122a9cac0490&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c88f73f3c523e155d75bd94422ff6f1c002648dedc154c4961bb73fefc664363:ee2d8344971bc1540b4ca2c44a4bc255474ce7fc408e4ffa19b8a55282874052&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f194e7fecd54a37982aa3f8a70333932630f2c9c6e413000bc6af1ca81fd0072&#x27;, &#x27;aib_bronze.equity_ohlcv:82548cac18b53ff2879c571bf266537a6b24911cb8d60d05fc53969a7185093f:ce7b62beb8cc4aab5315548bf79ca9131129c2f4433564db97b2122a9cac0490&#x27;, &#x27;aib_bronze.equity_ohlcv:c88f73f3c523e155d75bd94422ff6f1c002648dedc154c4961bb73fefc664363:ee2d8344971bc1540b4ca2c44a4bc255474ce7fc408e4ffa19b8a55282874052&#x27;, &#x27;aib_bronze.equity_ohlcv:e5865124686d171b8a6f81bd6a0fb2901d4a98217368291e3e3bfd7d43634121:d2928b15e515d8e54caf7ae1701940176269c6a352e186a8c409beef036e7794&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 97.42969782758304}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Up 1.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.51%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.5095648492042368, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 1.5095648492042368, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;18d6b886afeb169e239ec1d6e231e8d0fa7000a2eaa3e9abe58b454cbc934c2e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8d4e6615996506ca8c672e4cee44b1d070a6f07bed94861982d4bc4cf8140fd6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e3744e68ac81f6c99f7630efa813101069f9b99366e6d8a25062c1d73da066c2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;59bac52a40bb3682c6747e88b591bab572cb4f56c48b7c37720a230c0e75b387&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;77ab21dc0727ac7695903aecc94f509101690cab2fa6f4b3545d48a4489d2ef5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;73398bfa173dd01f4b423f9f86ebab627871f434eec7463422bca90e5a5cefcf&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-15 01:58:04.570000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f194e7fecd54a37982aa3f8a70333932630f2c9c6e413000bc6af1ca81fd0072&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10b760b819a42d972359fe162e0dd7a3cd1f7c54b2751c9033e28ab08619a121:3e3c840fdf5dbd1287f2e9f4e5fc45fad08533db195793e6ed2eb66e6b698d56&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:82548cac18b53ff2879c571bf266537a6b24911cb8d60d05fc53969a7185093f:ce7b62beb8cc4aab5315548bf79ca9131129c2f4433564db97b2122a9cac0490&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:01ab855256093f297a16d41726c831005f6611d2eb2651654004400b3ac6871d:4b031046abcdfb6ef1322631fb44aaca74b69378ae4fcd04fdea861b52c34b8f&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:01ab855256093f297a16d41726c831005f6611d2eb2651654004400b3ac6871d:4b031046abcdfb6ef1322631fb44aaca74b69378ae4fcd04fdea861b52c34b8f&#x27;, &#x27;aib_bronze.equity_ohlcv:10b760b819a42d972359fe162e0dd7a3cd1f7c54b2751c9033e28ab08619a121:3e3c840fdf5dbd1287f2e9f4e5fc45fad08533db195793e6ed2eb66e6b698d56&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f194e7fecd54a37982aa3f8a70333932630f2c9c6e413000bc6af1ca81fd0072&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:82548cac18b53ff2879c571bf266537a6b24911cb8d60d05fc53969a7185093f:ce7b62beb8cc4aab5315548bf79ca9131129c2f4433564db97b2122a9cac0490&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.17191404141666}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Down 0.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.7937938930522859, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.7937938930522859, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;18d6b886afeb169e239ec1d6e231e8d0fa7000a2eaa3e9abe58b454cbc934c2e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8d4e6615996506ca8c672e4cee44b1d070a6f07bed94861982d4bc4cf8140fd6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-15 01:58:04.570000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f194e7fecd54a37982aa3f8a70333932630f2c9c6e413000bc6af1ca81fd0072&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:00fef63686df8c33d9c27ab32030fd384928381ca6a6e9f9f1a85fef8a1b0c45:2e872cd2e72555fbed4dc091617f5247fa4f20501bfea95faa32a821a36678de&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f194e7fecd54a37982aa3f8a70333932630f2c9c6e413000bc6af1ca81fd0072&#x27;, &#x27;aib_bronze.equity_ohlcv:82548cac18b53ff2879c571bf266537a6b24911cb8d60d05fc53969a7185093f:ce7b62beb8cc4aab5315548bf79ca9131129c2f4433564db97b2122a9cac0490&#x27;, &#x27;aib_bronze.equity_ohlcv:9632224fd6a47ce2969a941c15f94c41725e1cc6f166f5f81b6687c4a578b2c3:c56b8d1c2ab7bd0158e59f24532b274bd55bc19622867d4c927958aa089889bd&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 90.31953567894858}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Front VIX at 0.90× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.898.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 183, &#x27;epoch_values_hash&#x27;: &#x27;279e97106fdf419c44cd0724c1dfa6575b3fd9d17605bae103c9c31ad789a09b&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;319e663a351b026cd8ecd4fe9aa3a214adbbecb55c8981e70b6576606e7c9dca&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 560, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;87db1d5a3f9e35c4930bd9832a37aa38dc8ab1b59592fbade5cfd011265452e8&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;7df8da59c3591e9c388e4b138c959c247b33e98ff1a84d4751f227e0adbadee6&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d5b5707bd178f6fa7d9c58e1e80f6e84567c1bf862d77d01a84e01be292a296a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;291f3c90f4d00a0f95d5f58ea774db366c2af45e25c73b2dd742ab1de633a7c8&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-15 01:58:04.570000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:23fe2ed5396e7988c1e60b32cacf80ade466f50e4623b8a650c2af9f9db5c46d:03aceb93c002860b76a60cd143d9dcc8de1ba891fe42b241eb47a5b4c1d26e97&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:98c19421cce8f2182c5c683f2f0893418ec9d2dc4802ffe62d175db922433816:3e855c0e065a051f4f8117f978cefdfdf2e39a0e9e9789264e129a542c230cfe&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4d1ebef42c71293dfe5639f7bb9f0cdd9b019b83df1a5bd8be5b6c5c5be5d88e:519e79552ab789844df1797303a48c19e2694400565517a271f8c2581c4500b5&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5edb1d6c5cbc7e0984bcb5fab280dfe60e0ebd0485f2480946038efbdeb5c934:1465928080b702a8053aa15e79d27361003ea0f41a0fe3e4f1b76ae300a84a73&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:23fe2ed5396e7988c1e60b32cacf80ade466f50e4623b8a650c2af9f9db5c46d:03aceb93c002860b76a60cd143d9dcc8de1ba891fe42b241eb47a5b4c1d26e97&#x27;, &#x27;aib_bronze.equity_ohlcv:4d1ebef42c71293dfe5639f7bb9f0cdd9b019b83df1a5bd8be5b6c5c5be5d88e:519e79552ab789844df1797303a48c19e2694400565517a271f8c2581c4500b5&#x27;, &#x27;aib_bronze.equity_ohlcv:5edb1d6c5cbc7e0984bcb5fab280dfe60e0ebd0485f2480946038efbdeb5c934:1465928080b702a8053aa15e79d27361003ea0f41a0fe3e4f1b76ae300a84a73&#x27;, &#x27;aib_bronze.equity_ohlcv:98c19421cce8f2182c5c683f2f0893418ec9d2dc4802ffe62d175db922433816:3e855c0e065a051f4f8117f978cefdfdf2e39a0e9e9789264e129a542c230cfe&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8978179882916446}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-15 04:01:11+00:00</li>\n<li>interpretation: Down 2.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.3421300420114255, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -2.3421300420114255, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;fa72d0c066d827cc35eb8419b09eaa117c25636ca899fd2ae9dc7f09d52e7cb1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;bfe785b2b20210413f2ca78aea02ffc8a4d57c9249484692a2dde02ef13847c5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d13621c1de0f70bb7940e66ab96187a1f997ade5a8c05a05efd34ac3b02af749&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;f8bfe64bc6579db4cd4440954a935024a454793ee89050d822227013b2cca111&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;287ad501fef337aaf5cd61cc9516b9b95241b1e2af01e431437edf7c194704a3&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;ab53cc663706e051f1b61227fce23485f408e64336c9d9f1ed93d31b7bdd4a1c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed686f1441b1903a61eaa2520fc9715e498b202a78073121fdc96ce90e52c752&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-15&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 541, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f1202a9f4ee25ab1d9550a399bde8833e8c760b87b9ca94d3c72b6600951372e&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-15 01:58:04.570000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4044130a2ff8ee282c1401b2aab4432a94d944251575823750a87a86407a07d2:e18d3e5453cc07ac0da245dd06ebbd98bbf2f671541417eb82de8fe672a5d35c&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:7626f8d9967f3195466abbc098a6701266ded5cbfc35ab22e1cb1dd902f942b5:f534a8b8608237d4e929c46c617119152fc9ebd71ee2347f3c62db100dba330f&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f75fa7c4e11991ecad740a4710f79e3ecf127fd179c3eb2b3bd788d8c4e5dbda:2899fdf8b37f1a5564f2ed59a9c5dfb2dd6c0a4e6e24e1c17653e084646988bf&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c259e2300ea0bc84244d4a379c54ae6d8ef96336882db075b2f2f77757674fbd:5391c66f324a7d01213785d5c831e0650205c946838338250ea5401b8a8e528f&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d5877cd95e5129d6c25fdd9a08cd0fdd6b43f40187916797abe83c2e260ccecf:bf4548068856f131c6059d040e9e3a1a9d78e2d3c0dba4a2c26e15e42896b2c2&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4044130a2ff8ee282c1401b2aab4432a94d944251575823750a87a86407a07d2:e18d3e5453cc07ac0da245dd06ebbd98bbf2f671541417eb82de8fe672a5d35c&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:73c5411790795e1cf71329874d45814e1c5dcc0d9156ede0745efa34404b409c:fa1a2e62512378fd1fdfa4083dd6932f3a5ab7cc9d3bf9f9d03fbf140b6ed671&#x27;, &#x27;aib_bronze.equity_ohlcv:7626f8d9967f3195466abbc098a6701266ded5cbfc35ab22e1cb1dd902f942b5:f534a8b8608237d4e929c46c617119152fc9ebd71ee2347f3c62db100dba330f&#x27;, &#x27;aib_bronze.equity_ohlcv:80749404f46845dd797eb06d396a637dd69baf68b2f9b77c0848cc459ee337e3:dc9b498ca693d939d059d8f2455919b9c6d40576c135522a0a4c985751e1ebcd&#x27;, &#x27;aib_bronze.equity_ohlcv:8ece3f1c70e0063967208cdb248f8aa373f92e4300868fb2d93a5fe7a9bbd47d:9055b14b9ed47ceaf9da285c65d6d1c0bab525b3fbffe8aa74abdd34156af053&#x27;, &#x27;aib_bronze.equity_ohlcv:c259e2300ea0bc84244d4a379c54ae6d8ef96336882db075b2f2f77757674fbd:5391c66f324a7d01213785d5c831e0650205c946838338250ea5401b8a8e528f&#x27;, &#x27;aib_bronze.equity_ohlcv:d5877cd95e5129d6c25fdd9a08cd0fdd6b43f40187916797abe83c2e260ccecf:bf4548068856f131c6059d040e9e3a1a9d78e2d3c0dba4a2c26e15e42896b2c2&#x27;, &#x27;aib_bronze.equity_ohlcv:f75fa7c4e11991ecad740a4710f79e3ecf127fd179c3eb2b3bd788d8c4e5dbda:2899fdf8b37f1a5564f2ed59a9c5dfb2dd6c0a4e6e24e1c17653e084646988bf&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.12737935489638}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-14 / 2026-10-14 22:07:29+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,127B (conditional on an IPO), +2.39% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $300.; Probability-weighted bucket midpoint: $1,127B.; Seven-day implied-cap change: +2.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.3926553672316553, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.03, &#x27;full_set_prob_sum&#x27;: 0.9825, &#x27;implied_cap_change_7d_pct&#x27;: 2.3926553672316553, &#x27;implied_cap_usd_b&#x27;: 1127.0833333333335, &#x27;ipo_by_2026_prob&#x27;: 0.0425, &#x27;no_ipo_by_2026_prob&#x27;: 0.9525, &#x27;volume_24h_total&#x27;: 300.01}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-14</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-14</td><td class=\"num\">105,495</td><td class=\"num\">24</td><td>—</td><td class=\"num\">13.09</td></tr>\n<tr><td>CISO</td><td>2026-10-14</td><td class=\"num\">607,448</td><td class=\"num\">24</td><td>—</td><td class=\"num\">3.609</td></tr>\n<tr><td>ERCO</td><td>2026-10-14</td><td class=\"num\">1,631,021</td><td class=\"num\">24</td><td>—</td><td class=\"num\">21.84</td></tr>\n<tr><td>PJM</td><td>2026-10-14</td><td class=\"num\">2,306,053</td><td class=\"num\">24</td><td>—</td><td class=\"num\">16.18</td></tr>\n<tr><td>SOCO</td><td>2026-10-14</td><td class=\"num\">651,957</td><td class=\"num\">24</td><td>—</td><td class=\"num\">8.1</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.45</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">34.69</td><td class=\"num\">0</td><td class=\"num\">-9.767</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">33.64</td><td class=\"num\">0</td><td class=\"num\">-10.82</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">266.25</td><td class=\"num\">0</td><td class=\"num\">52.33</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">213.92</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.934</li>\n<li>as of: 2026-10-14</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.04699</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>revised_in_bronze</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>409 benchmarked model identities; 243 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 11,143,212,324,988</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 4,336,360,261,825</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,436,936,605,662</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 4,809,565,377,103</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>≥ 151,270,249,869</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 3,807,991,242,901</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,812,828,262,637</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 348 eligible configurations.</p>\n<p>Usage window: 2026-09-15 → 2026-10-14. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-15 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;73521915ba7ce71426eceaa3ea7c98210e499ab4a0c343fc617d7b154b203322&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;8f86ac2cd09a0fc50b8c350667f66ac5218d034029b85dcacdf13a40d18ee845&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;5071eaa95b50b6b95797f0417527b1d3c93481c9ef6732b89ff91b32c2597d90&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-15 03:59:33&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-15 03:59:38&quot;, &quot;record_count&quot;: 1847, &quot;records_hash&quot;: &quot;9bdf74937f5cfe36f0e22dc985acdb8082f4840a03a60f35f69ddbb6da320da2&quot;, &quot;snapshot_id&quot;: &quot;e8e38980650507fe221af7e4ad6535dd46b426bd702f4e63f50888b6045a195b&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;7f8ce66b0abd78547582b9bbba20359445cc850c93a304f2b0f50e18cb608fc4&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;086212009adb97f0e630bb76e85d135a2e05bdbf259ffb6e528791fadb41b91f&quot;, &quot;1473391a0db1618f75eb1a9b07bcbc8045d15f2d454a2d1f71742bf7f17c4a9f&quot;, &quot;ad7f4f7c268b98bdd3626343d342ea7f9e6bbee5ed0607a88cea894ac9aa50dd&quot;, &quot;57ebe56104a6fb1f85a2820a860e9f3a578f30ec122c32ad8549748c07a6f7ab&quot;, &quot;c89d54dbd068b6f84d27d18c317c86ab920ea37013ca87f03705ce3a8168f2c1&quot;, &quot;3d3ac47826a77c55575090102650ea63b54f7ec485e2c8b37249887076ea9dd3&quot;, &quot;005c7c7e67e6bc2811dcbd80a21016b8c355b9e9f8ec9ed75b458cb71c66909f&quot;, &quot;60f46339ca4eee8cb8e3bf84ec32394ff69bead545a8faba89de7c8ff3b70438&quot;, &quot;20588338d5a4e10c7b3d75ba23d83fe7997264f5871e9347000b6dc64a78292b&quot;, &quot;15f65f9340eaad0bf5d9f784c6db614536db0fc6d9ee7ada030cd61f61b6953c&quot;, &quot;0182c26b8b093d52122d2b49d1f9b5f7104c60d861b3f0e1c8e0b13487bb4adc&quot;, &quot;ed9305c326e2bbb7e3de00d21187bba7bc69ebba0c0d0d8b25fefec88687cd06&quot;, &quot;87f6853b4beb4150006d9285b37d60aa4e73b804c87d14c89907df8eb1518351&quot;, &quot;5a1fb61d766871f7d147a0d6006b4811c0cefdbd86e066f911721c5246865e9d&quot;, &quot;db424d7b001fd5c98f064b6ade288ec1783e7208ffcc3f337a3afee240bd02f0&quot;, &quot;828b61abf455eb8a4038df35522ba76dac2f787f2d02336283177084b02e7552&quot;, &quot;3d2d99cf3e5b0242bab69e32600b74fb2f2ee49e75326aa74d163b9849de09cc&quot;, &quot;0e6c34e1ee6abe48f4f0e4d374857f257c66388d63892e7732120ded6c1cb72f&quot;, &quot;cc4e794811a1243a3e347c126c72b2164b19aa6558ae63ecaef33d6c596a435e&quot;, &quot;59a6d94fb50fdaa70c99ddfd278e6ba3097a914cfbb0aa28990d0d9ff22657e3&quot;, &quot;c44dd9d2adb801fc45b9a35b90c6ebf1f32af2dc35a873aff378d3a18a647f8e&quot;, &quot;eaafab1f83473d7c869f3e62bf63c41fa1f53c5ba3ffa3088d8a0c67c8a1d44c&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-15 03:59:40&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-15 03:59:42&quot;, &quot;record_count&quot;: 754, &quot;records_hash&quot;: &quot;6a1024efc98d66b96cc9c85a2d3992a8554c13d71ce1ac1d56707fe81efc65bc&quot;, &quot;snapshot_id&quot;: &quot;72c2b787c2074bc5e5075e0661809819140fe26930a7d74aa3c003a6f0c61c02&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;0c9ee0d4f493453a4a7e7748196e6c52164b15119bca424607f66b47d99bef6a&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;63378801d451dcfb6536cd70b6b1e1b79ed56ffc74dcc011734d91653b3d824c&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-15 03:59:31&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-15 03:59:38&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;451d8b546570af5d933798cdb69ec202fb43f8bfeef82de7b61df5809934e051&quot;, &quot;snapshot_id&quot;: &quot;f9281c3361fb1796a6ab798417aca90aafc8b1c79b8073ad3419bc6125058c8c&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;a402f48128c1f4a7a91a4e7829b99a8d503a2914d753ba6e8683d321ee83c06e&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;ad6423255cf498beba39d815fcea86f6fed96b1dd9ebfe8fcd351789bb7478a9&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-15 03:59:31&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-15 03:59:37&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;7e945949f2ac00477b13751c4a3940a21fe08950e5e65f12c3a403cfbd3683c0&quot;, &quot;snapshot_id&quot;: &quot;7cc664af79a997cb6331122dd7c703d9e972a5d4aa8d7f8740b1964f70f292fe&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-15 21:47:12</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">184</td><td>2026-10-15 04:01:54</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-15 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-15 03:59:27</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-15 03:59:27</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">2</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-15 03:59:39</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">298</td><td>2026-10-15 23:57:30</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-15 23:52:31</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-15 04:01:54</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">653</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">139385</td><td>2026-10-15 03:59:27</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">131</td><td>2026-10-15 21:25:37</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-15 23:11:36</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1792105901</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">462</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">644</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1847</td><td>2026-10-15 03:59:28</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">754</td><td>2026-10-15 03:59:28</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-15 03:59:28</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-15 03:59:28</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-15 04:01:50</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-15 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-15 03:59:27</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-16T05:10:10Z",
      "id": "urn:prexel:issue:fbc47a26-4bc9-5853-ad8c-d601f5dcbfbf",
      "summary": "Prexel daily — period ending 2026-10-15. 51 charts: 31 with a read, 20 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 45 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-15-daily-e75098628b90.html"
    },
    {
      "_prexel": {
        "content_hash": "1aaa78e67ce6012fbece3192d575e5c76d26f7badeaf1c3804addd26ded991a5",
        "context_hash": "c87915593020b89d81d4bb9085cfc4f795f77f564af45bde89e53aa2523447bc",
        "kind": "daily",
        "period_end": "2026-10-14"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 44 (daily)</h1>\n<p>Period: 2026-10-14 → 2026-10-14</p>\n<p>Context hash: <code>c87915593020b89d81d4bb9085cfc4f795f77f564af45bde89e53aa2523447bc</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 14 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ◆ Mixed — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>B200 vs H100 rental price: ▼ Bearish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>GPU marketplace depth: ▲ Bullish — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-14T04:01:53.555918+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 13 bullish, 9 bearish, 10 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-14 04:01:52+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-13 22:15:39+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.8551519670501344; b200_h100_ratio_change_14d_pct=-0.054379466455666554; b200_offered_usd_hr=8.376302083333332; band_measured_pct=-5.437946645566655; band_pct=5.0; h100_spot_usd_hr=2.9337500000000003</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.8551519670501344, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.054379466455666554, &#x27;b200_offered_usd_hr&#x27;: 8.376302083333332, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.437946645566655, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: -5.437946645566655, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.9337500000000003}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-13 22:15:39+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-13 22:15:39+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.4864864864864865; h100_depth_smoothed_3d=19.0; h100_dispersion_smoothed_3d=2.2204749584198; h100_price_change_14d_pct=0.0411167016816255</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.4864864864864865, &#x27;h100_depth_smoothed_3d&#x27;: 19.0, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.2204749584198, &#x27;h100_price_change_14d_pct&#x27;: 0.0411167016816255}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-13</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-13</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-13 22:15:39+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=4.693694371283417; band_pct=8.0; h100_spot_usd_hr=2.9337500000000003; spot_trend_30d_pct=0.046936943712834175</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.693694371283417, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 4.693694371283417, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.9337500000000003, &#x27;spot_trend_30d_pct&#x27;: 0.046936943712834175}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:58:38+00:00</li>\n<li>interpretation: Up 9.8% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 9.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.768190378299103, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 9.768190378299103, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3047615582, &#x27;total_tokens&#x27;: 231275431246159}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:58:40+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.41pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.40781114360903814, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.9430319831898, &#x27;top10_share_change_14d_pp&#x27;: 0.40781114360903814}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:58:40+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 7 cuts, 13 raises.; Fixed-basket price at prior-day token weights: $0.730/Mtok.; Seven-day like-for-like change: +9.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.21583252106033, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 343, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7302687090024264, &#x27;like_for_like_change_7d_pct&#x27;: 9.21583252106033, &#x27;price_cut_model_count&#x27;: 7, &#x27;price_raise_model_count&#x27;: 13}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:58:40+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: +7.14%.; Token-weighted effective price: $0.734/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.141447677719248, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 7.141447677719248, &#x27;effective_price_usd_mtok&#x27;: 0.7339554671644402, &#x27;matched_model_count&#x27;: 343, &#x27;total_standard_tokens&#x27;: 164756226820925, &#x27;unmatched_token_share&#x27;: 2.656801929799393}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-13 03:58:50+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +153.8%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 153.78151260504205, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 153.78151260504205, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:58:40+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +6.74pp.; Open-weights share of routed standard tokens: 63.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 6.735430957901755, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 16.172999482584842, &#x27;chinese_lab_token_share&#x27;: 71.29642250642463, &#x27;matched_model_count&#x27;: 343, &#x27;openweights_share_change_14d_pp&#x27;: 6.735430957901755, &#x27;openweights_token_share&#x27;: 63.85032448484756}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-12 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: revised in bronze; source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-13</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 04:01:26+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $50.70/MWh vs prior 14-day $49.55/MWh (+2.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.322348974404151, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 50.697730416666666, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 49.54707444152661, &#x27;caiso_da_trend_pct&#x27;: 2.322348974404151}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 04:01:26+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 17.77 MMBtu/MWh vs prior 14-day 16.26 (+9.2%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.236152598409612, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 17.766426375137517, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 16.264236658401114, &#x27;caiso_heat_rate_trend_pct&#x27;: 9.236152598409612, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 04:01:26+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +5.70% vs control mean +12.19% (gap -6.49pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -6.489665326159037, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 18.803005264940584, &#x27;dc_load_premium_pp&#x27;: -6.489665326159037, &#x27;erco_load_yoy_7d_pct&#x27;: 5.569780042685023, &#x27;pjm_load_yoy_7d_pct&#x27;: 5.6967273276537655}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:30+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +10.29% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.291290031897072, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 10.291290031897072, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-13</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Down 13.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -13.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.1023190175242, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -13.1023190175242, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;a0693baa90c54418f50684ac8a96dfbe97c88ad9890fe111227c75a8729d851a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-13</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-13</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Down 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.88%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.8826452976514325, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -3.8826452976514325, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;d843c5fec73823e580ec2583743e71b8790c9d4b7a50fd07e02b29a559260bf2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8884625d06ab19b9661b32a92b12a1bb46443c2ac791b397e5f36d1ae74d2926&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;00f61af6ccb75937a23a8fa873bdf8bc1e541081241901fcd95c3eb65d87e2b7&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;8f336ab413c969712dd45c763d1b262b1d313eaf7ab1b3891e86f1fc085d0e0d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;21e24f2ec2800eaea84116993f0eb786504d9efd8a2bbf2adeaa98598213626e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;090ab199bd862cd492e251eb53f2d206b484d0b5b0798a4c9896254f8ca205e1&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;43a2cbf035165fe64f55c8955e44b888b46dcc464868410f9867e3b97ac6e8e1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;882fdcee2d0f4367532cb52d730a7644729bd3094f494e4606a5da7ee01c3d62&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3937ddd319eb13dd4bfd908b3c7c35bec504795f2c0b54025c6d051af60935ea&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;a417173170582ccfb3f9c65dc0e2210479e9d1aa4ebec02b8148d51fa9e3c318&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;63d015db981cec01f5050efe0092dad1bbf7cd3addfbd89acff8bb4da4988d5f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7f1f49b9af3ba6a3694e0ca29a1f6c56e65e6f3dc11068002fea6eb31c4e1477&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-14 03:59:57.318000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:65138ba328e3b0bf08058fe07cadc4a93c73e853c988b97f91d80a57cef6b776:dba764c0d0de5c0495efbc2dfe3f3ded897f7e209b7adcf3fe52a43075f41c68&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c96ed4b571c33a02b2af3026fd38ceb86dd2b5da3d877a567f0dca46c7419514:2dbd76959c2d8fb22611928e3996728c981571a35a78a364fbe37354f49aae2b&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:01bbc54f8aba320216434edeb52a76e780df41403abb0ecae54f4a8aa5a65fe9:ecee5798d19cdf91fc56dfa1ae3c335a7f73e81ee04a793b9d5c46d9abf92e6d&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4d07b5ddbb313db13ad16086edad4c86260cb588825bff721b901a1272dd96e5:16e90a6de71deea898bd683751ccdbe53a5bd8c6487930c808a4189323bb60df&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b982649dc4f519b70db3e5471adc58c11e235a47c7abef7b05920d8d8bb3b7d1:ec5709e2fc6332534bcb300febece83644ee39bb5c380419dca1bc9edfe0fec2&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:c96ed4b571c33a02b2af3026fd38ceb86dd2b5da3d877a567f0dca46c7419514:2dbd76959c2d8fb22611928e3996728c981571a35a78a364fbe37354f49aae2b&#x27;, &#x27;aib_bronze.equity_ohlcv:dd265fd1f6fd81032165d8f600931a0aae0430f7176f41eb3e0196200d9f1636:1b4dcb175bf081f17fb7da66aad030368c579ceee7874d05cadf4f431d878bdf&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 109.90942654704466}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Up 3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.644732083635427, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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03:59:50+00:00</li>\n<li>interpretation: Down 13.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -13.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.577192436783857, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -13.577192436783857, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Up 5.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.17%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.174734796054703, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.29%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.29031346575057, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.29031346575057, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:bd8b404ada6de0d5bdd4c7261d8542a11fffd0404f0fd45159429a8634727959:48b2f96d9a53f315d9c6129494640582d0a04016ce8b96dc925c4be536dd03a0&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 134.1461981599598}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Down 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;99da5e810ebf35ca193eb40fa39aa6831c7f3ec7a5a2119814ac0ac2bc99047b&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;cc51c9989a5243877f8b673a03b62f84e7a4edff5c9e451df326d21bc5fac9d5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f4c63b49e62c7095fbc2ff5b86e0c5e01d0c8f90bc8a94a4c1c010c65cc71f62&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;347dbd87728e437d07f156d7039633da1af8b45446fe1d3d963b9cfb80184705&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-14 03:59:57.318000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d799c4caddd79cdf83c2f3e702a0b5960e1f89ea295b92588f57c4176c5ce293:abb0668af986cbff93721ff6f095561818b16a2ca9b8ccfa5576507f00043acb&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:98a6a8002dbdc804b4e96ba5a536f7d7b032eed11d4369f91b9a041a9f5ffcbb:1bbb91a8aec1063f3740efe0dd48b9ef135a2db76759f1b19946c320f810c1d4&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:283b8b725854f4e846461e2bd2676ec0955183a09116193cda1c7b5906ab8b21:16a0f624d19e0da84ec185c8896b643274e4d54fb0785f7bb7b481bc7c8f908f&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c17e1a65f5646d671a07cea2858abc6e74e407402cf2aa5cb4907a9d07603981:b2a619752c807f94a24d6eef37aadf526f73c742c1d05b6cab870dc17f9160f4&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:283b8b725854f4e846461e2bd2676ec0955183a09116193cda1c7b5906ab8b21:16a0f624d19e0da84ec185c8896b643274e4d54fb0785f7bb7b481bc7c8f908f&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:98a6a8002dbdc804b4e96ba5a536f7d7b032eed11d4369f91b9a041a9f5ffcbb:1bbb91a8aec1063f3740efe0dd48b9ef135a2db76759f1b19946c320f810c1d4&#x27;, &#x27;aib_bronze.equity_ohlcv:c17e1a65f5646d671a07cea2858abc6e74e407402cf2aa5cb4907a9d07603981:b2a619752c807f94a24d6eef37aadf526f73c742c1d05b6cab870dc17f9160f4&#x27;, &#x27;aib_bronze.equity_ohlcv:d799c4caddd79cdf83c2f3e702a0b5960e1f89ea295b92588f57c4176c5ce293:abb0668af986cbff93721ff6f095561818b16a2ca9b8ccfa5576507f00043acb&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.35004576121602}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.21502456537935144, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.21502456537935144, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;05e678e611450bcf14dd32493f1d00d6e9f743dbcdc6eba20c076f0d82721944&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1f76a0fb254e6d3ccf044df95a6d5a69f63d1970e6bc6955f0ec41e2cd02533b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c6dc2a3809d085b4c633c21d0face2230e56950c80fae7f4e8a0ed966622047a&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;50b6c9b88a980e8de30703456beed6e75af9da4479486f80571fe050f1023277&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;040a1ce606960c4c4d0220b71615ace93c64f3fc1a3f668e53c63d8742f25c23&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;599f57df4b8f698443f775fa7687b1948eb34b4447b7a6d4d302b0a0acdedc16&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-14 03:59:57.318000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:17b29ed4f6aae28295c26d3be3811fba87166f534229b568b61511627446e4dd:0be12c9ef01fe64bb88c5aad15fe892ff2f80e18ae913af274eb66bcbe6837e0&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9aee441a75e433426bcbe993a032d5738bb40d4867e2cad83036ccf3332e8fb6:f008907127a6748ca5aa421fb32847ea2cd14babca8f7ca3a9ab9f3f46b5a236&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ccc74c39c812bc6a2592ed2ab98d8098db7e959fa7b9afa971ec9dc43581190f:bf1ddc59831c7627a551bbfe166627507b4c8d7c37bd3b3bc74ca63307af3a46&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:afd9dbb5203aa815cbd84f1648713289183aa238db2fb5a5e3fd5e93ae50cb93:c313e91f2cd14abdf333e8cfed1d88c218f0aa550ef6ec9fd47a1eea31c276c6&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:17b29ed4f6aae28295c26d3be3811fba87166f534229b568b61511627446e4dd:0be12c9ef01fe64bb88c5aad15fe892ff2f80e18ae913af274eb66bcbe6837e0&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:9aee441a75e433426bcbe993a032d5738bb40d4867e2cad83036ccf3332e8fb6:f008907127a6748ca5aa421fb32847ea2cd14babca8f7ca3a9ab9f3f46b5a236&#x27;, &#x27;aib_bronze.equity_ohlcv:afd9dbb5203aa815cbd84f1648713289183aa238db2fb5a5e3fd5e93ae50cb93:c313e91f2cd14abdf333e8cfed1d88c218f0aa550ef6ec9fd47a1eea31c276c6&#x27;, &#x27;aib_bronze.equity_ohlcv:ccc74c39c812bc6a2592ed2ab98d8098db7e959fa7b9afa971ec9dc43581190f:bf1ddc59831c7627a551bbfe166627507b4c8d7c37bd3b3bc74ca63307af3a46&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.24398640535915}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.25%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.2528463289738343, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.2528463289738343, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;43a2cbf035165fe64f55c8955e44b888b46dcc464868410f9867e3b97ac6e8e1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;882fdcee2d0f4367532cb52d730a7644729bd3094f494e4606a5da7ee01c3d62&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3937ddd319eb13dd4bfd908b3c7c35bec504795f2c0b54025c6d051af60935ea&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;b1abdeba20d2e5aa30e362327f9aba94fd47a825784b08019578bf137b80acf9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;86398b51105affe80e802095a80d2869c88e4c0059fc0e6c3555ad505ee4decf&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4c1127218714e1dee2ffc0e12d0a3d9baade39ca346b25d153dfe3e21d3e9506&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-14 03:59:57.318000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2994670d97117bb96280029c2d860f0b6dff6f3ad71306c870b842950a01b3eb:8109945bdee49d4f6b7c476f9429626c8bb1b560d654b9de84a30ea677526b20&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bd828f3b646b83a173c6dbbd7ae9d53a064bc70a3b19b6a8f6996f01d18c69b8:ba4d5952087d70338a3358b66ad16f7dab08400096de646564f7081d132eb4ce&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bddb89568104d1c78f57b2874e1c4b172e84fa904a74fbb6b4f2224990df45a7:fe2667bf527d87576bedfdae43294f3d0404d35f516a9e8a5d044bfcc32444a5&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2994670d97117bb96280029c2d860f0b6dff6f3ad71306c870b842950a01b3eb:8109945bdee49d4f6b7c476f9429626c8bb1b560d654b9de84a30ea677526b20&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:bd828f3b646b83a173c6dbbd7ae9d53a064bc70a3b19b6a8f6996f01d18c69b8:ba4d5952087d70338a3358b66ad16f7dab08400096de646564f7081d132eb4ce&#x27;, &#x27;aib_bronze.equity_ohlcv:bddb89568104d1c78f57b2874e1c4b172e84fa904a74fbb6b4f2224990df45a7:fe2667bf527d87576bedfdae43294f3d0404d35f516a9e8a5d044bfcc32444a5&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.89954505074357}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Up 2.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.1096354911789517, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 2.1096354911789517, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;43a2cbf035165fe64f55c8955e44b888b46dcc464868410f9867e3b97ac6e8e1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;882fdcee2d0f4367532cb52d730a7644729bd3094f494e4606a5da7ee01c3d62&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3937ddd319eb13dd4bfd908b3c7c35bec504795f2c0b54025c6d051af60935ea&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;e97ec352cdb8b3c0d621124acf770a87485fc78fda4122fe6ae1d238ccd4442a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5f19323cb9dd5e4df6909b098f13787c69c9fdd413d0afbeb8d7a4504a030988&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4a12031bd5a5111ce1d9b7aaa9b0d748189f1332bd32b148dfe72d53a3d7f521&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-14 03:59:57.318000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:71c5202e7d9844c45eb7b1fe82485f4b3d8ad8ddef9437325c2f7e6d49f44498:5ab83045d422b8863578902237780f6af52a109aad4a36275dfdce861e01bb5d&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bd828f3b646b83a173c6dbbd7ae9d53a064bc70a3b19b6a8f6996f01d18c69b8:ba4d5952087d70338a3358b66ad16f7dab08400096de646564f7081d132eb4ce&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5896141d889aa67e63278126fc66e4304f16fcc832e8ead88ea9bd1b97efbfc:7baaa365f3095d581d30c72b83daa72ef75417a1d925f901ef90c4b49efdecaf&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:71c5202e7d9844c45eb7b1fe82485f4b3d8ad8ddef9437325c2f7e6d49f44498:5ab83045d422b8863578902237780f6af52a109aad4a36275dfdce861e01bb5d&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:bd828f3b646b83a173c6dbbd7ae9d53a064bc70a3b19b6a8f6996f01d18c69b8:ba4d5952087d70338a3358b66ad16f7dab08400096de646564f7081d132eb4ce&#x27;, &#x27;aib_bronze.equity_ohlcv:f5896141d889aa67e63278126fc66e4304f16fcc832e8ead88ea9bd1b97efbfc:7baaa365f3095d581d30c72b83daa72ef75417a1d925f901ef90c4b49efdecaf&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.1546176245308}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Down 2.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.3930874400538538, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -2.3930874400538538, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;43a2cbf035165fe64f55c8955e44b888b46dcc464868410f9867e3b97ac6e8e1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;882fdcee2d0f4367532cb52d730a7644729bd3094f494e4606a5da7ee01c3d62&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3937ddd319eb13dd4bfd908b3c7c35bec504795f2c0b54025c6d051af60935ea&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;e537f6c3dae8dcaceaacd417a1256a6c368f19ac5b978a556516e0f8959dbbcf&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f5573f884727d10df4e8c84d1ef4e43261062a814bcfe33ec82cd3f246a9e380&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;54d16e6eecdad6eee860dab902dc477e65665d3a823644302681bc627b21234f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-14 03:59:57.318000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:9b73920d0dbb4c19f9018f1d1637e6e9c7d058e8a429d349e031ee005c3bbf76:f28c75617f34c27b413169d481ed0664be53cfe98b4148852831db6679870b14&#x27;, &#x27;aib_bronze.equity_ohlcv:9e95e73ddb734702914d2bdfc09f1cdaef338c39752e0db510adbc49d6a477cb:b44426bfbbd18a96c3885422040e292c92bd347bfdb9bdfc7811b6c5e26b4e7a&#x27;, &#x27;aib_bronze.equity_ohlcv:bd828f3b646b83a173c6dbbd7ae9d53a064bc70a3b19b6a8f6996f01d18c69b8:ba4d5952087d70338a3358b66ad16f7dab08400096de646564f7081d132eb4ce&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 89.63963437757062}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.850.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 182, &#x27;epoch_values_hash&#x27;: &#x27;d6f5ee7e0a11f1519b0fe02659ae2691a586595ef241c47bbcdf11f5fe24267d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f307ba1fc650c8375e389c3f0dbc8eb63b736ecf88857f25751d7ae1b71ab33e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 559, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f48df5964258799c86b8c66f8998a22b9e6fa9ddf4d08df5fc1dc18a65266371&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 181, &#x27;epoch_values_hash&#x27;: &#x27;a3176e67690fc73db9d45eda28662fe7a5364067e5b9c232310a2d79fa5ee8ca&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d608c34f356a7edd6703dba7d3da7a9dcc7dc64b24b5a0be95ce05422349c4c1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-14&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;227ec2f10926d509c6c7ba31dd7f7299e256a7cc37662bd33a3297896717cf8e&#x27;, &#x27;symbol&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:033846b055b59cae3187b39024f4523f24b28e6862e5d77920558c223fe1f309:839b855c08cbebfe0751f8fe6b77506bb1e3f697373e82ef884faf98c8e9d745&#x27;, &#x27;aib_bronze.equity_ohlcv:af0fb1dbed68c88c24db8a02bb2c26fbf45645172af90f87de2100731e0a7521:e10ad72faea1a5e7fc423e68f25d9ca3ccd7bffdcda442e2cac01860d6a41508&#x27;, &#x27;aib_bronze.equity_ohlcv:d1798780bf665026dfd1e3a872b9f375e79fa63747c2a0ea2f4ac6c0b110cb8c:dac70ec5af8f964045780d003928979d4693ed4ed0c2a710381983013b2c3f70&#x27;, &#x27;aib_bronze.equity_ohlcv:f593b64bcf57afa1657fd324e1ddf431d3dc80616184b446ac52738381d6c1f5:879f81ed4a1ebf97bdf7d9df7f633391ddc4c93ff7df0d670af7f56f9c57efd9&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8502227171492204}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-14 03:59:50+00:00</li>\n<li>interpretation: Down 1.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.945407997330495, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.945407997330495, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-14 03:59:57.318000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:258372e56061f029c54527a1687665ae9846e00c4233eab8632cda7ae6c6a76e:3ba38621def2dd377866dd6ab7cab0f4ad6eebe7d2474444c855d0a97fe9006e&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:acebd8f97de111880b83a2fa5bd7b8275652dd855f6d9e0ffb05f9b310062579:d7e211242c9a9a8202364b47ac2a55ef31ef148dd07eb4c4356aea5a43c8ef7e&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f1a4abdee26525a42b833fe83083072f1dc42c4469d950e24f7af892d6344405:72a945da326fc4f5acdfa85ae92b684ba6294fb0daecd7c30adf871880a504a7&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:afd9dbb5203aa815cbd84f1648713289183aa238db2fb5a5e3fd5e93ae50cb93:c313e91f2cd14abdf333e8cfed1d88c218f0aa550ef6ec9fd47a1eea31c276c6&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-13&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e7c31d3c44a250cc35750675555f2400daa309d493c79b33677fb25f8ea0be83:53afb5a2172013a0d5baa9f91f35299377a5556d6bf3b5442378cd32a8e40296&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:258372e56061f029c54527a1687665ae9846e00c4233eab8632cda7ae6c6a76e:3ba38621def2dd377866dd6ab7cab0f4ad6eebe7d2474444c855d0a97fe9006e&#x27;, &#x27;aib_bronze.equity_ohlcv:26c53142a60d8bc1ca61fffb230ae4392a9da46dc7275b8ee96ae4b141377e32:3d5a37d309116415143924af143c97cb24be1b827aa800c5adeb38655e2e7ff0&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:51dfaddbaff34cf34538d761944b0d5e3a92a43002151386de40910f413a6f8e:67d8a9e53023582c6ce6b8ccbfde78c77577040f29723732a63c6b806a9ed3ac&#x27;, &#x27;aib_bronze.equity_ohlcv:9aee441a75e433426bcbe993a032d5738bb40d4867e2cad83036ccf3332e8fb6:f008907127a6748ca5aa421fb32847ea2cd14babca8f7ca3a9ab9f3f46b5a236&#x27;, &#x27;aib_bronze.equity_ohlcv:acebd8f97de111880b83a2fa5bd7b8275652dd855f6d9e0ffb05f9b310062579:d7e211242c9a9a8202364b47ac2a55ef31ef148dd07eb4c4356aea5a43c8ef7e&#x27;, &#x27;aib_bronze.equity_ohlcv:afd9dbb5203aa815cbd84f1648713289183aa238db2fb5a5e3fd5e93ae50cb93:c313e91f2cd14abdf333e8cfed1d88c218f0aa550ef6ec9fd47a1eea31c276c6&#x27;, &#x27;aib_bronze.equity_ohlcv:e7c31d3c44a250cc35750675555f2400daa309d493c79b33677fb25f8ea0be83:53afb5a2172013a0d5baa9f91f35299377a5556d6bf3b5442378cd32a8e40296&#x27;, &#x27;aib_bronze.equity_ohlcv:f1a4abdee26525a42b833fe83083072f1dc42c4469d950e24f7af892d6344405:72a945da326fc4f5acdfa85ae92b684ba6294fb0daecd7c30adf871880a504a7&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.08323369070555}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-13</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-13</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-13 / 2026-10-13 22:36:07+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,119B (conditional on an IPO), -1.43% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $689.; Probability-weighted bucket midpoint: $1,119B.; Seven-day implied-cap change: -1.43%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.4296241709653712, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0295, &#x27;full_set_prob_sum&#x27;: 0.982, &#x27;implied_cap_change_7d_pct&#x27;: -1.4296241709653712, &#x27;implied_cap_usd_b&#x27;: 1118.6440677966102, &#x27;ipo_by_2026_prob&#x27;: 0.0425, &#x27;no_ipo_by_2026_prob&#x27;: 0.9525, &#x27;volume_24h_total&#x27;: 688.63}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-13</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-13</td><td class=\"num\">115,497</td><td class=\"num\">24</td><td>—</td><td class=\"num\">18.42</td></tr>\n<tr><td>CISO</td><td>2026-10-13</td><td class=\"num\">607,222</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.864</td></tr>\n<tr><td>ERCO</td><td>2026-10-13</td><td class=\"num\">1,613,158</td><td class=\"num\">24</td><td>—</td><td class=\"num\">18.8</td></tr>\n<tr><td>PJM</td><td>2026-10-13</td><td class=\"num\">2,236,547</td><td class=\"num\">24</td><td>—</td><td class=\"num\">11.69</td></tr>\n<tr><td>SOCO</td><td>2026-10-13</td><td class=\"num\">639,009</td><td class=\"num\">24</td><td>—</td><td class=\"num\">8.169</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">42.01</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">31.61</td><td class=\"num\">0</td><td class=\"num\">-10.4</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">31.26</td><td class=\"num\">1</td><td class=\"num\">-10.75</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">172.56</td><td class=\"num\">0</td><td class=\"num\">25.97</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">146.58</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.934</li>\n<li>as of: 2026-10-13</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.965</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.04694</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>revised_in_bronze</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>409 benchmarked model identities; 243 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 10,255,773,785,335</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 3,948,577,554,515</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,509,541,274,271</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">4,910,848,616,726</td></tr>\n<tr><td>Gemini 4 Argon (High)</td><td class=\"num\">52.6</td><td>$2 / $10</td><td>Unreported</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 3,482,603,377,688</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,878,925,441,952</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 347 eligible configurations.</p>\n<p>Usage window: 2026-09-14 → 2026-10-13. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-14 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;93a363e94619b3cb0c048592b63115c07d20c2abe50bf39ca585c56dae4fcb70&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;98e7b9e8830536c7c916fda09efe2388109ba5baa9e2c5f842e16e17d76e8573&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;5dd5476dde52d247e17000fd670bc94ed2533744b2594dbe88f3e40e27691895&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-14 03:58:41&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-14 03:58:48&quot;, &quot;record_count&quot;: 1836, &quot;records_hash&quot;: &quot;0244b3451fe2e65c83d5bbbc5bb016059f5584a09d17a6d13ce3e39ec7130a1e&quot;, &quot;snapshot_id&quot;: &quot;f57546a2c7c4ed4807925cf578c9f1b8640a651d4959bf5ca537151dcc431d17&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;085e218d4b14eee1c7df3e7a9153a82b790d5a4732b86eeabe4f4a6bac0b1770&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;c8cd31074d73e9dd149364230740b235f5b99004d47e58acb40216c58e8b42be&quot;, &quot;58e5f0b1f08555bfd47a5e067bccacbc7a59fd212156c3f129cdc0fea0ae5cf4&quot;, &quot;dc11c91f3f230a1dab231ec3208883510ea50c1e66e57638dd23259022fa9f1b&quot;, &quot;d03ddfcf4f3e591c4fbe05b9911ae3df2acb130632c1f135ddfa7d00967ea81f&quot;, &quot;ae0fbe7f82b2fc0daf29cd5fc9250beae0283cf8d6a13f25b81fe1eb12b63a14&quot;, &quot;765a9280c1518859a3337b238fae6ffcfa19eb53f8061f7a9033de7dd9af5542&quot;, &quot;fb8d8df3ed946800252d4aab2e89ed0675c602db1b0c8af41a14ee926de442bf&quot;, &quot;6e72a2cf938d03013e890a8f9ccfe43ad0083e7bd9d369605cc3bb1fb1a8493c&quot;, &quot;733174098948a396b6ba6b050cfab2b143110198c9934c277d3f592f79b32992&quot;, &quot;b5972d919931d4af02ffb47dfbbaa48b339a4e6c01ca160b6846b80f6fd8ee96&quot;, &quot;72387cdb086a3ea422395f2bc77664bd0bc5aafed471f4c16701f24d0e8c6144&quot;, &quot;a0cd8a94b4f7f3fa1f4c4d279f81ff5e64bbf17f02b01a6157d686f6b61476ba&quot;, &quot;33d98bfb28fb784a21fedfb193a9ad1e68cec9a06b344c8fededb3968f2b677f&quot;, &quot;e60801bcff72e0ad4f8f4eaa9be6bde60ab600abda18b8967ebba36e14e70713&quot;, &quot;57ca3d27955d04c4ab01413e2e6f0a5d851cd6ea06990e6d7eed0c25882dcebb&quot;, &quot;546eab45f48b7475ebd33f381cab15fcfc59d217b7ea2e6051929c9eded6ed38&quot;, &quot;0d4349f8ca3aca4358cd6c1c9d54e16b1f425cec1a70c22c61b22a102afd859d&quot;, &quot;5d1f02f3971084634748881e97cfb96374a0da5e0c8d3613d0a38fa9c347ca38&quot;, &quot;4a2b8bce38a8980a93ee550a5d044c65fa82f950019619dce5f53ab457102dd2&quot;, &quot;7c305eb1abae6ee2d81aa6efc8befd0ffc228052441a6d849b26ee092770383c&quot;, &quot;2848504fcc439d3746aa542c907cf2de45b73054cf3cf87acec61fbaf83e3eee&quot;, &quot;c611d9fb2ddb939ba5a7021bc97faeef7995439929150968ac4ccab194469859&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-14 03:58:49&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-14 03:58:51&quot;, &quot;record_count&quot;: 752, &quot;records_hash&quot;: &quot;688c6471b38b97836ea42c32a081b59b5c2c37dbde84776f1e18fb6619692ec3&quot;, &quot;snapshot_id&quot;: &quot;c493172e4341b7f1c44273e300d802ca9bb5ea63c12067a23a3db5baedf7a028&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;e1fac332a840307d73d27af743a1459e87fa95ac13c716bbaaeeb965f4010201&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;1abd5dc5edb4c23d4016f00f63e879aca2dd45cb21b2a55b3d78c51bf8010554&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-14 03:58:45&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-14 03:58:48&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;91acee9aef4853aeafc34256740ae262764c35afde0cfed40f5ba2aece85492b&quot;, &quot;snapshot_id&quot;: &quot;5aabcf1204f79b126b278e2a75ccd1146c4d1413e05563f498550114136a435f&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;3f2df22551fa22fbc975db971a8d82696a9ed367de20b2cc461060c9d49eeb5e&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;ff6be163ad0b2ad8694593278221a4e674cd5f9a03b8f845efe4df309c335956&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-14 03:58:40&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-14 03:58:47&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;704b34e5aba090c620df064fc8550200ef692f8a95a3770c0d3710c08600c659&quot;, &quot;snapshot_id&quot;: &quot;93968e0e1042eec4432113858ca091467af19c8f0704f9a885fbe97b2b3f6254&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-14 22:07:29</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">183</td><td>2026-10-14 04:00:36</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-14 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-14 03:58:37</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-14 03:58:37</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">1</td><td>2026-10-14 03:58:36</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-14 03:58:48</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">308</td><td>2026-10-14 23:02:52</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-14 23:51:08</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-14 04:01:26</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">139127</td><td>2026-10-14 03:58:36</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">158</td><td>2026-10-14 21:16:33</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-14 23:25:41</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1792020347</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">462</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">651</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-14 03:58:36</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-14 03:58:36</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1836</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">752</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-14 03:58:36</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-14 04:01:26</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-14 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-14 03:58:37</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-14 03:58:36</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-15T05:10:10Z",
      "id": "urn:prexel:issue:39f5b370-7c3c-575b-b4fc-cdc94a744424",
      "summary": "Prexel daily — period ending 2026-10-14. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 44 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-14-daily-1aaa78e67ce6.html"
    },
    {
      "_prexel": {
        "content_hash": "79126ab55e767ecec7b57a726232a892cd2e3a8dcef91c69ccd51b07858a5818",
        "context_hash": "05f87bed493058577668cc4464c8f603149da29279fb7daefe45bd27e3b18926",
        "kind": "daily",
        "period_end": "2026-10-13"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 43 (daily)</h1>\n<p>Period: 2026-10-13 → 2026-10-13</p>\n<p>Context hash: <code>05f87bed493058577668cc4464c8f603149da29279fb7daefe45bd27e3b18926</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ◆ Mixed — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>B200 vs H100 rental price: ◆ Mixed — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Effective inference price: ▲ Bullish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-13T04:01:21.660842+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 13 bullish, 10 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-12 21:33:03+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is inside its registered 14-day band.</li>\n<li>evidence: b200_h100_ratio=2.583253995923622; b200_h100_ratio_change_14d_pct=0.023409938267229577; b200_offered_usd_hr=6.689192708333334; band_measured_pct=2.3409938267229577; band_pct=5.0; h100_spot_usd_hr=2.589444444444444</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.583253995923622, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.023409938267229577, &#x27;b200_offered_usd_hr&#x27;: 6.689192708333334, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.3409938267229577, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 2.3409938267229577, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.589444444444444}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-12 21:33:03+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-12 21:33:03+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.2927928099761138; h100_depth_smoothed_3d=26.16666603088379; h100_dispersion_smoothed_3d=2.3784215450286865; h100_price_change_14d_pct=-0.03738126789481095</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.2927928099761138, &#x27;h100_depth_smoothed_3d&#x27;: 26.16666603088379, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.3784215450286865, &#x27;h100_price_change_14d_pct&#x27;: -0.03738126789481095}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-12</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-12</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-12 21:33:03+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=-7.593180994261815; band_pct=8.0; h100_spot_usd_hr=2.589444444444444; spot_trend_30d_pct=-0.07593180994261815</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.593180994261815, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -7.593180994261815, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.589444444444444, &#x27;spot_trend_30d_pct&#x27;: -0.07593180994261815}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 03:58:49+00:00</li>\n<li>interpretation: Up 9.6% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 9.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.58017230541557, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 9.58017230541557, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3010706296, &#x27;total_tokens&#x27;: 227398212854558}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 03:58:50+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.21pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.21409061937437457, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.85822981304976, &#x27;top10_share_change_14d_pp&#x27;: 0.21409061937437457}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 03:58:50+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 6 cuts, 8 raises.; Fixed-basket price at prior-day token weights: $0.725/Mtok.; Seven-day like-for-like change: +7.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.341747238352658, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 342, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7248300885672304, &#x27;like_for_like_change_7d_pct&#x27;: 7.341747238352658, &#x27;price_cut_model_count&#x27;: 6, &#x27;price_raise_model_count&#x27;: 8}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▲ Bullish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 03:58:50+00:00</li>\n<li>interpretation: The effective inference price is rising through its band — per-token seller economics are firming.</li>\n<li>evidence: Seven-day effective-price change: +10.23%.; Token-weighted effective price: $0.736/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.226085960892428, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 10.226085960892428, &#x27;effective_price_usd_mtok&#x27;: 0.7359681007542018, &#x27;matched_model_count&#x27;: 342, &#x27;total_standard_tokens&#x27;: 160834769072234, &#x27;unmatched_token_share&#x27;: 2.677219323536404}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-12 03:54:56+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +153.8%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 153.78151260504205, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 153.78151260504205, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 03:58:50+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +5.25pp.; Open-weights share of routed standard tokens: 65.2%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 5.246715750494886, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 13.072057941752206, &#x27;chinese_lab_token_share&#x27;: 70.91974323519177, &#x27;matched_model_count&#x27;: 342, &#x27;openweights_share_change_14d_pp&#x27;: 5.246715750494886, &#x27;openweights_token_share&#x27;: 65.151022565099}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-11 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: revised in bronze; source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-12</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 03:59:00+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $55.55/MWh vs prior 14-day $46.86/MWh (+18.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 18.540460231527824, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 55.55361488095239, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 46.864686346288515, &#x27;caiso_da_trend_pct&#x27;: 18.540460231527824}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 03:59:00+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 18.99 MMBtu/MWh vs prior 14-day 15.42 (+23.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 23.12691338562892, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 18.985660959845987, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 15.419586537009664, &#x27;caiso_heat_rate_trend_pct&#x27;: 23.12691338562892, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 03:59:00+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +2.80% vs control mean +13.20% (gap -10.40pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -10.400363631153056, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 24.27028024567013, &#x27;dc_load_premium_pp&#x27;: -10.400363631153056, &#x27;erco_load_yoy_7d_pct&#x27;: 2.121773930215579, &#x27;pjm_load_yoy_7d_pct&#x27;: 2.795663456789799}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 03:58:51+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +7.47% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.470761708080181, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 7.470761708080181, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-12</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Down 12.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -12.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -12.424560642312299, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -12.424560642312299, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;e1bd8b0367dc9cf25227c094652ee1ff883d3690a246a564f3252d66650a0083&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-12</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-12</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.9997173754182316, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.9997173754182316, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;ba01046b110aa3d40d1953d5cb6323bb5aefbb2e854f3382d2442b87467b4f27&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0c563ef5cde3a15706c89093a5adc278f9fc72cddf64d43c8a22191748b67cfd&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6ef90115769654cd1ba4ae75377b308943b1fc8b20cf1cc57e00230743bcff0e&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;ec2114b6caa4504db79d26bc4f11e01bfd4d589a6f61779250c84b4ab83cd46c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;143cb66caf0e837a3f6abbf444a9680119d3e011872485895e8e2eed1c000229&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;de1f5dad85bc35c96b9f0623ee85b0be6b9de74bb6ff60d989771428c160c740&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;63a599df40b6f493dc3bf90e00c036430d26e1358e8ee97bc676601db72670e3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;81e5ab7f6bc6b9748585162b301f74fcb5218293786ad9a0dd6ff7539ba0fa28&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e6f1878def6a5cb286fd10c5f616404f5e700bea74c2d23da6bed582da182992&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;425effd81f83be95f3f32aa0f3abd170c91a07c13c81c2cfb04bb9d34806b80c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;76e422b93d24f6fa6ae4a626532a706a48873a89aa255d481da73219a2ec6321&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c73a53839a321e47dc39f32c26664cadaed376c0c56c1a1f6e9bbe4b658fc0ec&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-13 04:00:18.317000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:65138ba328e3b0bf08058fe07cadc4a93c73e853c988b97f91d80a57cef6b776:dba764c0d0de5c0495efbc2dfe3f3ded897f7e209b7adcf3fe52a43075f41c68&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c96ed4b571c33a02b2af3026fd38ceb86dd2b5da3d877a567f0dca46c7419514:2dbd76959c2d8fb22611928e3996728c981571a35a78a364fbe37354f49aae2b&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:01bbc54f8aba320216434edeb52a76e780df41403abb0ecae54f4a8aa5a65fe9:ecee5798d19cdf91fc56dfa1ae3c335a7f73e81ee04a793b9d5c46d9abf92e6d&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bed0479370dafc4e9598a76d473ec796e66cf9b579602f4e962fbb6a443c9250:cc46badf3f9c4a8720ce4e57e9561a99b2a6c09f29eee0ad015d7bf1dc7c4858&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:73cb2bb3c56ef915965aed14e102114f0e1e1ad5ecf7e9ae9138fad960100a77:1ca2af140ed52489891da6f058d41bbaeb2ab0df3c1e1ab35899d7124e53e3dc&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:e46e74647ecc656c15e17d5fcb78de9162e7fd52b986972ecd9780bafebd3ec3:419cad7331866a041679d0d3be418b5f092840aa94874366705e499a72a30a2d&#x27;, &#x27;aib_bronze.equity_ohlcv:f52b9f86ed55b4f86de44e523a7fb18b98ea63ff0bf471b2d89f6948aa67cfce:2505b1e5b99e8a67dfe20b50ce869d0508fd67b76920a1f8cff0c19f7fc1d312&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.91904756622002}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Up 2.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.29%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.2891895480605884, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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04:00:09+00:00</li>\n<li>interpretation: Down 11.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -11.93%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -11.932275813878102, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -11.932275813878102, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;f4301105f14d4f6081e2282c52889a1e9d053636dc4c62b9b5eec3fce9f243aa&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b7383d0e6057fdc05621a5bd32f2a26773713f3a19a9c354bc2fa618c98f0365&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bc16923f21d9b45e46391a4e1f62adea99ed81197b951025429c96059f7b3635&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;702578c715727a7febb9d238bd07ab6006f72e39f36b1a7b7ec3292fece4867e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;80d200b332303d65ea6c6500e1cee44da223556c43a292c6a52a46bb3f1caf01&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-13&#x27;, &#x27;row_count&#x27;: 387, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a76edd42a2c123da858d5eed5e88eb8667bd47a3d0823c6c565abe3084ad8f07&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;63a599df40b6f493dc3bf90e00c036430d26e1358e8ee97bc676601db72670e3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;81e5ab7f6bc6b9748585162b301f74fcb5218293786ad9a0dd6ff7539ba0fa28&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e6f1878def6a5cb286fd10c5f616404f5e700bea74c2d23da6bed582da182992&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;ce38d13d65dd824ec2438765791c271c2321e3f3ffaf2c4dc161348a564aa3e3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;61d4e5f124668e819860cdafee634add0a4b3e1e227adcde7cf8efc72d3e4f7c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a28b0b6109a95f973970da76f186ae7617949ff27c7490d607c332023c99d053&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;6c5ce8b00f8be7fda9c3a22333dd48475f1e5869d5b3596797e51ac56546875b&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;19411ef8941390493d5ad0066e6024f4c689567ec66a799e956e0a12dd50d7bf&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-13&#x27;, &#x27;row_count&#x27;: 495, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;0c26774e3cbf258d39182ca91f5ec1279530716e19d73fa6aa82152c35fbeff8&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-13 04:00:18.317000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3fdad1bfe7ece06b379b10ffc47c279eea77df2df13a314760257a2837ae040e:8cffdd86abdc9e37379ca8ef29b8bd665d280cd7e542af770643efffdbed2b5f&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e193122d6205c8b6db6cf0066fd53b61c7f066f982e68b941b265f3df742b2ed:0e07df3bfc26972ac2bfc3737b5bcd8146178e362de09f878a8eeacf0c62965e&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ecca1bb24abfad47848db51054e385954cfa0405ac38f96785d962e74157dc06:5f19c01ed594ae6e3d78fdd2658c22dfeeaf2c39a0da510998d2c224a91dd499&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:50bb61636fee85ba281712544e337535d9a5bbbc8dafc6eba84b6b3d1c9ecfec:a6cb228061d6356835460e81a3fbc14431888042f6545c4be7e0a5d1f052f409&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:810a536662975fca44e48501371de43dd1721722ba6d3b96b18c03c32e973bd2:9f72ae4fc0579bad61d6b19be354cb058fa93ad03c52dc9465cb00636bf38a56&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:8fa90a81c0dd9e19a64d86ab47a52ef55a6a1fa3ccd5af26e2369f7018af3ad3&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Up 4.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.52%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.522547808875355, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.499282635978183, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.499282635978183, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:f52b9f86ed55b4f86de44e523a7fb18b98ea63ff0bf471b2d89f6948aa67cfce:2505b1e5b99e8a67dfe20b50ce869d0508fd67b76920a1f8cff0c19f7fc1d312&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 134.4229513731696}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Flat over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:406c10b37e1a467bdde66ff986434c5343e5cae086b8e9e94847e02bfa54a4f9:0e68f26a27f6a272d597f7e2c9856c769a113238260fa1f4d206beff6f42c311&#x27;, &#x27;aib_bronze.equity_ohlcv:98a6a8002dbdc804b4e96ba5a536f7d7b032eed11d4369f91b9a041a9f5ffcbb:1bbb91a8aec1063f3740efe0dd48b9ef135a2db76759f1b19946c320f810c1d4&#x27;, &#x27;aib_bronze.equity_ohlcv:d799c4caddd79cdf83c2f3e702a0b5960e1f89ea295b92588f57c4176c5ce293:abb0668af986cbff93721ff6f095561818b16a2ca9b8ccfa5576507f00043acb&#x27;, &#x27;aib_bronze.equity_ohlcv:ed1d2f1ccc01cd94b45245a46b210f4d62a0a7ae5d7f2c5a37184827c6e4af58:655305e5e175e2279fef78b7f8b0c89c967bcf191b5879a1abd8e7e93058efd1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.38161218117828}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Up 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.01459631051932142, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.01459631051932142, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;92f06510638fb0dc015b2cd02263fabc943f3db650c42579c4f4b531fb8f48a1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4b3d3bca7505b3b8c82f0571bc45ec8a79f1c01e5ce5de259dd2e39ffc0a2f5e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-13 04:00:18.317000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:17b29ed4f6aae28295c26d3be3811fba87166f534229b568b61511627446e4dd:0be12c9ef01fe64bb88c5aad15fe892ff2f80e18ae913af274eb66bcbe6837e0&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9aee441a75e433426bcbe993a032d5738bb40d4867e2cad83036ccf3332e8fb6:f008907127a6748ca5aa421fb32847ea2cd14babca8f7ca3a9ab9f3f46b5a236&#x27;, 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&#x27;aib_bronze.equity_ohlcv:a046be76e691c31b876323befa16d0ce06ef720c40ec1daa8a320fa6da6592e1:102667374521d4e4c4af643db90ed0e029497a3bf430d3141aeb8c8e4b6c19af&#x27;, &#x27;aib_bronze.equity_ohlcv:fce96772ed66fac9ff3c5c7c8e745ade7391c1d86725291b187aa43fc166ee30:4972f6bd8553b0791a20b2179e33f999c09c26c01c269c41760c427bf30a4dbe&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.48156700791391}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Down 2.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.33%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.32565444068934, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.32565444068934, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;63a599df40b6f493dc3bf90e00c036430d26e1358e8ee97bc676601db72670e3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;81e5ab7f6bc6b9748585162b301f74fcb5218293786ad9a0dd6ff7539ba0fa28&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e6f1878def6a5cb286fd10c5f616404f5e700bea74c2d23da6bed582da182992&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;81765b4817bbf12818d1553f15fbc4d72a88277896aa7d1e10d27b0a159040f9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;51ab9e4ae66517b0e3163654da7582488b40b253a557bfb5e4fbcf30bf81db84&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3279700e794b6f407f3a031e1ee4ac4438da7b9c9736d5ac8c5b826d844187ad&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-13 04:00:18.317000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2994670d97117bb96280029c2d860f0b6dff6f3ad71306c870b842950a01b3eb:8109945bdee49d4f6b7c476f9429626c8bb1b560d654b9de84a30ea677526b20&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f52b9f86ed55b4f86de44e523a7fb18b98ea63ff0bf471b2d89f6948aa67cfce:2505b1e5b99e8a67dfe20b50ce869d0508fd67b76920a1f8cff0c19f7fc1d312&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bc575227e652202b3c7f853a1b5bb50a52983f41c7c6e76f270f3d0acd9e12a0:f974f583389c4148457cead3d25ba3feb521b36ec0dd8070e96f266e35db4626&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2994670d97117bb96280029c2d860f0b6dff6f3ad71306c870b842950a01b3eb:8109945bdee49d4f6b7c476f9429626c8bb1b560d654b9de84a30ea677526b20&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:bc575227e652202b3c7f853a1b5bb50a52983f41c7c6e76f270f3d0acd9e12a0:f974f583389c4148457cead3d25ba3feb521b36ec0dd8070e96f266e35db4626&#x27;, &#x27;aib_bronze.equity_ohlcv:f52b9f86ed55b4f86de44e523a7fb18b98ea63ff0bf471b2d89f6948aa67cfce:2505b1e5b99e8a67dfe20b50ce869d0508fd67b76920a1f8cff0c19f7fc1d312&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.82736829023165}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Up 2.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.40%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.4041991417907527, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 2.4041991417907527, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;63a599df40b6f493dc3bf90e00c036430d26e1358e8ee97bc676601db72670e3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;81e5ab7f6bc6b9748585162b301f74fcb5218293786ad9a0dd6ff7539ba0fa28&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e6f1878def6a5cb286fd10c5f616404f5e700bea74c2d23da6bed582da182992&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;ed6924df8cf45b55102e1fff2691a1fa0c55bf4dd4011c76ac97ba76cbdf260e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5a88a9f97cb80b8a56af8f6bd335a1ed919f1be1d5b8e4fb25f2826aac770120&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b60fbf899c801266bb6ce2ca752e8f0825d5e0f6973659c5462d45733d073b65&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-13 04:00:18.317000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:71c5202e7d9844c45eb7b1fe82485f4b3d8ad8ddef9437325c2f7e6d49f44498:5ab83045d422b8863578902237780f6af52a109aad4a36275dfdce861e01bb5d&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f52b9f86ed55b4f86de44e523a7fb18b98ea63ff0bf471b2d89f6948aa67cfce:2505b1e5b99e8a67dfe20b50ce869d0508fd67b76920a1f8cff0c19f7fc1d312&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9bf5eef99555b0d353263a5affee923129d9f6dc459c552f3e2e94110f7fca0d:0d330cb9ea4e8b44dd141574ef01efd9c405dfe95b5347919bb29f9b542a2880&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:71c5202e7d9844c45eb7b1fe82485f4b3d8ad8ddef9437325c2f7e6d49f44498:5ab83045d422b8863578902237780f6af52a109aad4a36275dfdce861e01bb5d&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:9bf5eef99555b0d353263a5affee923129d9f6dc459c552f3e2e94110f7fca0d:0d330cb9ea4e8b44dd141574ef01efd9c405dfe95b5347919bb29f9b542a2880&#x27;, &#x27;aib_bronze.equity_ohlcv:f52b9f86ed55b4f86de44e523a7fb18b98ea63ff0bf471b2d89f6948aa67cfce:2505b1e5b99e8a67dfe20b50ce869d0508fd67b76920a1f8cff0c19f7fc1d312&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.46085015142572}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.97%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.974823454317377, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -2.974823454317377, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;63a599df40b6f493dc3bf90e00c036430d26e1358e8ee97bc676601db72670e3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;81e5ab7f6bc6b9748585162b301f74fcb5218293786ad9a0dd6ff7539ba0fa28&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e6f1878def6a5cb286fd10c5f616404f5e700bea74c2d23da6bed582da182992&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;048a72ed7d50cf1846346af389ef9291d36675c20881387697afd2f1df5fc030&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5d5140ade4e93cca8cf98b4cda04f839610da705731530cab1c5658c66e71edb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 539, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3aa467f4ae540b0409e8ac1a0db94280f62248f2ca8e50a5267d88f86668fa2d&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-13 04:00:18.317000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1a330cf448f7da5f1e6173fd811d1b75108df77966acd3e30de56c574dc8df6a:a0346dab788692483ee65509d1e0d8ff123436e7d82d7bfe83a83a98ca819ff0&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3ae922822317a03fcc12827679271b9f80e77820732a810e365f2e6f8e6970eb:fbda8226f6b123b1dcb333c82029e01e88e63bd2afc6acba0979dd262a13cf72&#x27;, &#x27;aib_bronze.equity_ohlcv:9e95e73ddb734702914d2bdfc09f1cdaef338c39752e0db510adbc49d6a477cb:b44426bfbbd18a96c3885422040e292c92bd347bfdb9bdfc7811b6c5e26b4e7a&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:f52b9f86ed55b4f86de44e523a7fb18b98ea63ff0bf471b2d89f6948aa67cfce:2505b1e5b99e8a67dfe20b50ce869d0508fd67b76920a1f8cff0c19f7fc1d312&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 89.10538324458021}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.848.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 181, &#x27;epoch_values_hash&#x27;: &#x27;1cb65f1b3b1ac4612f20219197dec9de0d51a20c7538818b3f6950ea6e72d762&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dcbdf1e691e4c47be7e454453e73826de5f04715a23104de02899fde80a7f672&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 558, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7cca0db8869d701222bf8faf1f2f17ace7c98407024d556cde59dd2b3f7475b1&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;2e5c2d9212b6fd3d1e37594d7580a48f9fc4d0b8956fae27f1570bea3427068d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;bfd76c235bd40f9cb62a9154997c3997402520a44f06b7c9ff3aa9c79b8b1615&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-13&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 550, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b768cf851bd56943b8c0101b06bcbd87461f4621aaa3e670c46f8f0b479fd9a4&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:d1798780bf665026dfd1e3a872b9f375e79fa63747c2a0ea2f4ac6c0b110cb8c:dac70ec5af8f964045780d003928979d4693ed4ed0c2a710381983013b2c3f70&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cd134bb1f41315264e3fd64d659a81d430d61ac4ed3a2e98b84b4d0b05a61899:db4d9a660709cd75996368897088ba51f5c0d29dad1ee1487495bf96733aa9c6&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:15829f2ab8a7598b6dd82e98551e489512ee5031b7d5e4d098d5fcf412b83e26:13b443840ef9d7e4105e4114c3f716d0a6590e32a63df2b32e8027d0c67cbbdc&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:033846b055b59cae3187b39024f4523f24b28e6862e5d77920558c223fe1f309:839b855c08cbebfe0751f8fe6b77506bb1e3f697373e82ef884faf98c8e9d745&#x27;, &#x27;aib_bronze.equity_ohlcv:15829f2ab8a7598b6dd82e98551e489512ee5031b7d5e4d098d5fcf412b83e26:13b443840ef9d7e4105e4114c3f716d0a6590e32a63df2b32e8027d0c67cbbdc&#x27;, &#x27;aib_bronze.equity_ohlcv:cd134bb1f41315264e3fd64d659a81d430d61ac4ed3a2e98b84b4d0b05a61899:db4d9a660709cd75996368897088ba51f5c0d29dad1ee1487495bf96733aa9c6&#x27;, &#x27;aib_bronze.equity_ohlcv:d1798780bf665026dfd1e3a872b9f375e79fa63747c2a0ea2f4ac6c0b110cb8c:dac70ec5af8f964045780d003928979d4693ed4ed0c2a710381983013b2c3f70&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8482989403234804}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-13 04:00:09+00:00</li>\n<li>interpretation: Down 1.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.57%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.5666753210820117, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.5666753210820117, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-11&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-13 04:00:18.317000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:258372e56061f029c54527a1687665ae9846e00c4233eab8632cda7ae6c6a76e:3ba38621def2dd377866dd6ab7cab0f4ad6eebe7d2474444c855d0a97fe9006e&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-11&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:9814ebadf29e6f5b77276eadeee1aefc6df1e12377d23ebf9f7d4d8a0ce04efc:f5dc73e07ad718f9005a5215b250a3e9b6cf8e47297fcfe104a9b9b1e7667beb&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4767b6a07581f5adf07270f2004751a6bed2fa3fa92bd3915582c0235804b470:d6e45c46bbe0266ac069e91140ffbe77d0c4604b24bcd70d13ab773771043210&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a046be76e691c31b876323befa16d0ce06ef720c40ec1daa8a320fa6da6592e1:102667374521d4e4c4af643db90ed0e029497a3bf430d3141aeb8c8e4b6c19af&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-12&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1a1d4df269d2f04ca52019847da3e9c50b26a0cd45fcd2eb9e0d7951165137f8:88b0fb441e30e0380a3c5c12e3797c39beef6eae5c93904bf6caf64e662b1de6&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:1a1d4df269d2f04ca52019847da3e9c50b26a0cd45fcd2eb9e0d7951165137f8:88b0fb441e30e0380a3c5c12e3797c39beef6eae5c93904bf6caf64e662b1de6&#x27;, &#x27;aib_bronze.equity_ohlcv:258372e56061f029c54527a1687665ae9846e00c4233eab8632cda7ae6c6a76e:3ba38621def2dd377866dd6ab7cab0f4ad6eebe7d2474444c855d0a97fe9006e&#x27;, &#x27;aib_bronze.equity_ohlcv:26c53142a60d8bc1ca61fffb230ae4392a9da46dc7275b8ee96ae4b141377e32:3d5a37d309116415143924af143c97cb24be1b827aa800c5adeb38655e2e7ff0&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4767b6a07581f5adf07270f2004751a6bed2fa3fa92bd3915582c0235804b470:d6e45c46bbe0266ac069e91140ffbe77d0c4604b24bcd70d13ab773771043210&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:51dfaddbaff34cf34538d761944b0d5e3a92a43002151386de40910f413a6f8e:67d8a9e53023582c6ce6b8ccbfde78c77577040f29723732a63c6b806a9ed3ac&#x27;, &#x27;aib_bronze.equity_ohlcv:9814ebadf29e6f5b77276eadeee1aefc6df1e12377d23ebf9f7d4d8a0ce04efc:f5dc73e07ad718f9005a5215b250a3e9b6cf8e47297fcfe104a9b9b1e7667beb&#x27;, &#x27;aib_bronze.equity_ohlcv:9aee441a75e433426bcbe993a032d5738bb40d4867e2cad83036ccf3332e8fb6:f008907127a6748ca5aa421fb32847ea2cd14babca8f7ca3a9ab9f3f46b5a236&#x27;, &#x27;aib_bronze.equity_ohlcv:a046be76e691c31b876323befa16d0ce06ef720c40ec1daa8a320fa6da6592e1:102667374521d4e4c4af643db90ed0e029497a3bf430d3141aeb8c8e4b6c19af&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.48911426714447}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-12</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-12</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-12 / 2026-10-12 20:56:37+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,112B (conditional on an IPO), -0.07% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $0.; Probability-weighted bucket midpoint: $1,112B.; Seven-day implied-cap change: -0.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.07485029940120791, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.03, &#x27;full_set_prob_sum&#x27;: 0.9815, &#x27;implied_cap_change_7d_pct&#x27;: -0.07485029940120791, &#x27;implied_cap_usd_b&#x27;: 1112.5, &#x27;ipo_by_2026_prob&#x27;: 0.0435, &#x27;no_ipo_by_2026_prob&#x27;: 0.9515, &#x27;volume_24h_total&#x27;: None}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-12</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-12</td><td class=\"num\">121,492</td><td class=\"num\">24</td><td>—</td><td class=\"num\">21.3</td></tr>\n<tr><td>CISO</td><td>2026-10-12</td><td class=\"num\">602,970</td><td class=\"num\">24</td><td>—</td><td class=\"num\">3.796</td></tr>\n<tr><td>ERCO</td><td>2026-10-12</td><td class=\"num\">1,493,865</td><td class=\"num\">24</td><td>—</td><td class=\"num\">10.51</td></tr>\n<tr><td>PJM</td><td>2026-10-12</td><td class=\"num\">2,106,132</td><td class=\"num\">24</td><td>—</td><td class=\"num\">7.064</td></tr>\n<tr><td>SOCO</td><td>2026-10-12</td><td class=\"num\">595,615</td><td class=\"num\">24</td><td>—</td><td class=\"num\">5.336</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">43.72</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">41.39</td><td class=\"num\">0</td><td class=\"num\">-2.327</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">42</td><td class=\"num\">0</td><td class=\"num\">-1.718</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">68.98</td><td class=\"num\">0</td><td class=\"num\">14.53</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">54.45</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.589</li>\n<li>as of: 2026-10-12</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.07593</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>revised_in_bronze</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>408 benchmarked model identities; 243 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 9,323,952,517,832</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 3,577,106,957,380</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,565,414,222,908</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">4,912,169,553,472</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 3,137,071,748,414</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,866,721,097,196</td></tr>\n<tr><td>Claude Fable 5 (Max, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 346 eligible configurations.</p>\n<p>Usage window: 2026-09-13 → 2026-10-12. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-13 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;b86974b1fefe7fab2d6b56b38c8fce8bb00be231de819c3e77e00709640af1a4&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;ec9b272448c328e62e1eea99ef61e45f92a3c80002dd19b57d52525aea4a4726&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;080315fb8596a3d86a87eaf391b63f76671ee78483c4956e84486a9b3e78e0d5&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-13 02:16:31&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-13 02:16:32&quot;, &quot;record_count&quot;: 1829, &quot;records_hash&quot;: &quot;7a023fb70b56711bef4b0ee1a74bc5927ad0ee942ba9695cb2d02e1e21d0ca3d&quot;, &quot;snapshot_id&quot;: &quot;ab67c4f988b2e1a39d90b6f7698c1b6f94565f8e0972fb2cd9d0e805ffd7c89b&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;0c599591417be812a4c3d96ae7867859fb0513cfdaf81dfe35042b188a8ba52d&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;2b7a05b2c935dd84b7f55b7c4b426b668403100e8bcadec15d9cf840acc008b0&quot;, &quot;68620c558d2a076ccc182a0d954e215826d08cd93f32689ea05f0ed4e275f8d1&quot;, &quot;50c67f59533e84b724bdf5c7bdd430f67fdbb6796818e843f54328cbc58ab730&quot;, &quot;cdc7427fc79a50a26b9f996d7a33c99b87673d6ae12dc2882b53592c5a528dd0&quot;, &quot;4b4b102fde18d65776191e7a63d12b1f05af25e3cc2d751bc99ddd1042517c6d&quot;, &quot;0b5f6b9b9b22ba3d155ded749b0362d5f82ff7596bc2607d80e69fb0a7c515f4&quot;, &quot;87c7073de708882784bec85d95c302e3a5ec1b4ce5a04aebd4fa2f65eb37c23f&quot;, &quot;8007eecbb3f64326c19f7803bc21e73196e65f76939e34fedc3da05ffb53b11d&quot;, &quot;67e96ec1d1ae9f4df85b1d1c62c9f310b86de99b0f52a8185a1a1c4f3ee53804&quot;, &quot;2335cf09b6fdf1677fd5aa24f17b80a785273b969f1b650caa3cee0206fadf23&quot;, &quot;ccd166b9523f6a16122ebf55e7129229aadcb3a5b2bc22afc5c08da0b2aa878c&quot;, &quot;51ece105af1e41b9b4df3884ed699427c61163290b0a67102f8df9885ee69bb9&quot;, &quot;88646a9a4ecd68172b8a5b9118f02d71df67662378e3945fd208943b215231f8&quot;, &quot;dbd501ea8e12c909332a28bf326483b1d725b8de41446a0335987df2322186dd&quot;, &quot;7ef47d55b3c12c22d37e28384e0630299c4098aba73be89b63f61e4901c5bd73&quot;, &quot;f4baa027260c24b4400c6026fe77c8b216babf456e87980237f1d79a380955df&quot;, &quot;d7ce43283d76fe1b7b589ef3bc759991dd95f6c19df5fac916ead9f3e05c8c13&quot;, &quot;bf217bb03f771b86dc5b1c3009d949a6841d5b0a5dc4a289704496e5e712d565&quot;, &quot;331c66a6fbe56348ce39dd7407e920bffae7601bdf13406b3fcb258143810633&quot;, &quot;5dbee72ecce663baa10980f1b2a9172c98c4a86eb589a3a4e94ac33a82935374&quot;, &quot;84610a848f57e657bc9b780b7729a12191daaa24f07d80063b3ae0b8436b954f&quot;, &quot;f18d8b85f02474228660ec061967fcdc44d2291bf1d562c4827a7eac9090f06a&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-13 03:59:00&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-13 03:59:06&quot;, &quot;record_count&quot;: 748, &quot;records_hash&quot;: &quot;dec65c1db4f83ca43d56c60afacd646b4ab4cf95426b167f300b521748d39aa2&quot;, &quot;snapshot_id&quot;: &quot;7539b4a21c0b333460f2db33dce1220c69d44ef5f264c8f634e448908d0d66d3&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;198ccbd619990f2a7b114db036a7f115e84b9461a327345a417ab68a41ffce08&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;a9573b4dd08797081bc348de8812a6fce8b84573502a539612dd2d721b5ebedc&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-13 03:58:56&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-13 03:58:58&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;5a1d7848042db06dac883880ff76d21fddbb8d4dd227b45964c415a9bf88cdf2&quot;, &quot;snapshot_id&quot;: &quot;d7474a4df08d2c16518cea4004f8d420e78f63615c2d805b470e27a8e49154c6&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;3ebfbf81cf486243effa28eaed9df364c2799ae0e2edfc8aa2785116ff156dfb&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;0c70fed2eb29d7832d15f1ff34379f75df227057f029abe55427a4728ea07d0b&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-13 02:15:49&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-13 02:15:49&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;954b8cf807ebb454e7b354c9d932c3311048e8c738100d89c42157afbf1ad2ef&quot;, &quot;snapshot_id&quot;: &quot;c4af2fe327decbebd4dae2e0132d05320c4afa31c36e8c205ca4e46be4381fed&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-13 22:36:07</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">183</td><td>2026-10-13 04:00:51</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-13 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-13 03:58:47</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-13 03:58:47</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:58:57</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">308</td><td>2026-10-13 23:47:30</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-13 23:56:24</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-13 04:00:51</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">138868</td><td>2026-10-13 03:58:47</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">114</td><td>2026-10-13 22:15:38</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-13 23:16:18</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791933387</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">459</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">656</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">748</td><td>2026-10-13 03:58:48</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:58:48</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:59:00</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-13 05:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-13 03:58:47</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-14T05:10:09Z",
      "id": "urn:prexel:issue:86d64a20-b864-5455-8f69-d8a71f3e5363",
      "summary": "Prexel daily — period ending 2026-10-13. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 43 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-13-daily-79126ab55e76.html"
    },
    {
      "_prexel": {
        "content_hash": "9c1acf10c14123e2245714364a0bc9df506cb91cdd6293d5536dbb4cfa950913",
        "context_hash": "7caa648e9cf82bff299906aad9b81a344b178a691747682cb8e943c17078fdae",
        "kind": "daily",
        "period_end": "2026-10-12"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 42 (daily)</h1>\n<p>Period: 2026-10-12 → 2026-10-12</p>\n<p>Context hash: <code>7caa648e9cf82bff299906aad9b81a344b178a691747682cb8e943c17078fdae</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Effective inference price: ▲ Bullish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Evidence revised; cause unclassified. Published 2026-10-12T03:57:11.192934+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); New evidence; Evidence eligibility changed. Published 2026-10-12T03:57:11.192934+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 28 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 14 bullish, 9 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-11 18:56:39+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.8002725507765827; b200_h100_ratio_change_14d_pct=0.10518582442321675; b200_offered_usd_hr=7.8127604166666655; band_measured_pct=10.518582442321675; band_pct=5.0; h100_spot_usd_hr=2.79</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.8002725507765827, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.10518582442321675, &#x27;b200_offered_usd_hr&#x27;: 7.8127604166666655, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.518582442321675, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 10.518582442321675, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.79}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-11 18:56:39+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-11 18:56:39+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.29279279279279274; h100_depth_smoothed_3d=26.166666666666668; h100_dispersion_smoothed_3d=2.562139486103828; h100_price_change_14d_pct=-0.038640478727906914</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.29279279279279274, &#x27;h100_depth_smoothed_3d&#x27;: 26.166666666666668, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.562139486103828, &#x27;h100_price_change_14d_pct&#x27;: -0.038640478727906914}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-11</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-11</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-11 18:56:39+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=4.14045856797425; band_pct=8.0; h100_spot_usd_hr=2.79; spot_trend_30d_pct=0.0414045856797425</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.14045856797425, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 4.14045856797425, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.79, &#x27;spot_trend_30d_pct&#x27;: 0.0414045856797425}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-12 03:54:55+00:00</li>\n<li>interpretation: Up 10.2% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 10.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.233885956148448, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 10.233885956148448, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2982615102, &#x27;total_tokens&#x27;: 223442131434162}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-12 03:54:56+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.08pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.8%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.08350298309228776, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.76346201152833, &#x27;top10_share_change_14d_pp&#x27;: 0.08350298309228776}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-12 03:54:56+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 6 cuts, 8 raises.; Fixed-basket price at prior-day token weights: $0.708/Mtok.; Seven-day like-for-like change: +6.53%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.529134494630284, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 342, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.707550423034133, &#x27;like_for_like_change_7d_pct&#x27;: 6.529134494630284, &#x27;price_cut_model_count&#x27;: 6, &#x27;price_raise_model_count&#x27;: 8}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▲ Bullish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-12 03:54:56+00:00</li>\n<li>interpretation: The effective inference price is rising through its band — per-token seller economics are firming.</li>\n<li>evidence: Seven-day effective-price change: +36.94%.; Token-weighted effective price: $0.717/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 36.93926850902467, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 36.93926850902467, &#x27;effective_price_usd_mtok&#x27;: 0.7166134563240146, &#x27;matched_model_count&#x27;: 342, &#x27;total_standard_tokens&#x27;: 155950649960900, &#x27;unmatched_token_share&#x27;: 2.7315277040923056}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-11 06:04:59+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +153.8%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 153.78151260504205, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 153.78151260504205, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-12 03:54:56+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +3.94pp.; Open-weights share of routed standard tokens: 67.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 3.939173230311482, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 9.885331405331065, &#x27;chinese_lab_token_share&#x27;: 70.79011780928, &#x27;matched_model_count&#x27;: 342, &#x27;openweights_share_change_14d_pp&#x27;: 3.939173230311482, &#x27;openweights_token_share&#x27;: 66.97612015202957}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-10 16:00:00+00:00</li>\n<li>interpretation: Up 54.6% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 54.65%.</li>\n<li>conflicting evidence: Month-on-month growth has the opposite sign at -0.57%.</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: -0.5726315925897248, &#x27;source_period&#x27;: &#x27;2026-09-01&#x27;, &#x27;value&#x27;: 511857399000.0, &#x27;yoy_pct&#x27;: 54.64861207105231}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-11</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-12 03:55:05+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $58.39/MWh vs prior 14-day $45.46/MWh (+28.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 28.446063398054893, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 58.39442535714286, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 45.46221488795518, &#x27;caiso_da_trend_pct&#x27;: 28.446063398054893}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-12 03:55:05+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 19.34 MMBtu/MWh vs prior 14-day 14.96 (+29.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 29.327171527282125, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 19.34300192552436, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.956641900610862, &#x27;caiso_heat_rate_trend_pct&#x27;: 29.327171527282125, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-12 03:55:05+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +0.81% vs control mean +14.99% (gap -14.18pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -14.180596895683689, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 30.028909193223566, &#x27;dc_load_premium_pp&#x27;: -14.180596895683689, &#x27;erco_load_yoy_7d_pct&#x27;: -0.04365593924703221, &#x27;pjm_load_yoy_7d_pct&#x27;: 0.8120297313045793}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-12 03:54:56+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +6.33% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.334645890177861, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 6.334645890177861, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-11</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Down 17.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -17.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -17.362118273655412, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -17.362118273655412, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;fff53db9ff7abe7365c9af57aa45756172ffb0060802349fb651d547d9d58716&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-11</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-11</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Down 4.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.186694309699979, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.186694309699979, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c599d653bae612139c3592c6ed6985bc0440ca9db1f603a6ee580f9f7f957e7d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6ac7750a248161c0a15d4d96e2ac1c5d6cceece35a423560a6fb70b24e4d5810&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;baf25ee2c7773b58233bd5a59304384dd365df2d6a8258081232a8c0cdcf4772&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;332c189f44f712634b85c977b882fc5794f64a6083ff6efec840d1f55e7f36e0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;bae2d062368f15c861ecd3d305ea07c3126f0350abbe5721f74116964255e36e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;22cefbd3dc52d210b0967ef5f7f034613da637365043a021f2f9ebdb981c51ca&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fcfcc46a46c0460cf29d9496eb1b9bdc01bde5cf086070519f758ca02f3d95ff&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;ec4cabdcc6c4bcdb538d69f2696ef7bf94e4e2bf9863d1c6c362ae0cd73fe835&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9c08a00091ff84e4d00b16c1f93f154df02f43d46a4ddac4a4fc82cc1b0d060c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3c4f5d2e8c5903f6ef3049d474368677e9a6b63185dd6d271717a36e300a381b&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:920b0864f10db72f85eaf36747c27c8c0e1e1cdf29c2ae37be77014da388b21c:5188f14e7bdbb62d4f82376fa96ea6021aa37df2da2baf0aeeb3cd535411b8ab&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf36dbd991a2a0057f41555c930b8213e25bbaa57a8ae74f32e7e5acb82f02db:8b4c13bacf5a764c4390e382161d0858041c6a9c0b56658e462a01debca1fdc3&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0419528789f78ee4e932b0b7dc5937af94b49776ae4fd6acbd5ee46de1347869:4da67ca70be5b3df4a961bff411cf6fd0b275a0a64fc3fa43721b90df44c7d98&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:be4dc01bb45d07d6e5d974b11554e2bdca95daf9d6ec392564d821048969d34b:03bb8ef2bfdd72c611c03163a833191c971b12dc8af0a9e09c98054d012fe0cd&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b137275ba99ee1962604804b5b28ac44eb298a222d64ec194117c4f24a33077:e73690d892bdcdeae4fa0e303dfedd54b501500dd0d70cb580414353a476cefd&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:cf36dbd991a2a0057f41555c930b8213e25bbaa57a8ae74f32e7e5acb82f02db:8b4c13bacf5a764c4390e382161d0858041c6a9c0b56658e462a01debca1fdc3&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.15555980190781}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Up 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.0963457920644792, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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03:56:09+00:00</li>\n<li>interpretation: Down 14.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.02909029676569, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.02909029676569, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;12ee85c85408fe83ea6f823f555c02f8ea54a0f7c30f6f517070e076be23bae5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;81f5c692ab9d5a091be807491b6c8abb30522baa21ef7e60f58571b1f48407be&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8708b95cc5fd38c0dbe21ef0aa1bb3b491ba32eb1fb63277e0ef358409eaf2ec&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;d33b4970da2d6bbc7fdb22b40f41802370cd820b89d6a4abac1f3a3d0e725733&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;3cce2c25792a86eda969d08c0edf22f94a4be7e1f551465492e17506731d612c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-12&#x27;, &#x27;row_count&#x27;: 386, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b9abc7532e8230b326e62f1d9111175074d3e48670083036d49a63e47df52438&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fcfcc46a46c0460cf29d9496eb1b9bdc01bde5cf086070519f758ca02f3d95ff&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;4d125def1460470097bdbbda8bd965812801dc8d87bea480bafc1782991634a9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c6f5be1d12aa6b362e07bdaa5690239cd9082e7bb33cc427172eb8db47afa3f8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ed61812667e443ef26f2f1179fb916447a94394618d7e32b469b69a310aa15fb&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;58b2f3e1106999c11ee9aef4e2fff8251b6bbc42b4206611737c69c8d5d427be&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;12716a261def2887e5fe73a405cd946d3b9beac3719276d2a71e3e155823dec9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-12&#x27;, &#x27;row_count&#x27;: 494, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1c12042f5ad05749a7c80b98a6ed557d419985b8d954ded16454a61916d002b2&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9cbbcc654d4d260617705b1569c31d29f42973686e1a58eae679f0316a5f43bc:5cbaacd120a7ba8a86f8bc039d48d50b2fa5d6c8d665f52eebdb2437a8cbea32&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e055c639afd4188c9f28bb7c51b75ab51aa75dc59f9434ad502cd8ff0b621fef:16adc7182164b5a98d30412abd8429626fe0a1c9b9159253b05dd483df325cb1&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Up 5.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.503032286824627, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.0102014935634136, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.0102014935634136, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fcfcc46a46c0460cf29d9496eb1b9bdc01bde5cf086070519f758ca02f3d95ff&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;SOX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;0f60793c39d7deb6082a45fbfce5fe3d7a6bd5653054e364fd7a219f3e6ffc28&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fe9ee9c14359c41db539bd34d09abb26b8be0dd4b21e0483561ce5e0cedaf0cc:e66f9cc0101b4d5bdfc6a2d166cbe94fde16cfaff82f3d14869d89b902645a36&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 138.03389196161973}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0d2349742964b33e254ed89934595ad7bfec9b16442898b875ec15a126f5bb59:a0a93b5e91e74886a137ccd81990b2376b635a7646f889deb101133c1574e79d&#x27;, &#x27;aib_bronze.equity_ohlcv:16e4e5307ff609dc470ff65ee9cbeed0c66f962e6908804d313f78fd7a47cc36:e10ce63921f7c6dc7b018b429e91a88d40dd6609008939c69467d25743cce6f8&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:55bfc8cf9318e6dc2d225658399ad0854759820a67c83f2f062f48e067783373:7a2a403bc9e25f69779375764ad57bec7adaf693ea994bb60a860308c8b0644f&#x27;, &#x27;aib_bronze.equity_ohlcv:8b4f2a44dc00312c7379cb5c0e8341d2cf262218a2e688c608d7aafcb485993f:b9ade2d5cb8f66f905acf2ea755240ed3c4eae2799a375f897f089641689f388&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.47357939126029}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.57%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.5666045514115758, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.5666045514115758, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;facc800b482fe2acc6379f179281d7ccc13d2a7673c3dafe28f042c3ab487266&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1948dcd4b16b82d542cccd2133c525e6b2a2f06cecee28a871eb36a6962c4bf1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c642705b5d1db6aeac74607dd2553858e4aaa3618152d665346d2323e529d1e0:42068938a6a7697d27311d20f23ceb428d269b92b539a4fcf849e889b583a7b6&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d63acb12b433e34b77e49c27ec45fc0ccab3ada75310a1b3f511310a919b7dc:a332582edfdbd1a1bc1e00e672675cb0a8759ddeb75c6f9a6bf3215f1e9d2d1a&#x27;, 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&#x27;aib_bronze.equity_ohlcv:d1eeac69cd337eb01bf49d684f1fbeca5a6e1f6267ef129f97e1c239c158f71e:9319b5d6740543aac9fc8ed98e8e82e4aea1c41dec390b8cd7239240d595c136&#x27;, &#x27;aib_bronze.equity_ohlcv:e541ccb4df439647ad29ea7846f4ac58b43dca46062d6cdeac329626e979ffba:2b3da695abca620af1a6f04cf2c2b8d9787d82b29a0bba69123bc8412eef61bc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.57288001495108}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Down 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.6065412616578576, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.6065412616578576, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fcfcc46a46c0460cf29d9496eb1b9bdc01bde5cf086070519f758ca02f3d95ff&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;90c9f83b9861af8b4f3a13415cdfc95b11edcfe9a16abb5f02ecaa352b7e5b5d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d05eaba710d192dc0d2f6127e08f1a2ca58e01d6f0560f833b4f6f64600fb8b9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d3879ae1e003939064a817be6b84178a8abd04743476f50bbd3f09bb397ac844&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:37c44e0f7eabd38cd465c6e0cecac4693580995dec25f11e48111ba394591a6f:1d2203ca3895b8554a345ef6d68eee4d67106b62768d1bf49018efdf5c98412f&#x27;, &#x27;aib_bronze.equity_ohlcv:4bb58dec02e88cce607f8fd171ec96e67202c67df0711e569c4031350133308d:083138b4c4ea35b1c4afc3ee387e423dd912205a379e983f73453bd06aea7a0a&#x27;, &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.70597794266885}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Up 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.613830513097759, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 2.613830513097759, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fcfcc46a46c0460cf29d9496eb1b9bdc01bde5cf086070519f758ca02f3d95ff&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;2a84b3630e0be3e19d892d0f78aa6dd01f62d94c2cfd6c13e182fd7198ca61f2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;82cde039748481d71783ee6bd804097b4de0a6f617dc22d526476f94d286dde0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1dd9e5fa061d716674c59d64a994e4ff60a6e490f2bab42c25286be7e6302c5e&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 14:17:35.067000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1f77158848abe4961940d3391e5e6be50b0099ce9f4b7b71ff06468819c7966d:3859e747279a40c262bb7f825a74fe53d9c6355796c3083acd9d09df18b1c917&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ec95f08eaf4c30a267d1c927d8a6b9829881e74e28a21f3b9536a6dd2581dd6f:b5b3b76cd6fbfb00a74e9552a901ffbe6f757e8113d012c7ef47043c702dad95&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1f77158848abe4961940d3391e5e6be50b0099ce9f4b7b71ff06468819c7966d:3859e747279a40c262bb7f825a74fe53d9c6355796c3083acd9d09df18b1c917&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;aib_bronze.equity_ohlcv:ec95f08eaf4c30a267d1c927d8a6b9829881e74e28a21f3b9536a6dd2581dd6f:b5b3b76cd6fbfb00a74e9552a901ffbe6f757e8113d012c7ef47043c702dad95&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.16024885917273}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Down 5.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.0326322216175505, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -5.0326322216175505, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:19db7d8252e0c8c02fc456a9b384638ab7985cfedfad8e58530701368bc9b751:02494f9261db33647d374226fb65aa106233f6ad806e5ff081479287aab48136&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;aib_bronze.equity_ohlcv:fd9921220d98467bb67ade44abedca0d30446e9ab5301f794de1ad876849f203:cb8c581fb4d7dc76d5b74996719fe58cef7ddd66b5455e5e0343560538d7aca8&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 88.58570201713404}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Front VIX at 0.83× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.835.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;3076001bb7a248bbdc073b75a7c57b69eb7f63d57342adf7a0633bf92c372cc8&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fce23049d1325a16a23cc455a2dfca20efbaad4bb7810a24109408cfb687444e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 557, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5f53d3a2aace72a6f618b83d16eba9fa83461e8e5d6e9a8f855abf759edf253b&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;23b9479888c7408481886daa921106fda5f3b289be76182489d6cc138e0f18a9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d50516035f5ff93d34a85ab2b821aa0fce4e38633d46f49f9fb933d5c5a5a11a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;30ef2691da8a707bb33c657a16964994ccae6bbc0e51efbbb7e4934a63cb672c&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 03:53:21.798000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bf3cfffca4b2ed1c82122ffc4da8103a72c60919f38b56bd4b29aa7d1aa866fd:f6636e7cfe8b474ca8ccdfd8f8d5ba34008b530488d90af6522053e518d8e157&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4dd824620c77507c1f9e91091a26a05ddea4ac67062db31de16dd1994ee23ccf:30f35e077fdc5ae704c9ae7e6f55085bf86bd517da8e712277c91ad5d637cec3&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0b1e97ed2e158d967815500f8c79bd9ea35bdcd4a426c81a7ab3314acfea8efe:2de0c826f13839f0f4966489da72fa69e03a612f7562de24461a0d9a7e4458ab&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2a397798f45918dc1c1d6784d5d8c16e00c8de454b8b31b63c56da01afda8279:ccff2cf0bb17b77c9dd2839eafe62afc8e7e372bb20f751ccf3cb0b54eaf6172&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0b1e97ed2e158d967815500f8c79bd9ea35bdcd4a426c81a7ab3314acfea8efe:2de0c826f13839f0f4966489da72fa69e03a612f7562de24461a0d9a7e4458ab&#x27;, &#x27;aib_bronze.equity_ohlcv:2a397798f45918dc1c1d6784d5d8c16e00c8de454b8b31b63c56da01afda8279:ccff2cf0bb17b77c9dd2839eafe62afc8e7e372bb20f751ccf3cb0b54eaf6172&#x27;, &#x27;aib_bronze.equity_ohlcv:4dd824620c77507c1f9e91091a26a05ddea4ac67062db31de16dd1994ee23ccf:30f35e077fdc5ae704c9ae7e6f55085bf86bd517da8e712277c91ad5d637cec3&#x27;, &#x27;aib_bronze.equity_ohlcv:bf3cfffca4b2ed1c82122ffc4da8103a72c60919f38b56bd4b29aa7d1aa866fd:f6636e7cfe8b474ca8ccdfd8f8d5ba34008b530488d90af6522053e518d8e157&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8351153629713}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-12 03:56:09+00:00</li>\n<li>interpretation: Down 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.66%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.6640557608829756, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.6640557608829756, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;78c3b17b426a41afc1b229437fbf02ef52b0e2f1c5d7de8d09b9950cddca5698&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1ecaf80deafe2cb21d66dbca01857429e1403844785c7aafb369a970f8c5384f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4f63cd4b191be16bc25f9468f6d434c40aba7856c36fcc626e2ef60ab8770ae2&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;40d69469a3ec5be97edba6d1e3db75bb64e4b787cf9dd72cf5aaac1196ae84e5&#x27;, &#x27;history_end&#x27;: 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&#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ce19cb5a640927e97bf267d26aee9344f3bd634fbfd268f245f7f0e05ea13f62&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;bf24cb5184933a87bf81429841f38eb478014ca51baac1e9a655cda74f7634c8&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0e5657c944468163e990e9ce9f44b3f4046c5d3d93e1ff1349192abe9082f1a3&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-12&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;82d1e986dab9e128f59d800f3f9fc07cef8a881920d366142125c796576791bc&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1ceeb6fa9dd296ab71b5357adcb7e312e63b49d38da4dd3aa8755b35e55a9c74:00710da351fcb770f67401f3e75a332ea5f8964d03bfbdb7501ba01d4a9eb813&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:cedcbe533c23ca9b2ae1b79fd53437277615256d0ea8dc130ed7132093dcedd8:f23c1c416dcbb5884184ee984b3e4f989516c5c748cce166e34e660cff0a9aee&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e4ed76851dd023f86a2a864a01f219b719953eae8806a23b5979e4d21aa16f55:afffc34e1962dceec99f2387c9fd2af4a86f88f7e899159dbfc91a3c3f1b1882&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d1eeac69cd337eb01bf49d684f1fbeca5a6e1f6267ef129f97e1c239c158f71e:9319b5d6740543aac9fc8ed98e8e82e4aea1c41dec390b8cd7239240d595c136&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:13d5ced098f7225b413cb1324616f0e6f7797a5bcf9a7cbdbbdfdbbd5333d4cb:08caefe1ba4739cc8bdb08ea3c8d81b496a8ea85d07d4b3dcbcb920779b6a473&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:0d63acb12b433e34b77e49c27ec45fc0ccab3ada75310a1b3f511310a919b7dc:a332582edfdbd1a1bc1e00e672675cb0a8759ddeb75c6f9a6bf3215f1e9d2d1a&#x27;, &#x27;aib_bronze.equity_ohlcv:13d5ced098f7225b413cb1324616f0e6f7797a5bcf9a7cbdbbdfdbbd5333d4cb:08caefe1ba4739cc8bdb08ea3c8d81b496a8ea85d07d4b3dcbcb920779b6a473&#x27;, &#x27;aib_bronze.equity_ohlcv:18268eb063878eddf05febf367cecc9993a15019ba7aee4b87cb8dbff021d030:90d28016fcee88b1f18c88c0d6ec1d21dae27fc5b166c0a03b8cc44a7a6a206c&#x27;, &#x27;aib_bronze.equity_ohlcv:1ceeb6fa9dd296ab71b5357adcb7e312e63b49d38da4dd3aa8755b35e55a9c74:00710da351fcb770f67401f3e75a332ea5f8964d03bfbdb7501ba01d4a9eb813&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:b18fb9be30a3e69c0174f818f24aaa2ce570fc72296f110258c4e325dfe0751c:d70100c19760ceab742246cb2c04b4d9ca39bf90bf1340f891691e92e3381456&#x27;, &#x27;aib_bronze.equity_ohlcv:cedcbe533c23ca9b2ae1b79fd53437277615256d0ea8dc130ed7132093dcedd8:f23c1c416dcbb5884184ee984b3e4f989516c5c748cce166e34e660cff0a9aee&#x27;, &#x27;aib_bronze.equity_ohlcv:d1eeac69cd337eb01bf49d684f1fbeca5a6e1f6267ef129f97e1c239c158f71e:9319b5d6740543aac9fc8ed98e8e82e4aea1c41dec390b8cd7239240d595c136&#x27;, &#x27;aib_bronze.equity_ohlcv:e4ed76851dd023f86a2a864a01f219b719953eae8806a23b5979e4d21aa16f55:afffc34e1962dceec99f2387c9fd2af4a86f88f7e899159dbfc91a3c3f1b1882&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.51188064833855}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-11</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-11</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-11 / 2026-10-11 18:00:37+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,094B (conditional on an IPO), -0.45% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $3,991.; Probability-weighted bucket midpoint: $1,094B.; Seven-day implied-cap change: -0.45%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.44978398532282693, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0305, &#x27;full_set_prob_sum&#x27;: 0.981, &#x27;implied_cap_change_7d_pct&#x27;: -0.44978398532282693, &#x27;implied_cap_usd_b&#x27;: 1094.2622950819673, &#x27;ipo_by_2026_prob&#x27;: 0.0495, &#x27;no_ipo_by_2026_prob&#x27;: 0.9505, &#x27;volume_24h_total&#x27;: 3991.06}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-11</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-11</td><td class=\"num\">129,564</td><td class=\"num\">24</td><td>—</td><td class=\"num\">33.44</td></tr>\n<tr><td>CISO</td><td>2026-10-11</td><td class=\"num\">600,314</td><td class=\"num\">24</td><td>—</td><td class=\"num\">8.315</td></tr>\n<tr><td>ERCO</td><td>2026-10-11</td><td class=\"num\">1,413,487</td><td class=\"num\">24</td><td>—</td><td class=\"num\">8.191</td></tr>\n<tr><td>PJM</td><td>2026-10-11</td><td class=\"num\">1,962,889</td><td class=\"num\">24</td><td>—</td><td class=\"num\">6.828</td></tr>\n<tr><td>SOCO</td><td>2026-10-11</td><td class=\"num\">538,218</td><td class=\"num\">24</td><td>—</td><td class=\"num\">3.933</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">43.09</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">36.6</td><td class=\"num\">1</td><td class=\"num\">-6.495</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">42.35</td><td class=\"num\">0</td><td class=\"num\">-0.7384</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">56.74</td><td class=\"num\">0</td><td class=\"num\">10.92</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">45.81</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.79</li>\n<li>as of: 2026-10-11</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.0414</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-09-01</td><td class=\"num\">511,857,399,000</td><td class=\"num\">54.65</td><td class=\"num\">-0.5726</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>407 benchmarked model identities; 242 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 8,535,410,483,535</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 3,202,810,273,785</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,614,051,858,862</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">4,920,847,615,321</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 2,835,418,718,284</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,831,718,108,903</td></tr>\n<tr><td>Claude Fable 5 (Max, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 346 eligible configurations.</p>\n<p>Usage window: 2026-09-12 → 2026-10-11. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-12 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;19f95e5f07d1bc9e890898f0e29ba91c65d623b7af9e8a41d6068cf2c230e93b&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;0f7216eefe0f792842c018b37edbfa0bab7e8cce34c3d1cca72d1bcd0964c2c1&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;457164f8145e84bd353ba8e42e3262eec6a6661e4d233a7e4b4c6232697a205f&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-12 03:55:00&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-12 03:55:04&quot;, &quot;record_count&quot;: 1824, &quot;records_hash&quot;: &quot;38f718f42e4b26ac4904813b602a26ddefdc0aaf152be19a9b18cd98840ba44d&quot;, &quot;snapshot_id&quot;: &quot;f760d471a6ab0d6d945f3956158d918e6722a9890b71b8137bd4ca6b716f25d1&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;ae7d95a6ce83583e728d6940bba2310b87c04e33e24c3981aab9de07eea19fba&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;cc50190e2c12b3fd72a83239aef90e0f756273e68e27ae1919a610079549937d&quot;, &quot;2425044775f85748f9baf9da9136c1a7acadf2f87be61be83fe3b11cc0dbf82c&quot;, &quot;67856e8e6a3dd758ede19ac54100a8216c90f42b13f918f372b0d62427c6dc76&quot;, &quot;27acaa4d8a72b7ebca30ab876438c76e3d661547152972dd41ad1bc10fad84cf&quot;, &quot;bf22eeb9f5297c262dbc22a099ff3def26b8046c59f094a0b79faa51e3d1a2bb&quot;, &quot;1d20bc486dd73bcc472acd3fccadf2493455cb3a927ff31cc5f4f4e5b8964e27&quot;, &quot;f0eeea25760efc8a9095d05a46e7d82ee38397e395776f859f8978af64439756&quot;, &quot;5726bbc4f7c4ae8914b32eb3c528436b3e5fc5a67ebcdb515ad2ce35d2070d02&quot;, &quot;484d78f04ce9726b7b005e966fa315b07dc46dd057748fb0803c3119bd5509ee&quot;, &quot;9104830b624511b992855a7acda19adeb99ff8adb85eef6de5851b88a8289994&quot;, &quot;11e55ae527237ea7d3a03a7ed3a90da2564f65d1f6731159ae5035df1bcc59f2&quot;, &quot;4cbd29d4cc30bfcf100a3c0dbd7ba077d33f554c41afd3090b03f62dbbb3d515&quot;, &quot;57c001428a8423d92501ad4700a5ed90c45c0e77ba22144d873e4f445277be4d&quot;, &quot;793190f64dc2b2060e82ffb67a65cd244e871064d714a9102e9fe38eaa31ee2f&quot;, &quot;3d74d3b901ff780c8b18eeb94fd62bfdca61d3033c76fcf6ca5f138f0ffdf717&quot;, &quot;0df91a498bb7fed347c17ecf2ac6c1d52b92a150be53e81fbcc7ae4177d8a486&quot;, &quot;bc901df36ab9cb9fe44247c4fbfa88ba134fbebd58c4edf00cbd964c1e903d89&quot;, &quot;73b29436b835cf84938966d5c66005013ae7e1e23e0e6d92fe27a9da14881aa3&quot;, &quot;6e938ade6e5812310e845aa0608d081e92011064d72fcc62d505d8fe79e9ca26&quot;, &quot;1fc389e8c6e21d0ca206fa908f5ccf1bf17b76794145d66ff960980269c20c7b&quot;, &quot;cb601a8738a12796d3757fda0feac60d4345e3e5488244ae1df2f7ca9cde20ce&quot;, &quot;457a5b57c8edae889a9981043421b4ebdaf9cc53cc87dc2fc1938013826c6a17&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-12 03:55:09&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-12 03:55:10&quot;, &quot;record_count&quot;: 746, &quot;records_hash&quot;: &quot;ddac72a758e8c6e8f2f33aafdec2f6cb2df838d9998e2fc05b89dc00cec21e8e&quot;, &quot;snapshot_id&quot;: &quot;4a0eacf76e42c0e6a4c45bfdb342da64ffa8632f9593d3f44ca3fe2c6d2e262b&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;5ef369cff5c14f20326e5ffffa6236d395a66b7ee5dcbfce83d19e1bc824d7d2&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;1c1a852b4c67497f8a7bc3a2528212415e29a0892e87646e85cc4e2d2e828ebd&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-12 03:54:56&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-12 03:55:03&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;d0d36f1c9732219900218888885f4dd4e304d0f11f4f2d8adb6cd2d45ed78040&quot;, &quot;snapshot_id&quot;: &quot;e886797b976af70553a638c25b325ea4ba1b659ef97de95b618ac94fd74c1e63&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;c1af734ae3eaa9da822117ca99893b2b37b4ab028426eefad7a5233c0d30f73e&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;b0c5616f069b92d8d881f0e2fc8433cfc8440ea033be1e8bdf7e6d315a9b7f79&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-12 03:54:56&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-12 03:55:03&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;d42376768e2ff5247ca06f1ddac96192e2e0b91d47b756f5d4201577cee5bf6b&quot;, &quot;snapshot_id&quot;: &quot;0e859a8e2f8851d613fa439f72487614a7ba3ff47fe58d6dd72549085e96beef&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-12 20:56:37</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">0</td><td>2026-10-12 03:56:45</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-12 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-12 03:54:53</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-12 03:54:53</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-12 03:55:03</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-10-12 23:20:48</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-12 23:11:14</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-12 03:56:45</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">138613</td><td>2026-10-12 03:54:53</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">141</td><td>2026-10-12 21:33:01</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-12 23:55:53</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791849359</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">458</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">653</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1824</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">746</td><td>2026-10-12 03:54:54</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-12 03:55:05</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-12 05:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-12 03:54:53</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-13T05:10:09Z",
      "id": "urn:prexel:issue:77b988a6-2a93-5ff0-b400-fef07d7fec36",
      "summary": "Prexel daily — period ending 2026-10-12. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 42 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-12-daily-9c1acf10c141.html"
    },
    {
      "_prexel": {
        "content_hash": "62935129c7166824b961d157e7643464e564967890d99fbc67e5dd7423676565",
        "context_hash": "c46e93866f6eb915be76ae3fdf7631221dd13d56eb493b953af37191861c61af",
        "kind": "daily",
        "period_end": "2026-10-11"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 41 (daily)</h1>\n<p>Period: 2026-10-11 → 2026-10-11</p>\n<p>Context hash: <code>c46e93866f6eb915be76ae3fdf7631221dd13d56eb493b953af37191861c61af</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Implied OpenAI valuation: ▲ Bullish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>GPU marketplace depth: ▼ Bearish — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Effective inference price: ▲ Bullish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-10-11T03:55:16.448282+00:00.</li>\n<li>Effective inference price: ▲ Bullish — inference unit economics for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-10-11T05:41:54.551301+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-10-11T05:41:54.551301+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 14 bullish, 11 bearish, 7 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-10 20:10:54+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.765220706529025; b200_h100_ratio_change_14d_pct=0.11835096269264841; b200_offered_usd_hr=6.875260416666666; band_measured_pct=11.835096269264842; band_pct=5.0; h100_spot_usd_hr=2.4863333333333335</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.765220706529025, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.11835096269264841, &#x27;b200_offered_usd_hr&#x27;: 6.875260416666666, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.835096269264842, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 11.835096269264842, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.4863333333333335}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-10 20:10:54+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▼ Bearish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-10 20:10:54+00:00</li>\n<li>interpretation: Listed H100 supply is growing while offered prices fall — lessor pricing power is weakening.</li>\n<li>evidence: h100_depth_change_14d_pct=0.1691176798516913; h100_depth_smoothed_3d=26.5; h100_dispersion_smoothed_3d=2.699650287628174; h100_price_change_14d_pct=-0.050296379192458475</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.1691176798516913, &#x27;h100_depth_smoothed_3d&#x27;: 26.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.699650287628174, &#x27;h100_price_change_14d_pct&#x27;: -0.050296379192458475}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-10</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-10</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-10 20:10:54+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=-7.1943034099737195; band_pct=8.0; h100_spot_usd_hr=2.4863333333333335; spot_trend_30d_pct=-0.0719430340997372</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.1943034099737195, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -7.1943034099737195, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.4863333333333335, &#x27;spot_trend_30d_pct&#x27;: -0.0719430340997372}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-11 06:04:58+00:00</li>\n<li>interpretation: Up 11.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 11.90%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.895548647847342, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 11.895548647847342, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3012194133, &#x27;total_tokens&#x27;: 221126136972684}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-11 06:04:59+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.01pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.01064850048567223, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.70794102429873, &#x27;top10_share_change_14d_pp&#x27;: 0.01064850048567223}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-11 06:04:59+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 7 cuts, 15 raises.; Fixed-basket price at prior-day token weights: $0.694/Mtok.; Seven-day like-for-like change: -9.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -9.06905911522271, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 342, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6940874093563996, &#x27;like_for_like_change_7d_pct&#x27;: -9.06905911522271, &#x27;price_cut_model_count&#x27;: 7, &#x27;price_raise_model_count&#x27;: 15}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▲ Bullish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-11 06:04:59+00:00</li>\n<li>interpretation: The effective inference price is rising through its band — per-token seller economics are firming.</li>\n<li>evidence: Seven-day effective-price change: +18.55%.; Token-weighted effective price: $0.705/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 18.55327698712994, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 18.55327698712994, &#x27;effective_price_usd_mtok&#x27;: 0.7053549979377824, &#x27;matched_model_count&#x27;: 342, &#x27;total_standard_tokens&#x27;: 148713125052251, &#x27;unmatched_token_share&#x27;: 2.8382735296390105}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-10 14:16:11+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +153.8%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 153.78151260504205, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 153.78151260504205, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-11 06:04:59+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +2.21pp.; Open-weights share of routed standard tokens: 68.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 2.209228889167065, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 6.683819908156018, &#x27;chinese_lab_token_share&#x27;: 70.2852619930112, &#x27;matched_model_count&#x27;: 342, &#x27;openweights_share_change_14d_pp&#x27;: 2.209228889167065, &#x27;openweights_token_share&#x27;: 67.99338329256028}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-10</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-11 06:05:09+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $60.25/MWh vs prior 14-day $44.53/MWh (+35.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 35.303937803510465, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 60.251329761904756, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 44.5303593820028, &#x27;caiso_da_trend_pct&#x27;: 35.303937803510465}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-11 06:05:09+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 20.07 MMBtu/MWh vs prior 14-day 14.61 (+37.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 37.39867605440597, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 20.07439145815373, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.610323792497711, &#x27;caiso_heat_rate_trend_pct&#x27;: 37.39867605440597, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-11 06:05:09+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY -0.85% vs control mean +16.83% (gap -17.68pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -17.681087267233778, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 35.45631234341211, &#x27;dc_load_premium_pp&#x27;: -17.681087267233778, &#x27;erco_load_yoy_7d_pct&#x27;: -1.7883982362540904, &#x27;pjm_load_yoy_7d_pct&#x27;: -0.8471302136547667}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-11 06:05:03+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +5.27% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.27022079914687, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 5.27022079914687, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-10</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Down 17.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -17.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -17.362118273655412, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -17.362118273655412, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;fff53db9ff7abe7365c9af57aa45756172ffb0060802349fb651d547d9d58716&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-10</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-10</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Down 4.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.186694309699979, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.186694309699979, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c599d653bae612139c3592c6ed6985bc0440ca9db1f603a6ee580f9f7f957e7d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6ac7750a248161c0a15d4d96e2ac1c5d6cceece35a423560a6fb70b24e4d5810&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2f05e500f0761f23bedadded036075b7a97cac7b2b83b2a570c0396fa33d3223&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;332c189f44f712634b85c977b882fc5794f64a6083ff6efec840d1f55e7f36e0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;bae2d062368f15c861ecd3d305ea07c3126f0350abbe5721f74116964255e36e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a84e71450b88e57f3812a83dbbe43a468dfc4cc0e49e7c3a10c40f519124fab1&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;18e662568f98bda2772d0b50638cba97a32a2d1f4ac58c416c2b74afb324c561&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;ec4cabdcc6c4bcdb538d69f2696ef7bf94e4e2bf9863d1c6c362ae0cd73fe835&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9c08a00091ff84e4d00b16c1f93f154df02f43d46a4ddac4a4fc82cc1b0d060c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b4869c5d77dd7b052f88daea5c306755b5dcf3f766bae80ca943524a4b4a5626&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:920b0864f10db72f85eaf36747c27c8c0e1e1cdf29c2ae37be77014da388b21c:5188f14e7bdbb62d4f82376fa96ea6021aa37df2da2baf0aeeb3cd535411b8ab&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf36dbd991a2a0057f41555c930b8213e25bbaa57a8ae74f32e7e5acb82f02db:8b4c13bacf5a764c4390e382161d0858041c6a9c0b56658e462a01debca1fdc3&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0419528789f78ee4e932b0b7dc5937af94b49776ae4fd6acbd5ee46de1347869:4da67ca70be5b3df4a961bff411cf6fd0b275a0a64fc3fa43721b90df44c7d98&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:be4dc01bb45d07d6e5d974b11554e2bdca95daf9d6ec392564d821048969d34b:03bb8ef2bfdd72c611c03163a833191c971b12dc8af0a9e09c98054d012fe0cd&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b137275ba99ee1962604804b5b28ac44eb298a222d64ec194117c4f24a33077:e73690d892bdcdeae4fa0e303dfedd54b501500dd0d70cb580414353a476cefd&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:cf36dbd991a2a0057f41555c930b8213e25bbaa57a8ae74f32e7e5acb82f02db:8b4c13bacf5a764c4390e382161d0858041c6a9c0b56658e462a01debca1fdc3&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.15555980190781}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Up 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.0963457920644792, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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06:06:10+00:00</li>\n<li>interpretation: Down 14.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.02909029676569, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.02909029676569, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;12ee85c85408fe83ea6f823f555c02f8ea54a0f7c30f6f517070e076be23bae5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;81f5c692ab9d5a091be807491b6c8abb30522baa21ef7e60f58571b1f48407be&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8fb05bc04de697994def72a0fef14e41c470332bef829841c22adc57ca3c21f9&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;d33b4970da2d6bbc7fdb22b40f41802370cd820b89d6a4abac1f3a3d0e725733&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;3cce2c25792a86eda969d08c0edf22f94a4be7e1f551465492e17506731d612c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-11&#x27;, &#x27;row_count&#x27;: 386, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7a5d25d8647768dfc2f5b2b2cdcbfb7e2849d5ab1fc2c5431e46bde9f4b387c5&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;18e662568f98bda2772d0b50638cba97a32a2d1f4ac58c416c2b74afb324c561&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;4d125def1460470097bdbbda8bd965812801dc8d87bea480bafc1782991634a9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c6f5be1d12aa6b362e07bdaa5690239cd9082e7bb33cc427172eb8db47afa3f8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f3b0b8a5be8b667b192f0b14e966840f30c9dd9f8d5bc138c70df3dddd470c2a&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;58b2f3e1106999c11ee9aef4e2fff8251b6bbc42b4206611737c69c8d5d427be&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;12716a261def2887e5fe73a405cd946d3b9beac3719276d2a71e3e155823dec9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-11&#x27;, &#x27;row_count&#x27;: 494, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;0fbda45ac3f34d04fe4324e21eafa7b4611f97e7ca8c346c15591486549d67b1&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9cbbcc654d4d260617705b1569c31d29f42973686e1a58eae679f0316a5f43bc:5cbaacd120a7ba8a86f8bc039d48d50b2fa5d6c8d665f52eebdb2437a8cbea32&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e055c639afd4188c9f28bb7c51b75ab51aa75dc59f9434ad502cd8ff0b621fef:16adc7182164b5a98d30412abd8429626fe0a1c9b9159253b05dd483df325cb1&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bec97d9c1e3b42cffd5c581e72862a2b76a271e96916694e03968a87899b8ade:039915aca10f2955e2e36d5209d771ddde014c4c2e66a75bdc0c727fe2b65dc6&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:8fa90a81c0dd9e19a64d86ab47a52ef55a6a1fa3ccd5af26e2369f7018af3ad3&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Up 5.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.503032286824627, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.0102014935634136, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.0102014935634136, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fe9ee9c14359c41db539bd34d09abb26b8be0dd4b21e0483561ce5e0cedaf0cc:e66f9cc0101b4d5bdfc6a2d166cbe94fde16cfaff82f3d14869d89b902645a36&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 138.03389196161973}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0d2349742964b33e254ed89934595ad7bfec9b16442898b875ec15a126f5bb59:a0a93b5e91e74886a137ccd81990b2376b635a7646f889deb101133c1574e79d&#x27;, &#x27;aib_bronze.equity_ohlcv:16e4e5307ff609dc470ff65ee9cbeed0c66f962e6908804d313f78fd7a47cc36:e10ce63921f7c6dc7b018b429e91a88d40dd6609008939c69467d25743cce6f8&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:55bfc8cf9318e6dc2d225658399ad0854759820a67c83f2f062f48e067783373:7a2a403bc9e25f69779375764ad57bec7adaf693ea994bb60a860308c8b0644f&#x27;, &#x27;aib_bronze.equity_ohlcv:8b4f2a44dc00312c7379cb5c0e8341d2cf262218a2e688c608d7aafcb485993f:b9ade2d5cb8f66f905acf2ea755240ed3c4eae2799a375f897f089641689f388&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.47357939126029}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.57%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.5666045514115758, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.5666045514115758, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;facc800b482fe2acc6379f179281d7ccc13d2a7673c3dafe28f042c3ab487266&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1948dcd4b16b82d542cccd2133c525e6b2a2f06cecee28a871eb36a6962c4bf1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c642705b5d1db6aeac74607dd2553858e4aaa3618152d665346d2323e529d1e0:42068938a6a7697d27311d20f23ceb428d269b92b539a4fcf849e889b583a7b6&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d63acb12b433e34b77e49c27ec45fc0ccab3ada75310a1b3f511310a919b7dc:a332582edfdbd1a1bc1e00e672675cb0a8759ddeb75c6f9a6bf3215f1e9d2d1a&#x27;, 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&#x27;aib_bronze.equity_ohlcv:d1eeac69cd337eb01bf49d684f1fbeca5a6e1f6267ef129f97e1c239c158f71e:9319b5d6740543aac9fc8ed98e8e82e4aea1c41dec390b8cd7239240d595c136&#x27;, &#x27;aib_bronze.equity_ohlcv:e541ccb4df439647ad29ea7846f4ac58b43dca46062d6cdeac329626e979ffba:2b3da695abca620af1a6f04cf2c2b8d9787d82b29a0bba69123bc8412eef61bc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.57288001495108}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Down 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.6065412616578576, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.6065412616578576, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;18e662568f98bda2772d0b50638cba97a32a2d1f4ac58c416c2b74afb324c561&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;90c9f83b9861af8b4f3a13415cdfc95b11edcfe9a16abb5f02ecaa352b7e5b5d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d05eaba710d192dc0d2f6127e08f1a2ca58e01d6f0560f833b4f6f64600fb8b9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e91a7fbc7e8d47b132904fc680b64cc2400d6c08dafd2a1a18ef60fa6d5e1448&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:37c44e0f7eabd38cd465c6e0cecac4693580995dec25f11e48111ba394591a6f:1d2203ca3895b8554a345ef6d68eee4d67106b62768d1bf49018efdf5c98412f&#x27;, &#x27;aib_bronze.equity_ohlcv:4bb58dec02e88cce607f8fd171ec96e67202c67df0711e569c4031350133308d:083138b4c4ea35b1c4afc3ee387e423dd912205a379e983f73453bd06aea7a0a&#x27;, &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.70597794266885}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Up 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.613830513097759, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 2.613830513097759, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;18e662568f98bda2772d0b50638cba97a32a2d1f4ac58c416c2b74afb324c561&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;2a84b3630e0be3e19d892d0f78aa6dd01f62d94c2cfd6c13e182fd7198ca61f2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;82cde039748481d71783ee6bd804097b4de0a6f617dc22d526476f94d286dde0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9e9954706d98a461cc52b79002dba18f690108c2185bd5dc65b05aa32a527bac&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 14:17:35.067000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1f77158848abe4961940d3391e5e6be50b0099ce9f4b7b71ff06468819c7966d:3859e747279a40c262bb7f825a74fe53d9c6355796c3083acd9d09df18b1c917&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ec95f08eaf4c30a267d1c927d8a6b9829881e74e28a21f3b9536a6dd2581dd6f:b5b3b76cd6fbfb00a74e9552a901ffbe6f757e8113d012c7ef47043c702dad95&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1f77158848abe4961940d3391e5e6be50b0099ce9f4b7b71ff06468819c7966d:3859e747279a40c262bb7f825a74fe53d9c6355796c3083acd9d09df18b1c917&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;aib_bronze.equity_ohlcv:ec95f08eaf4c30a267d1c927d8a6b9829881e74e28a21f3b9536a6dd2581dd6f:b5b3b76cd6fbfb00a74e9552a901ffbe6f757e8113d012c7ef47043c702dad95&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.16024885917273}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Down 5.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.0326322216175505, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -5.0326322216175505, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:19db7d8252e0c8c02fc456a9b384638ab7985cfedfad8e58530701368bc9b751:02494f9261db33647d374226fb65aa106233f6ad806e5ff081479287aab48136&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;aib_bronze.equity_ohlcv:fd9921220d98467bb67ade44abedca0d30446e9ab5301f794de1ad876849f203:cb8c581fb4d7dc76d5b74996719fe58cef7ddd66b5455e5e0343560538d7aca8&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 88.58570201713404}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Front VIX at 0.83× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.835.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;3076001bb7a248bbdc073b75a7c57b69eb7f63d57342adf7a0633bf92c372cc8&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fce23049d1325a16a23cc455a2dfca20efbaad4bb7810a24109408cfb687444e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 557, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bfc4111674070b4e5d1ca35a7fce8b59d879da4b000bd8157b677043f4607ae0&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;23b9479888c7408481886daa921106fda5f3b289be76182489d6cc138e0f18a9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d50516035f5ff93d34a85ab2b821aa0fce4e38633d46f49f9fb933d5c5a5a11a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5def5bc43efee1aeb9f5705b12191dc355a5557100c706faec8c7dfa8ca6a111&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 03:53:21.798000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bf3cfffca4b2ed1c82122ffc4da8103a72c60919f38b56bd4b29aa7d1aa866fd:f6636e7cfe8b474ca8ccdfd8f8d5ba34008b530488d90af6522053e518d8e157&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4dd824620c77507c1f9e91091a26a05ddea4ac67062db31de16dd1994ee23ccf:30f35e077fdc5ae704c9ae7e6f55085bf86bd517da8e712277c91ad5d637cec3&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0b1e97ed2e158d967815500f8c79bd9ea35bdcd4a426c81a7ab3314acfea8efe:2de0c826f13839f0f4966489da72fa69e03a612f7562de24461a0d9a7e4458ab&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2a397798f45918dc1c1d6784d5d8c16e00c8de454b8b31b63c56da01afda8279:ccff2cf0bb17b77c9dd2839eafe62afc8e7e372bb20f751ccf3cb0b54eaf6172&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0b1e97ed2e158d967815500f8c79bd9ea35bdcd4a426c81a7ab3314acfea8efe:2de0c826f13839f0f4966489da72fa69e03a612f7562de24461a0d9a7e4458ab&#x27;, &#x27;aib_bronze.equity_ohlcv:2a397798f45918dc1c1d6784d5d8c16e00c8de454b8b31b63c56da01afda8279:ccff2cf0bb17b77c9dd2839eafe62afc8e7e372bb20f751ccf3cb0b54eaf6172&#x27;, &#x27;aib_bronze.equity_ohlcv:4dd824620c77507c1f9e91091a26a05ddea4ac67062db31de16dd1994ee23ccf:30f35e077fdc5ae704c9ae7e6f55085bf86bd517da8e712277c91ad5d637cec3&#x27;, &#x27;aib_bronze.equity_ohlcv:bf3cfffca4b2ed1c82122ffc4da8103a72c60919f38b56bd4b29aa7d1aa866fd:f6636e7cfe8b474ca8ccdfd8f8d5ba34008b530488d90af6522053e518d8e157&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8351153629713}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-11 06:06:10+00:00</li>\n<li>interpretation: Down 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.66%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.6640557608829756, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.6640557608829756, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;78c3b17b426a41afc1b229437fbf02ef52b0e2f1c5d7de8d09b9950cddca5698&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1ecaf80deafe2cb21d66dbca01857429e1403844785c7aafb369a970f8c5384f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-11&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5f7cdacf200c3ecf272d5a9f1589900f2a857e44ee59a63d2e21f45c031f3e3f&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;40d69469a3ec5be97edba6d1e3db75bb64e4b787cf9dd72cf5aaac1196ae84e5&#x27;, &#x27;history_end&#x27;: 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&#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-11 03:54:19.052000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1ceeb6fa9dd296ab71b5357adcb7e312e63b49d38da4dd3aa8755b35e55a9c74:00710da351fcb770f67401f3e75a332ea5f8964d03bfbdb7501ba01d4a9eb813&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:0d63acb12b433e34b77e49c27ec45fc0ccab3ada75310a1b3f511310a919b7dc:a332582edfdbd1a1bc1e00e672675cb0a8759ddeb75c6f9a6bf3215f1e9d2d1a&#x27;, &#x27;aib_bronze.equity_ohlcv:13d5ced098f7225b413cb1324616f0e6f7797a5bcf9a7cbdbbdfdbbd5333d4cb:08caefe1ba4739cc8bdb08ea3c8d81b496a8ea85d07d4b3dcbcb920779b6a473&#x27;, &#x27;aib_bronze.equity_ohlcv:18268eb063878eddf05febf367cecc9993a15019ba7aee4b87cb8dbff021d030:90d28016fcee88b1f18c88c0d6ec1d21dae27fc5b166c0a03b8cc44a7a6a206c&#x27;, &#x27;aib_bronze.equity_ohlcv:1ceeb6fa9dd296ab71b5357adcb7e312e63b49d38da4dd3aa8755b35e55a9c74:00710da351fcb770f67401f3e75a332ea5f8964d03bfbdb7501ba01d4a9eb813&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:b18fb9be30a3e69c0174f818f24aaa2ce570fc72296f110258c4e325dfe0751c:d70100c19760ceab742246cb2c04b4d9ca39bf90bf1340f891691e92e3381456&#x27;, &#x27;aib_bronze.equity_ohlcv:cedcbe533c23ca9b2ae1b79fd53437277615256d0ea8dc130ed7132093dcedd8:f23c1c416dcbb5884184ee984b3e4f989516c5c748cce166e34e660cff0a9aee&#x27;, &#x27;aib_bronze.equity_ohlcv:d1eeac69cd337eb01bf49d684f1fbeca5a6e1f6267ef129f97e1c239c158f71e:9319b5d6740543aac9fc8ed98e8e82e4aea1c41dec390b8cd7239240d595c136&#x27;, &#x27;aib_bronze.equity_ohlcv:e4ed76851dd023f86a2a864a01f219b719953eae8806a23b5979e4d21aa16f55:afffc34e1962dceec99f2387c9fd2af4a86f88f7e899159dbfc91a3c3f1b1882&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.51188064833855}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-10</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-10</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-10 / 2026-10-10 20:15:21+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,199B (conditional on an IPO), +27.49% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $1,829.; Probability-weighted bucket midpoint: $1,199B.; Seven-day implied-cap change: +27.49%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 27.494986676922252, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0295, &#x27;full_set_prob_sum&#x27;: 0.9804999999999999, &#x27;implied_cap_change_7d_pct&#x27;: 27.494986676922252, &#x27;implied_cap_usd_b&#x27;: 1199.1525423728815, &#x27;ipo_by_2026_prob&#x27;: 0.0425, &#x27;no_ipo_by_2026_prob&#x27;: 0.951, &#x27;volume_24h_total&#x27;: 1828.869246}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-10</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-10</td><td class=\"num\">145,691</td><td class=\"num\">24</td><td>—</td><td class=\"num\">38.59</td></tr>\n<tr><td>CISO</td><td>2026-10-10</td><td class=\"num\">691,681</td><td class=\"num\">24</td><td>—</td><td class=\"num\">15.41</td></tr>\n<tr><td>ERCO</td><td>2026-10-10</td><td class=\"num\">1,374,969</td><td class=\"num\">24</td><td>—</td><td class=\"num\">5.06</td></tr>\n<tr><td>PJM</td><td>2026-10-10</td><td class=\"num\">1,953,808</td><td class=\"num\">24</td><td>—</td><td class=\"num\">5.126</td></tr>\n<tr><td>SOCO</td><td>2026-10-10</td><td class=\"num\">523,669</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.955</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">42.76</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">44.37</td><td class=\"num\">0</td><td class=\"num\">1.615</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">42.83</td><td class=\"num\">0</td><td class=\"num\">0.06963</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">49.69</td><td class=\"num\">0</td><td class=\"num\">6.845</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">42.85</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.486</li>\n<li>as of: 2026-10-10</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.07194</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>407 benchmarked model identities; 242 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 7,845,432,119,837</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 2,672,347,438,099</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,602,439,716,592</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">4,969,508,548,362</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 2,571,110,187,497</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,874,442,991,269</td></tr>\n<tr><td>Claude Fable 5 (Max, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 346 eligible configurations.</p>\n<p>Usage window: 2026-09-11 → 2026-10-10. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-11 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;553be70ce13934c936ae2da79f74780f85e4f9dea8d644977bbef9f4cf238dae&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;579facac9c4f1d415689dc34542aee9a9adbcd0aac9f73b94160e87594c83982&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;0e2d60eb3d8666bd848abd5e19a357a7b64586c0450115f9ffb122d0c86b614c&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-11 03:53:01&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-11 03:53:08&quot;, &quot;record_count&quot;: 1820, &quot;records_hash&quot;: &quot;85fb3eca9f856132cffe7864930b3339dac88c295253ab783a2bca49f03aa3ef&quot;, &quot;snapshot_id&quot;: &quot;fb9cef3850d171eeef28f865bd799345aa208e100cd4a9137e7c56fe83a3366b&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;ae8b4b1274e279cc3c0f039af846b210d88dd25bf30ddcf1e209150c9984f57a&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;06659f5bbfb13c21d1f09036872bce66f506ab72299fac51d2e7ec71571a1287&quot;, &quot;e4bcba0ae0d2909c82f27abd5d26f8dfd4438cd18ba08a8809fe459fb94b1fc3&quot;, &quot;8f531d51ec19436f44502e61e8b4de5532fee97b78b33dea5e8170d6e45ed8f5&quot;, &quot;d5282eaff97627dd4b327d9d50782ce04a9baf97b23afea2030d5276f450ed4f&quot;, &quot;9ea9a03c158211acdfac190076e006ca662714cb1be62637c3b04a65252ebbc5&quot;, &quot;10067564f89b4b2bc996db2296a4804155a1379210708a30582ea3e742928a6a&quot;, &quot;b238ead7b4a9a73689a6e3896d507e2442ba0f4d2a01cb091535b9d100c7e1f0&quot;, &quot;e97b84f190c67bbbc12a3fa4cc6187933eba932f6b30b24476342e2c3359ba29&quot;, &quot;619f561b4165d741f1be1f53f2d7c2e7a403dcf5887a03bf070a40dfc91ac058&quot;, &quot;6d24efc24b56d339929aa714933b4e6c4879a36d15f181f6d7c20f8eefdff385&quot;, &quot;de72828de016cc4889ae9e5a22c3e09fef967ecd097406affbfd2de8b6afcbc8&quot;, &quot;ece4842cb55ebce9ccc7e96a6a79b2fc68d44785728ce89cf05136b193221095&quot;, &quot;9de805311a70bc4425f90e924195a879f58e19be5e9c1ee2c3b3cd9ae038bb01&quot;, &quot;13af75c43c831053b8847bdd50a369e963c924a9dab57534372080aafb93a08a&quot;, &quot;279a8a2a402fc294c144b0219731c294bcfc1dd764ae2d14aed595aed4f18831&quot;, &quot;1be1bc0156f3c47d15c5003f9c4ff84973777bb5a100d0bd64a48310c73dfa72&quot;, &quot;404d796e429d473f344d672196c58efbc4321260cade2a9bfdc6c66414ddd8a4&quot;, &quot;0f84eae3bded5138283ecdecc6a7ef0e35148e8889d8e471131bfa00ea85e555&quot;, &quot;33d17e898d6a0aa23ae69dea6f6d6d0c1a5c6a61ac1904d2276d2df5d5fe3d6f&quot;, &quot;aae7bca9e0c212cde868f4ab00582528e36febd97466e07d59345407ee7a956f&quot;, &quot;b12df703595c538a2532c4347a3d62f5015254b226b8323bdbe5fe860db721bf&quot;, &quot;0789a5fb6321f3ad653ee54b6116bab76e08e1f811e69c82f78d3d5928dbbfd2&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-11 06:05:07&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-11 06:05:09&quot;, &quot;record_count&quot;: 745, &quot;records_hash&quot;: &quot;1d04192728f6d730107cd1c25619ca4200b8120ab0b9afc422d031dd22428c3f&quot;, &quot;snapshot_id&quot;: &quot;1e60118249fb20c9b2006d1b18a3c77305f25a5884fda15beb9a2a1949c9ba41&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;37eb5090a5d422317eea4627d8dc0a49d5cb3d07c18779b8dfbdd039833b2f45&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;7685c77ef1b74e4be677fd81caaf88f76391d136fa407eb6742b68f64235f8ad&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-11 06:05:03&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-11 06:05:05&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;2161aecfa189bd18e0311cec89ff7731fcadc53d56a101ed13af586fa674334b&quot;, &quot;snapshot_id&quot;: &quot;1e39b66e38d032a4453cc8f0072a1571d1c0fb8a00a56c7be0b525bef2aadf10&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;2b7013a7f4f277d4066bbf2026e55a76569ea65a4c5d0f00f524d1c4cba65154&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;152174652e1bff3129dde1e0724459017d0e0045418c8c2f97dc97da27cafb6c&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-11 03:53:01&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-11 03:53:07&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;6d57048ffc1f534ecafb1dca79db4be86f86517673d0c84b8a39013414d9a94e&quot;, &quot;snapshot_id&quot;: &quot;57eb1ed08adac315c206832bec0de65ad0a6142904de3bd38fd44b835ac8471e&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-11 18:00:37</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:06:47</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-11 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-11 06:04:56</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-11 06:04:56</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:05:05</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-10-11 23:28:59</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-11 23:20:31</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-11 06:06:47</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">138606</td><td>2026-10-11 06:04:56</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">152</td><td>2026-10-11 18:56:38</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-11 23:59:31</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791763177</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">458</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">654</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:04:57</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">745</td><td>2026-10-11 06:04:57</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-11 06:04:57</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:04:57</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:05:10</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-11 05:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-11 06:04:57</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-11 06:04:56</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-12T05:10:08Z",
      "id": "urn:prexel:issue:f3a1f764-fb7d-545d-b1e5-252f0dea709c",
      "summary": "Prexel daily — period ending 2026-10-11. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 41 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-11-daily-62935129c716.html"
    },
    {
      "_prexel": {
        "content_hash": "c40c8f80ab41f5283424279d6d492ac154fa614bd7ac9ee1ee39e1e6ceda423a",
        "context_hash": "3b7e20376f3ba3fe9bff11345a8165a67feb27b075f542be99f6e8fd6fde6c06",
        "kind": "daily",
        "period_end": "2026-10-10"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 40 (daily)</h1>\n<p>Period: 2026-10-10 → 2026-10-10</p>\n<p>Context hash: <code>3b7e20376f3ba3fe9bff11345a8165a67feb27b075f542be99f6e8fd6fde6c06</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Implied OpenAI valuation: ▲ Bullish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Effective inference price: ▲ Bullish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Evidence revised; cause unclassified. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-10T03:54:16.930872+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-10T14:18:35.720939+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-10T14:18:35.720939+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-10T14:18:35.720939+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence revised; cause unclassified. Published 2026-10-10T14:18:35.720939+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence revised; cause unclassified. Published 2026-10-10T14:18:35.720939+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 28 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 15 bullish, 8 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-09 22:59:30+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.9594775883838387; b200_h100_ratio_change_14d_pct=0.14175212322518008; b200_offered_usd_hr=7.813020833333333; band_measured_pct=14.175212322518007; band_pct=5.0; h100_spot_usd_hr=2.6399999999999997</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.9594775883838387, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.14175212322518008, &#x27;b200_offered_usd_hr&#x27;: 7.813020833333333, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 14.175212322518007, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 14.175212322518007, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.6399999999999997}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-09 22:59:30+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-09 22:59:30+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=0.25714283897763207; h100_depth_smoothed_3d=26.399999618530273; h100_dispersion_smoothed_3d=2.7013041973114014; h100_price_change_14d_pct=0.03584038887804403</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.25714283897763207, &#x27;h100_depth_smoothed_3d&#x27;: 26.399999618530273, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.7013041973114014, &#x27;h100_price_change_14d_pct&#x27;: 0.03584038887804403}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-09</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-09</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-09 22:59:30+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=-1.4584908174007234; band_pct=8.0; h100_spot_usd_hr=2.6399999999999997; spot_trend_30d_pct=-0.014584908174007233</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.4584908174007234, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -1.4584908174007234, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.6399999999999997, &#x27;spot_trend_30d_pct&#x27;: -0.014584908174007233}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:16:10+00:00</li>\n<li>interpretation: Up 13.2% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 13.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 13.161969989252388, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 13.161969989252388, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3065154957, &#x27;total_tokens&#x27;: 218533197598354}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:16:11+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +0.02pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.8%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.022843965062065763, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.79262560969885, &#x27;top10_share_change_14d_pp&#x27;: 0.022843965062065763}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:16:11+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 20 cuts, 17 raises.; Fixed-basket price at prior-day token weights: $0.705/Mtok.; Seven-day like-for-like change: +3.97%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.973170483865096, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 353, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7046497048381705, &#x27;like_for_like_change_7d_pct&#x27;: 3.973170483865096, &#x27;price_cut_model_count&#x27;: 20, &#x27;price_raise_model_count&#x27;: 17}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▲ Bullish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:16:11+00:00</li>\n<li>interpretation: The effective inference price is rising through its band — per-token seller economics are firming.</li>\n<li>evidence: Seven-day effective-price change: +26.88%.; Token-weighted effective price: $0.693/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 26.88061860887345, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 26.88061860887345, &#x27;effective_price_usd_mtok&#x27;: 0.6927075633508252, &#x27;matched_model_count&#x27;: 353, &#x27;total_standard_tokens&#x27;: 141378341663691, &#x27;unmatched_token_share&#x27;: 2.9208633633863994}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-09 16:41:08+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +153.8%.; Trailing three complete months: 151 new listings (50.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 153.78151260504205, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 153.78151260504205, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 151, &#x27;trailing_3mo_rate&#x27;: 50.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:16:11+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: +0.85pp.; Open-weights share of routed standard tokens: 69.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.8543756005445715, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 3.1051857781950076, &#x27;chinese_lab_token_share&#x27;: 69.85924311313745, &#x27;matched_model_count&#x27;: 353, &#x27;openweights_share_change_14d_pp&#x27;: 0.8543756005445715, &#x27;openweights_token_share&#x27;: 69.73464941799267}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-09</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:16:27+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $61.85/MWh vs prior 14-day $43.45/MWh (+42.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 42.348477113613185, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 61.85034654761905, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 43.4499531022409, &#x27;caiso_da_trend_pct&#x27;: 42.348477113613185}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:16:27+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 20.48 MMBtu/MWh vs prior 14-day 14.33 (+42.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 42.90949787275048, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 20.482131308823433, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.332239363867291, &#x27;caiso_heat_rate_trend_pct&#x27;: 42.90949787275048, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:16:27+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY -1.54% vs control mean +18.05% (gap -19.59pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -19.59113274747191, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 38.76424803447573, &#x27;dc_load_premium_pp&#x27;: -19.59113274747191, &#x27;erco_load_yoy_7d_pct&#x27;: -2.6564407740930287, &#x27;pjm_load_yoy_7d_pct&#x27;: -1.5372291172805588}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:16:18+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +7.60% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.59514976912762, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 80391.0, &#x27;nova_load_yoy_7d_pct&#x27;: 7.59514976912762, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-09</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Down 17.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -17.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -17.362118273655412, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -17.362118273655412, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;fff53db9ff7abe7365c9af57aa45756172ffb0060802349fb651d547d9d58716&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-09</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-09</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Down 4.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.186697553694274, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.186697553694274, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c599d653bae612139c3592c6ed6985bc0440ca9db1f603a6ee580f9f7f957e7d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6ac7750a248161c0a15d4d96e2ac1c5d6cceece35a423560a6fb70b24e4d5810&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ebb97c88f9017c24da67d295d6212b698987f5293581f9af68ce5e0107061f0b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;ec4cabdcc6c4bcdb538d69f2696ef7bf94e4e2bf9863d1c6c362ae0cd73fe835&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9c08a00091ff84e4d00b16c1f93f154df02f43d46a4ddac4a4fc82cc1b0d060c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6d17a20730876a15f3be401564f3a14d73b7e3c94fd5fdc794617abf2df5b4d3&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 03:53:21.798000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:920b0864f10db72f85eaf36747c27c8c0e1e1cdf29c2ae37be77014da388b21c:5188f14e7bdbb62d4f82376fa96ea6021aa37df2da2baf0aeeb3cd535411b8ab&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf36dbd991a2a0057f41555c930b8213e25bbaa57a8ae74f32e7e5acb82f02db:8b4c13bacf5a764c4390e382161d0858041c6a9c0b56658e462a01debca1fdc3&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:cf36dbd991a2a0057f41555c930b8213e25bbaa57a8ae74f32e7e5acb82f02db:8b4c13bacf5a764c4390e382161d0858041c6a9c0b56658e462a01debca1fdc3&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.15555607232135}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Up 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.10%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.0963457920644792, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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14:17:27+00:00</li>\n<li>interpretation: Down 14.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.02909029676569, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.02909029676569, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Up 5.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.503032286824627, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.0102014935634136, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.0102014935634136, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fe9ee9c14359c41db539bd34d09abb26b8be0dd4b21e0483561ce5e0cedaf0cc:e66f9cc0101b4d5bdfc6a2d166cbe94fde16cfaff82f3d14869d89b902645a36&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 138.03389196161973}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e9db73288323c4d78bf253fcaaffb548a922c752097ed4b5f95c991be1a36442&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;dafe36fe18c4a3471f18d19961ca50443115171660e34e2bfd6ba6af9cde83a2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9e491f6532034b22ac1702dc2062b9fc599db8a11bfc8bb10895f0361f78aa18&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7c28d524c4b11bba523d46c8b7c606766187b33b8ee431ebb03e63d53e3c80e1&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 03:53:21.798000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8b4f2a44dc00312c7379cb5c0e8341d2cf262218a2e688c608d7aafcb485993f:b9ade2d5cb8f66f905acf2ea755240ed3c4eae2799a375f897f089641689f388&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:16e4e5307ff609dc470ff65ee9cbeed0c66f962e6908804d313f78fd7a47cc36:e10ce63921f7c6dc7b018b429e91a88d40dd6609008939c69467d25743cce6f8&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:55bfc8cf9318e6dc2d225658399ad0854759820a67c83f2f062f48e067783373:a67294156c9587b2bab884b6b42f860e11165dded46318e1edeaeff8af592fe0&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d2349742964b33e254ed89934595ad7bfec9b16442898b875ec15a126f5bb59:a0a93b5e91e74886a137ccd81990b2376b635a7646f889deb101133c1574e79d&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0d2349742964b33e254ed89934595ad7bfec9b16442898b875ec15a126f5bb59:a0a93b5e91e74886a137ccd81990b2376b635a7646f889deb101133c1574e79d&#x27;, &#x27;aib_bronze.equity_ohlcv:16e4e5307ff609dc470ff65ee9cbeed0c66f962e6908804d313f78fd7a47cc36:e10ce63921f7c6dc7b018b429e91a88d40dd6609008939c69467d25743cce6f8&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:55bfc8cf9318e6dc2d225658399ad0854759820a67c83f2f062f48e067783373:a67294156c9587b2bab884b6b42f860e11165dded46318e1edeaeff8af592fe0&#x27;, &#x27;aib_bronze.equity_ohlcv:8b4f2a44dc00312c7379cb5c0e8341d2cf262218a2e688c608d7aafcb485993f:b9ade2d5cb8f66f905acf2ea755240ed3c4eae2799a375f897f089641689f388&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.47357939126029}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.57%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.5666045514115758, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.5666045514115758, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;facc800b482fe2acc6379f179281d7ccc13d2a7673c3dafe28f042c3ab487266&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1948dcd4b16b82d542cccd2133c525e6b2a2f06cecee28a871eb36a6962c4bf1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9ca0532138789113d5f8304cbb1dd0d963173ddd59570d04826545e816006b1c&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;b6ce227f5dab8e57e02092c18da2f12645ed87ce39ab1cc4ec6e11958d5321d4&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5abb7abeb4d12b13002ffbcce311b42a8e2f58551d4651bd215e4b2bed296c8b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5a45686483c03d7b484735d644153381fee337f2303e7ba3e533b291370c1b69&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 03:53:21.798000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c642705b5d1db6aeac74607dd2553858e4aaa3618152d665346d2323e529d1e0:42068938a6a7697d27311d20f23ceb428d269b92b539a4fcf849e889b583a7b6&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d63acb12b433e34b77e49c27ec45fc0ccab3ada75310a1b3f511310a919b7dc:a332582edfdbd1a1bc1e00e672675cb0a8759ddeb75c6f9a6bf3215f1e9d2d1a&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e541ccb4df439647ad29ea7846f4ac58b43dca46062d6cdeac329626e979ffba:420c4462b764272a40729ee218640563f4fbc3aa30b04d5b828a7ad8381eb489&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d1eeac69cd337eb01bf49d684f1fbeca5a6e1f6267ef129f97e1c239c158f71e:e7f98bcfb5cd7d7202471b23c7a072a051c274fceea573fd8bfe961d39718a3e&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:0d63acb12b433e34b77e49c27ec45fc0ccab3ada75310a1b3f511310a919b7dc:a332582edfdbd1a1bc1e00e672675cb0a8759ddeb75c6f9a6bf3215f1e9d2d1a&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:c642705b5d1db6aeac74607dd2553858e4aaa3618152d665346d2323e529d1e0:42068938a6a7697d27311d20f23ceb428d269b92b539a4fcf849e889b583a7b6&#x27;, &#x27;aib_bronze.equity_ohlcv:d1eeac69cd337eb01bf49d684f1fbeca5a6e1f6267ef129f97e1c239c158f71e:e7f98bcfb5cd7d7202471b23c7a072a051c274fceea573fd8bfe961d39718a3e&#x27;, &#x27;aib_bronze.equity_ohlcv:e541ccb4df439647ad29ea7846f4ac58b43dca46062d6cdeac329626e979ffba:420c4462b764272a40729ee218640563f4fbc3aa30b04d5b828a7ad8381eb489&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.57288001495108}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Down 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.6065412616578576, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.6065412616578576, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ebb97c88f9017c24da67d295d6212b698987f5293581f9af68ce5e0107061f0b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;90c9f83b9861af8b4f3a13415cdfc95b11edcfe9a16abb5f02ecaa352b7e5b5d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d05eaba710d192dc0d2f6127e08f1a2ca58e01d6f0560f833b4f6f64600fb8b9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d241c593315b9915f4c503d48ebbcbe8b201c8be41c2bc7298a927431e8f622b&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 03:53:21.798000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4bb58dec02e88cce607f8fd171ec96e67202c67df0711e569c4031350133308d:083138b4c4ea35b1c4afc3ee387e423dd912205a379e983f73453bd06aea7a0a&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:37c44e0f7eabd38cd465c6e0cecac4693580995dec25f11e48111ba394591a6f:6953b5fa8653c46986ea7c22b2f564222052b5c97c53c2e2cb6110a40832379b&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:37c44e0f7eabd38cd465c6e0cecac4693580995dec25f11e48111ba394591a6f:6953b5fa8653c46986ea7c22b2f564222052b5c97c53c2e2cb6110a40832379b&#x27;, &#x27;aib_bronze.equity_ohlcv:4bb58dec02e88cce607f8fd171ec96e67202c67df0711e569c4031350133308d:083138b4c4ea35b1c4afc3ee387e423dd912205a379e983f73453bd06aea7a0a&#x27;, &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.70597794266885}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Up 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.613830513097759, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 2.613830513097759, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ebb97c88f9017c24da67d295d6212b698987f5293581f9af68ce5e0107061f0b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;2a84b3630e0be3e19d892d0f78aa6dd01f62d94c2cfd6c13e182fd7198ca61f2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;82cde039748481d71783ee6bd804097b4de0a6f617dc22d526476f94d286dde0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;22e46cfc2c6785ec8863fd2a02dc4c7402b615249884d6ed7f30fa89f186a9cc&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 14:17:35.067000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1f77158848abe4961940d3391e5e6be50b0099ce9f4b7b71ff06468819c7966d:3859e747279a40c262bb7f825a74fe53d9c6355796c3083acd9d09df18b1c917&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ec95f08eaf4c30a267d1c927d8a6b9829881e74e28a21f3b9536a6dd2581dd6f:b5b3b76cd6fbfb00a74e9552a901ffbe6f757e8113d012c7ef47043c702dad95&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1f77158848abe4961940d3391e5e6be50b0099ce9f4b7b71ff06468819c7966d:3859e747279a40c262bb7f825a74fe53d9c6355796c3083acd9d09df18b1c917&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;aib_bronze.equity_ohlcv:ec95f08eaf4c30a267d1c927d8a6b9829881e74e28a21f3b9536a6dd2581dd6f:b5b3b76cd6fbfb00a74e9552a901ffbe6f757e8113d012c7ef47043c702dad95&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.16024885917273}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Down 5.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.0326322216175505, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -5.0326322216175505, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;c29090cec1b57d81de8f7e211aa04a84cf69487000f4d6df379f7837193ea2bb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4788c48538227f7005662303e6a6cf6be2529b016df743121d64b297300992c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ebb97c88f9017c24da67d295d6212b698987f5293581f9af68ce5e0107061f0b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;084248273098ef2efb1f278e5626b18122d23efc9ef571da4a9457f653306582&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a4834bb1f63ef5b93d99b1c81f21c17f58593a87bdef68cf37b0eacc00e752da&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2f83e0b41fe85debb1ea8fe5cce306156924d3eaf44c03f8bbdbcadee3774f04&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 03:53:21.798000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:19db7d8252e0c8c02fc456a9b384638ab7985cfedfad8e58530701368bc9b751:02494f9261db33647d374226fb65aa106233f6ad806e5ff081479287aab48136&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fd9921220d98467bb67ade44abedca0d30446e9ab5301f794de1ad876849f203:aee668958216f23b49243eb2ec04c70189a1c62bbc818a6cff5da4e341eafa3a&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:19db7d8252e0c8c02fc456a9b384638ab7985cfedfad8e58530701368bc9b751:02494f9261db33647d374226fb65aa106233f6ad806e5ff081479287aab48136&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:7e34f77eaf21c2abd77776fe0305aa7718230cf879e11481411bed79e2b0ca94:1ae9a8e20ce1c9263415c4a64bbbb15fa51fd75bed623d27eeb6fcd5c5f8e841&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:dae50f2c1b81f252044db090ff75964f3ed2b79832dd92b4e87f7b2e0cfa10f1:c5bfde11c3ea4420f1317a9edd14ff6c821707ca318bdced17372704ea0424dd&#x27;, &#x27;aib_bronze.equity_ohlcv:fd9921220d98467bb67ade44abedca0d30446e9ab5301f794de1ad876849f203:aee668958216f23b49243eb2ec04c70189a1c62bbc818a6cff5da4e341eafa3a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 88.58570201713404}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Front VIX at 0.83× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.835.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;3076001bb7a248bbdc073b75a7c57b69eb7f63d57342adf7a0633bf92c372cc8&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fce23049d1325a16a23cc455a2dfca20efbaad4bb7810a24109408cfb687444e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 557, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ac58cf4e86558dde59f553bd1d4ee2b94aeb58e3b5450738f873847cd7de8fd2&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;23b9479888c7408481886daa921106fda5f3b289be76182489d6cc138e0f18a9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d50516035f5ff93d34a85ab2b821aa0fce4e38633d46f49f9fb933d5c5a5a11a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4279478656a753e681104dfe68e3c872abeae7cb46c83b689c85d16832bf7251&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-09&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-10 03:53:21.798000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bf3cfffca4b2ed1c82122ffc4da8103a72c60919f38b56bd4b29aa7d1aa866fd:f6636e7cfe8b474ca8ccdfd8f8d5ba34008b530488d90af6522053e518d8e157&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4dd824620c77507c1f9e91091a26a05ddea4ac67062db31de16dd1994ee23ccf:30f35e077fdc5ae704c9ae7e6f55085bf86bd517da8e712277c91ad5d637cec3&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0b1e97ed2e158d967815500f8c79bd9ea35bdcd4a426c81a7ab3314acfea8efe:2de0c826f13839f0f4966489da72fa69e03a612f7562de24461a0d9a7e4458ab&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-09&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2a397798f45918dc1c1d6784d5d8c16e00c8de454b8b31b63c56da01afda8279:ccff2cf0bb17b77c9dd2839eafe62afc8e7e372bb20f751ccf3cb0b54eaf6172&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0b1e97ed2e158d967815500f8c79bd9ea35bdcd4a426c81a7ab3314acfea8efe:2de0c826f13839f0f4966489da72fa69e03a612f7562de24461a0d9a7e4458ab&#x27;, &#x27;aib_bronze.equity_ohlcv:2a397798f45918dc1c1d6784d5d8c16e00c8de454b8b31b63c56da01afda8279:ccff2cf0bb17b77c9dd2839eafe62afc8e7e372bb20f751ccf3cb0b54eaf6172&#x27;, &#x27;aib_bronze.equity_ohlcv:4dd824620c77507c1f9e91091a26a05ddea4ac67062db31de16dd1994ee23ccf:30f35e077fdc5ae704c9ae7e6f55085bf86bd517da8e712277c91ad5d637cec3&#x27;, &#x27;aib_bronze.equity_ohlcv:bf3cfffca4b2ed1c82122ffc4da8103a72c60919f38b56bd4b29aa7d1aa866fd:f6636e7cfe8b474ca8ccdfd8f8d5ba34008b530488d90af6522053e518d8e157&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8351153629713}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-10 14:17:27+00:00</li>\n<li>interpretation: Down 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.66%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.6640557608829756, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.6640557608829756, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;78c3b17b426a41afc1b229437fbf02ef52b0e2f1c5d7de8d09b9950cddca5698&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1ecaf80deafe2cb21d66dbca01857429e1403844785c7aafb369a970f8c5384f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-10&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7ab0c2d34d6d2d3544a576620081e1a65e463727d6abeb0be77d1dbc7cdeb2ea&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;40d69469a3ec5be97edba6d1e3db75bb64e4b787cf9dd72cf5aaac1196ae84e5&#x27;, &#x27;history_end&#x27;: 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&#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:0d63acb12b433e34b77e49c27ec45fc0ccab3ada75310a1b3f511310a919b7dc:a332582edfdbd1a1bc1e00e672675cb0a8759ddeb75c6f9a6bf3215f1e9d2d1a&#x27;, &#x27;aib_bronze.equity_ohlcv:13d5ced098f7225b413cb1324616f0e6f7797a5bcf9a7cbdbbdfdbbd5333d4cb:000fd405c6d4b6b6ca5b81a8f84f26826e9d201f82eb8df70bd1e8fb581f1c56&#x27;, &#x27;aib_bronze.equity_ohlcv:18268eb063878eddf05febf367cecc9993a15019ba7aee4b87cb8dbff021d030:90d28016fcee88b1f18c88c0d6ec1d21dae27fc5b166c0a03b8cc44a7a6a206c&#x27;, &#x27;aib_bronze.equity_ohlcv:1ceeb6fa9dd296ab71b5357adcb7e312e63b49d38da4dd3aa8755b35e55a9c74:00710da351fcb770f67401f3e75a332ea5f8964d03bfbdb7501ba01d4a9eb813&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:b18fb9be30a3e69c0174f818f24aaa2ce570fc72296f110258c4e325dfe0751c:d70100c19760ceab742246cb2c04b4d9ca39bf90bf1340f891691e92e3381456&#x27;, &#x27;aib_bronze.equity_ohlcv:cedcbe533c23ca9b2ae1b79fd53437277615256d0ea8dc130ed7132093dcedd8:1381828ed53b578e742c8f45e00ba31b22bc7845c965ab0c47d78eab7455206b&#x27;, &#x27;aib_bronze.equity_ohlcv:d1eeac69cd337eb01bf49d684f1fbeca5a6e1f6267ef129f97e1c239c158f71e:e7f98bcfb5cd7d7202471b23c7a072a051c274fceea573fd8bfe961d39718a3e&#x27;, &#x27;aib_bronze.equity_ohlcv:e4ed76851dd023f86a2a864a01f219b719953eae8806a23b5979e4d21aa16f55:17cd178d4a79e4bba112af19144712044268d17666662efb4b3548e3fa5f2682&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.51188064833855}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-09</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-09</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-09 / 2026-10-09 22:24:36+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,199B (conditional on an IPO), +19.72% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $99.; Probability-weighted bucket midpoint: $1,199B.; Seven-day implied-cap change: +19.72%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 19.718349057916562, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0295, &#x27;full_set_prob_sum&#x27;: 0.9834999999999999, &#x27;implied_cap_change_7d_pct&#x27;: 19.718349057916562, &#x27;implied_cap_usd_b&#x27;: 1199.1525423728815, &#x27;ipo_by_2026_prob&#x27;: 0.0425, &#x27;no_ipo_by_2026_prob&#x27;: 0.954, &#x27;volume_24h_total&#x27;: 99.47644}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-09</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-09</td><td class=\"num\">130,502</td><td class=\"num\">24</td><td>—</td><td class=\"num\">11.55</td></tr>\n<tr><td>CISO</td><td>2026-10-09</td><td class=\"num\">805,018</td><td class=\"num\">24</td><td>—</td><td class=\"num\">29.77</td></tr>\n<tr><td>ERCO</td><td>2026-10-09</td><td class=\"num\">1,417,072</td><td class=\"num\">24</td><td>—</td><td class=\"num\">1.741</td></tr>\n<tr><td>PJM</td><td>2026-10-09</td><td class=\"num\">2,056,229</td><td class=\"num\">24</td><td>—</td><td class=\"num\">5.352</td></tr>\n<tr><td>SOCO</td><td>2026-10-09</td><td class=\"num\">580,184</td><td class=\"num\">24</td><td>—</td><td class=\"num\">2.937</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">52.32</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">51.65</td><td class=\"num\">0</td><td class=\"num\">-0.6644</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">52.23</td><td class=\"num\">0</td><td class=\"num\">-0.08965</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">70.83</td><td class=\"num\">0</td><td class=\"num\">8.5</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">62.33</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.64</li>\n<li>as of: 2026-10-09</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.01458</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>407 benchmarked model identities; 242 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 7,145,996,655,395</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 2,245,008,551,390</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,663,885,364,181</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">5,018,859,900,055</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 2,275,612,301,052</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,949,298,417,687</td></tr>\n<tr><td>Claude Fable 5 (Max, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 346 eligible configurations.</p>\n<p>Usage window: 2026-09-10 → 2026-10-09. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-10 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;a27ccd80d9ce74d72f818444fc14ea28134465f6d8466e0839d11c7e88ebd934&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;86c6a0e3f5fe765bd5f7e486741a5c23cb63dc74f65ba5a0dfe4088f9b427076&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;7f80d522d3029a78f8bc935429a8f182f27869117d068161f2dcb66f8d3be0a5&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-10 14:16:12&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-10 14:16:20&quot;, &quot;record_count&quot;: 1819, &quot;records_hash&quot;: &quot;2dceaf23935a6b2829a1f1f7242a840743d700fe1dcbe737fd2b378f44851595&quot;, &quot;snapshot_id&quot;: &quot;c067e4d60137846a7edfeeb40908d0c3580d9bd13f97648c3f6b2a3e95a5079e&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;333dcd03e84d3e0ef1393ef2c8611f938dd8149d6343e967e6686030cf8872a3&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;238e06ee4e1ae12bd6a3579778219567cc5b990a99ddac49542994bc1cbb1bd5&quot;, &quot;9e21d21964856b44f5a234420c801c21f1566a316ba3004470125a77771e7160&quot;, &quot;d7299936a00aa08f67ae78f5e2569c696d1efd3dbeedfa31a35d8309f026eb01&quot;, &quot;66a9eca6f12dd12735ce54ddf96bb6de3af1ed33372a64f5ab704393c6fec214&quot;, &quot;0ae393e10638c0b05cfefbdcf37d459a787e2c077586e580e9a1941f7117e9a6&quot;, &quot;62ea3b02696ac9cb7978a3e5f9cfe13aa809dfb0399f1439a4a5d9a3b12c9139&quot;, &quot;fc2361d757edab46bed8c481a1864f832be67f227ffd84231b18f36f0376a362&quot;, &quot;cfd414b1ddf8c73e7bc4eb19e2001c34e03e80afe79b51e74a81eef86a4a7fd3&quot;, &quot;45c28aee5de0e30d1dc8eac5759440b9d9f6b0f1e64c37c0cc4be8ad05bd193e&quot;, &quot;9cf4fa57b63e7b870da9bc6b857a107d0bfea90bcd9e60d3e9ffe5676135fd48&quot;, &quot;1223e270fe9ccbccdad38dd810f43ab5e50159b50fdeaa1f4ada386b7ce05db3&quot;, &quot;dcc93dd9a1e42452b44bc3b9ad28eea86fdc022da06751d7f8778075660ac690&quot;, &quot;bf2caa0592df85994950a61871e7e55b725931fbd2fdf99db8acf1d0760c4952&quot;, &quot;d5dd480d420f791f33e64fb83e1cfeab8282004175f9d973c927a7c148bb9036&quot;, &quot;f5f90c524bc88618427e20a934264ee40c01c1765041d14d563dfbc61ead03b3&quot;, &quot;3b84ee13eca798fc266fbd5c641809f0192932179d5b012c7ae9e8fdcb3a54fa&quot;, &quot;d4825bd012b5b5e6dc26fa8b851459179247c9b3e3282783965168d6c6bf1525&quot;, &quot;8ad2b8c07fe4dbb09ccb6ce890bb49d855c1c64067ac2fa29037fcfcab68bd07&quot;, &quot;ee86a93a9f565ecafd994c1f9ca50f9c811c7ffa24629a7046b5a058e01a8985&quot;, &quot;64fe5c26d42d30c91430e3a0f82401dfa84da797c110536dc0a2ea54edeaf10f&quot;, &quot;06bbafeae82649668407d65986248d54fc4f0c27579b4a14a65076abd4400067&quot;, &quot;d4e84b7bf6a9fb0b00b7d03bb5425d82f2dd2db32cc236ee9c538863dac2db59&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-10 14:16:22&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-10 14:16:24&quot;, &quot;record_count&quot;: 746, &quot;records_hash&quot;: &quot;cd7c4cc5fa30b00aefd5be1fcf41907b4c75d6b828c539621f739e09dbf91b48&quot;, &quot;snapshot_id&quot;: &quot;6379539150ecf769f2dbb37552db736e8391eb353d9355e14e9e66f8eb04f734&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;460c2f335626ced0ed1fdd4e84a5ac3c2a523fc5294bcb1ad6d9296ad173ce84&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;9cb7669ea1b82042418c00c66d36fea18390903b70da007d173e1c10f2d33a0d&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-10 14:16:17&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-10 14:16:20&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;d85aab2404c4429ba225bbeef871433f37befe9f8611f339f45ecaf976898bba&quot;, &quot;snapshot_id&quot;: &quot;7251d91aaa941684158026a9972a8636484c4728e83f894cfacc77f9657ecbae&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;2856b53f856541c311855cc7088b2c596c9e094297d972c21e34bb5db38758a9&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;2289903b909d54f9c10913359d51cdf09384b09a68f896f7c754fb817f66d6f0&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-10 03:52:01&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-10 03:52:07&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;4fbcf6c37c7d24065a713c8159dc08670eed1d4cccd2877a00ecea9cc82e42cc&quot;, &quot;snapshot_id&quot;: &quot;6c18ce73882bd743fc98c042764db2cd48ac8cb18759806be5df172bdff09353&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-10 20:15:21</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">3</td><td>2026-10-10 14:18:06</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-10 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-10 14:16:07</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-10 14:16:07</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">1</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-10 14:16:20</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-10-10 23:05:45</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-10 23:02:31</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-10 14:18:06</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-10 14:16:08</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">138605</td><td>2026-10-10 14:16:07</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">176</td><td>2026-10-10 20:10:53</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-10 23:31:24</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791675089</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-10 14:16:08</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-10 14:16:08</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">458</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-10 14:16:08</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">654</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1819</td><td>2026-10-10 14:16:08</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">746</td><td>2026-10-10 14:16:08</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-10 14:16:08</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-10 14:16:08</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-10 14:16:28</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-10 05:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-10 14:16:08</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-10 14:16:07</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-11T05:10:08Z",
      "id": "urn:prexel:issue:392471ab-0372-5e6c-9281-d4ef6e4bfc29",
      "summary": "Prexel daily — period ending 2026-10-10. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 40 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-10-daily-c40c8f80ab41.html"
    },
    {
      "_prexel": {
        "content_hash": "7533aea76e9a231746961466a2fce1da83bbf5203fa2ccc49c2398dddc09b7c9",
        "context_hash": "20969ab68bdcebb517802efe31e116463e63aa8ed9b8281c2a4e3b58be8ce1db",
        "kind": "daily",
        "period_end": "2026-10-09"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 39 (daily)</h1>\n<p>Period: 2026-10-09 → 2026-10-09</p>\n<p>Context hash: <code>20969ab68bdcebb517802efe31e116463e63aa8ed9b8281c2a4e3b58be8ce1db</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Implied OpenAI valuation: ▲ Bullish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>B200 vs H100 rental price: ▼ Bearish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>H100 spot rental price: ▲ Bullish — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Effective inference price: ▲ Bullish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-09T03:51:03.627484+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Effective inference price: ▲ Bullish — inference unit economics for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence revised; cause unclassified. Published 2026-10-09T16:43:27.678433+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-09T16:43:27.678433+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 14 bullish, 9 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-08 21:57:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.506253220190801; b200_h100_ratio_change_14d_pct=-0.2393499164847536; b200_offered_usd_hr=7.502604166666668; band_measured_pct=-23.93499164847536; band_pct=5.0; h100_spot_usd_hr=2.993553925925926</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.506253220190801, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.2393499164847536, &#x27;b200_offered_usd_hr&#x27;: 7.502604166666668, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -23.93499164847536, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: -23.93499164847536, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.993553925925926}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-08 21:57:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-08 21:57:56+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=0.25714283897763207; h100_depth_smoothed_3d=26.399999618530273; h100_dispersion_smoothed_3d=2.6996501749125437; h100_price_change_14d_pct=0.07919212754793485</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.25714283897763207, &#x27;h100_depth_smoothed_3d&#x27;: 26.399999618530273, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.6996501749125437, &#x27;h100_price_change_14d_pct&#x27;: 0.07919212754793485}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-08</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-08</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-08 21:57:56+00:00</li>\n<li>interpretation: H100 spot rental prices are firming.</li>\n<li>evidence: band_measured_pct=11.738379424331741; band_pct=8.0; h100_spot_usd_hr=2.993553925925926; spot_trend_30d_pct=0.11738379424331741</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.738379424331741, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 11.738379424331741, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.993553925925926, &#x27;spot_trend_30d_pct&#x27;: 0.11738379424331741}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:41:07+00:00</li>\n<li>interpretation: Up 14.7% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 14.66%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 14.656559194152429, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 14.656559194152429, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3120720333, &#x27;total_tokens&#x27;: 215630628834212}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:41:09+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.31pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.30990976072089893, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.67702045083816, &#x27;top10_share_change_14d_pp&#x27;: -0.30990976072089893}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:41:09+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 15 cuts, 11 raises.; Fixed-basket price at prior-day token weights: $0.730/Mtok.; Seven-day like-for-like change: +7.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.503809790895644, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 353, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7304224638931521, &#x27;like_for_like_change_7d_pct&#x27;: 7.503809790895644, &#x27;price_cut_model_count&#x27;: 15, &#x27;price_raise_model_count&#x27;: 11}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▲ Bullish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:41:09+00:00</li>\n<li>interpretation: The effective inference price is rising through its band — per-token seller economics are firming.</li>\n<li>evidence: Seven-day effective-price change: +34.58%.; Token-weighted effective price: $0.708/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 34.58110118719817, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 34.58110118719817, &#x27;effective_price_usd_mtok&#x27;: 0.7076117605080741, &#x27;matched_model_count&#x27;: 354, &#x27;total_standard_tokens&#x27;: 133295875999970, &#x27;unmatched_token_share&#x27;: 3.061759117197983}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-08 15:43:12+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +152.1%.; Trailing three complete months: 150 new listings (50.0/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.1008403361345, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 152.1008403361345, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 150, &#x27;trailing_3mo_rate&#x27;: 50.0}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:41:09+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: -0.20pp.; Open-weights share of routed standard tokens: 71.2%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.20196387827800777, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -0.0553004514109432, &#x27;chinese_lab_token_share&#x27;: 69.3381493480517, &#x27;matched_model_count&#x27;: 354, &#x27;openweights_share_change_14d_pp&#x27;: -0.20196387827800777, &#x27;openweights_token_share&#x27;: 71.19626136627721}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-08</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:41:47+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $61.90/MWh vs prior 14-day $42.58/MWh (+45.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 45.35569008398078, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 61.89816809523809, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 42.5839319117647, &#x27;caiso_da_trend_pct&#x27;: 45.35569008398078}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:41:47+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 20.38 MMBtu/MWh vs prior 14-day 14.12 (+44.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 44.296465218825716, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 20.380822158821505, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.124269868921578, &#x27;caiso_heat_rate_trend_pct&#x27;: 44.296465218825716, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:41:47+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY -0.59% vs control mean +17.16% (gap -17.74pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -17.74401996569759, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 37.43403808847794, &#x27;dc_load_premium_pp&#x27;: -17.74401996569759, &#x27;erco_load_yoy_7d_pct&#x27;: -3.1168293399285125, &#x27;pjm_load_yoy_7d_pct&#x27;: -0.5854155914228757}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:41:09+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +9.82% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.82371126201817, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 77276.0, &#x27;nova_load_yoy_7d_pct&#x27;: 9.82371126201817, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-08</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Down 18.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -18.51%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -18.506627609178285, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -18.506627609178285, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;85c3ef7b087e2e0d1e278d49f1664d6c7e746574afa4ac79591dcbb7243ac9b3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-08</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-08</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Down 4.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.785533631090832, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.785533631090832, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;a4817d06f867a6e87f482905abc8152ae53009fec099eccb06d1b46e351cd492&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e101c5d73d67b0d320a21195feef13247862e0de2bd6c6b69380f6a59391d98a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;bb8b6861988b4e68e509226cf8cff72329411d4becd639dedb5106d7ba57190a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;3ab99ef0f54617f77e25d35b59288d1cbb2dff24c8c31fddfbc1a4f73f1d0a82&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;48243a6bcae953b6f74f09ed6f4f4bbb528eb3e97855a5fd7ba200969b7594c5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;13ee8450578409fc8817f2915cd73ea4aeaf3e20f89275409c548cd2cece42b5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b67c978dbccf210a64e356c793145428872e9edc6a85cedabc41dda027f430a9&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;73f565116027beea5e6e7c5e8a462422f35e00ff4aa2c36665e4af40adb442d4&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-08&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-09 16:42:30.360000+00:00&#x27;, 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&#x27;aib_bronze.equity_ohlcv:dd5ee33a45805e4f5d99c3878d35e2667de226b944b34902667cdfc8760d714a:48a71e4b3ad3228e98f32039fd2de4c154a4650bd0421ddc72610ac054d4c8b3&#x27;, &#x27;aib_bronze.equity_ohlcv:e24fb1a89913993f234e3a527c7c720b8043223d29a8d34d8a8b5f448c1bb06d:22c23f293deb880be73a22265b10f2d7cc1316e73d0d6bda570c41ec7d58a77a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 109.22621041459173}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Up 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.15980325391846684, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.15980325391846684, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;AMZN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;36b89b47116eaf64c00bd4fcb69ae55016ae693173df01bf49a39c067051c9d7&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0a2314bef93fa69d37dbdaa9fbd82e44be62e99d87d5fccc708ede446abea080&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;5a7ad91e3ca0cf6b00d953f2567e92475425fe37144be274f19f574fa3e653f8&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, &#x27;ORCL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;0ea1683e13daaa543fee50638bcecf900be63ca7f51544a307d3dd3956ecf4ee&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f1bf614807f8daad52e41d3bccb15cd82c8bb64879d56942cee985868951802c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7633e9773dae5b0616ac7c074c999170007c05fe3efc98ca5d7fec5e198a59cf&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-08&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, 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16:42:22+00:00</li>\n<li>interpretation: Down 15.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -15.67%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -15.667967192050924, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -15.667967192050924, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Up 1.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.9528704665701557, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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4.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.93%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.9339824320410175, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 4.9339824320410175, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:dd5ee33a45805e4f5d99c3878d35e2667de226b944b34902667cdfc8760d714a:48a71e4b3ad3228e98f32039fd2de4c154a4650bd0421ddc72610ac054d4c8b3&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 139.4212909006198}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;09c118a9a6dc6be12807b2be03c03d7c3c8803c709e062d54d3823caf5d6e899&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;0e4cda86ac8f24ba6b205c880284ac135ca1ed8f26ee6d2c41d46a000e27eeb3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;23285982866628207d6fb2f20e2f3ef692f2a1ecede38f9c1226a8009cf47f71&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;775b7084786365745f7b8ccb7f1352cd4b8d8d5246fb1877de84f592dc6b2240&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-08&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-09 03:50:12.701000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:883fd3c8a0339887ddabc91755dc87f4ca7891446e51e319e0a87d0620c37332:48e7f288ee9fd1ad97e0ff3d65cc0cf1f2b74e001e95050833c75f7f4aa37748&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:491fc430cfe9a7ac59b6fe27a5a939ceaf94c2c9841fc110af7b18aa80eadb1b:2de9cba6d356e24e5f428531f5f21ad4e26df727fc7464058838d2ce48fe1e38&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3b3bf7400f706f2d090ca0070a06aa937dff001f4fd005e8735fb1848f64f90e:a2310c1569a24ad33c84a969543a8bee925c606739069ee662ac2533524233bc&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:297e8052e3f7019afc626cfbd3ed382115624200a52664b85b76f662a2a9228b:0bfe4c950b583949269f1c13ab316d2043a9a3bfce5fda5c9b34990f73b5287a&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:297e8052e3f7019afc626cfbd3ed382115624200a52664b85b76f662a2a9228b:0bfe4c950b583949269f1c13ab316d2043a9a3bfce5fda5c9b34990f73b5287a&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:3b3bf7400f706f2d090ca0070a06aa937dff001f4fd005e8735fb1848f64f90e:a2310c1569a24ad33c84a969543a8bee925c606739069ee662ac2533524233bc&#x27;, &#x27;aib_bronze.equity_ohlcv:491fc430cfe9a7ac59b6fe27a5a939ceaf94c2c9841fc110af7b18aa80eadb1b:2de9cba6d356e24e5f428531f5f21ad4e26df727fc7464058838d2ce48fe1e38&#x27;, &#x27;aib_bronze.equity_ohlcv:883fd3c8a0339887ddabc91755dc87f4ca7891446e51e319e0a87d0620c37332:48e7f288ee9fd1ad97e0ff3d65cc0cf1f2b74e001e95050833c75f7f4aa37748&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.45115577860108}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Up 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.37473036536608273, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.37473036536608273, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;81018a64387ce1d01539126edad0869c9bb181c91fd03485ee0c002fad985d5c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0bcf2dd612f7e5304d05ba80a1baff5be259e33f4f43aff4b1abb5f4349f8530&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;05bd1d60e6a7041a88ce320d72ed9c02ad7576574cdd596e237d523533794238&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;7260ad9722c7d8ad16cf884c461ec03adb19fbadc61257ffc6e117755964ed93&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b25c08dc29d27a6a9e321d0314cb9d1ab3ca956507240325b1e00fc7faa11bcc&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;66543ca4b6ade20f0962269ce738f08bb415fc279e2b222d5fc5b8d35ed4a454&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-08&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-09 03:50:12.701000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:09a0096ceee8b401784b6872393e5a2fc9211856df6b8a59c4c2f6f2035a5066:3470c615967d19b3ee4738a88e82f5af29aeee60e56790ca7fecc1b1bd60b1fa&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:96510f2962d9daf2efe45d51900405ed39ccfae65c43e2d75f2395c9d5bb6a45:b9defb82b480d39844d7b0208ed048a0789d163dcc3d758d50913b2daad24c83&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8678fad4f555ec10a9a20761a501338bc66489d55a997a1aee8457ce40f8d46b:c068fe43c6808263fcfc9e26f825b28bde6b0841aaa300fe6fa01c524f6d1ed9&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c3fcd45dc1bb8fe5afdd4aea8d76604cb9c09f012019feaae40b7b49d09d8aff:3499f86bd0294757a9fe4f263f91db00c1b632bef27cc549d54ae482637085d1&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:96510f2962d9daf2efe45d51900405ed39ccfae65c43e2d75f2395c9d5bb6a45:b9defb82b480d39844d7b0208ed048a0789d163dcc3d758d50913b2daad24c83&#x27;, &#x27;aib_bronze.equity_ohlcv:c3fcd45dc1bb8fe5afdd4aea8d76604cb9c09f012019feaae40b7b49d09d8aff:3499f86bd0294757a9fe4f263f91db00c1b632bef27cc549d54ae482637085d1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.39160622933676}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.035444608616611, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -3.035444608616611, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;bb8b6861988b4e68e509226cf8cff72329411d4becd639dedb5106d7ba57190a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;3ab99ef0f54617f77e25d35b59288d1cbb2dff24c8c31fddfbc1a4f73f1d0a82&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;48243a6bcae953b6f74f09ed6f4f4bbb528eb3e97855a5fd7ba200969b7594c5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;7407ad938a16e06a395c9a5a925eca950b71d003a68bf7341762ee8b29da97f1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4427511aa22da69f691b91f834dbe6125b3816e877317e0c3b49c6ec20443905&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;916de5784d658669bbee7e652ec369235eb1671af58c89a34e68a6ed582e53d8&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-08&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-09 16:42:30.360000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9817752eee3dad41fd37012a961b734069e59f773b9dc3ff956d66140d3f2888:4dd27e92ca1d9f6829c2a783ae4d825557dbf8dfe98c40944c5dcb677ccf1815&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:686df18bfbffbcc4c07084f49d55d940b9f8b69130b48b0aa6376f51ea4c8a52:611ecbc4bd6a026b63081fceac7429d31fca3f41f750e1527da65972901b0e1f&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dd5ee33a45805e4f5d99c3878d35e2667de226b944b34902667cdfc8760d714a:48a71e4b3ad3228e98f32039fd2de4c154a4650bd0421ddc72610ac054d4c8b3&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:eeaf809c619e60bfed902f07b4179c74c4d38dac55e80b6821bb5c398034f6fd:6b2be860c200edea1686ec5f0b18d2f0f704d057b91a041db6b86d4cf747ed69&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:686df18bfbffbcc4c07084f49d55d940b9f8b69130b48b0aa6376f51ea4c8a52:611ecbc4bd6a026b63081fceac7429d31fca3f41f750e1527da65972901b0e1f&#x27;, &#x27;aib_bronze.equity_ohlcv:9817752eee3dad41fd37012a961b734069e59f773b9dc3ff956d66140d3f2888:4dd27e92ca1d9f6829c2a783ae4d825557dbf8dfe98c40944c5dcb677ccf1815&#x27;, &#x27;aib_bronze.equity_ohlcv:dd5ee33a45805e4f5d99c3878d35e2667de226b944b34902667cdfc8760d714a:48a71e4b3ad3228e98f32039fd2de4c154a4650bd0421ddc72610ac054d4c8b3&#x27;, &#x27;aib_bronze.equity_ohlcv:eeaf809c619e60bfed902f07b4179c74c4d38dac55e80b6821bb5c398034f6fd:6b2be860c200edea1686ec5f0b18d2f0f704d057b91a041db6b86d4cf747ed69&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.74685781182333}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Up 2.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.90%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.896640904218062, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 2.896640904218062, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;bb8b6861988b4e68e509226cf8cff72329411d4becd639dedb5106d7ba57190a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;3ab99ef0f54617f77e25d35b59288d1cbb2dff24c8c31fddfbc1a4f73f1d0a82&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;48243a6bcae953b6f74f09ed6f4f4bbb528eb3e97855a5fd7ba200969b7594c5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;6510bf3dfb89d881f3bb2147fa4a2165cd20435c678f6f286ad63cb438b162e7&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d0bf80bbaf145604931df57823818326c644d1ff935758ac33cd438af48979a4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e552aff156653e989edbcb6b9ac894ea9017a1c1cd639d3c99c10ef31711fe54&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-08&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-09 16:42:30.360000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9817752eee3dad41fd37012a961b734069e59f773b9dc3ff956d66140d3f2888:4dd27e92ca1d9f6829c2a783ae4d825557dbf8dfe98c40944c5dcb677ccf1815&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:73844d2944729827526d02b96b6dd15ba813f437a5bd38340827c42ffbbe4a9f:f04212db0a2d094cad072ef09926f9e28a4e55b999d1905ec3dbe4759e7bd5f4&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dd5ee33a45805e4f5d99c3878d35e2667de226b944b34902667cdfc8760d714a:48a71e4b3ad3228e98f32039fd2de4c154a4650bd0421ddc72610ac054d4c8b3&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:add55bf857ab964e03caeafab21d72b152aafa616224d173f1b2e510fd69cfe2:c7e26aceb29f4a903e2437d303a89832459645486b4ab78f30435cd3e5ac490b&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:73844d2944729827526d02b96b6dd15ba813f437a5bd38340827c42ffbbe4a9f:f04212db0a2d094cad072ef09926f9e28a4e55b999d1905ec3dbe4759e7bd5f4&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:9817752eee3dad41fd37012a961b734069e59f773b9dc3ff956d66140d3f2888:4dd27e92ca1d9f6829c2a783ae4d825557dbf8dfe98c40944c5dcb677ccf1815&#x27;, &#x27;aib_bronze.equity_ohlcv:add55bf857ab964e03caeafab21d72b152aafa616224d173f1b2e510fd69cfe2:c7e26aceb29f4a903e2437d303a89832459645486b4ab78f30435cd3e5ac490b&#x27;, &#x27;aib_bronze.equity_ohlcv:dd5ee33a45805e4f5d99c3878d35e2667de226b944b34902667cdfc8760d714a:48a71e4b3ad3228e98f32039fd2de4c154a4650bd0421ddc72610ac054d4c8b3&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.24836972796041}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Down 5.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.91%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.908531124008409, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -5.908531124008409, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;bb8b6861988b4e68e509226cf8cff72329411d4becd639dedb5106d7ba57190a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;3ab99ef0f54617f77e25d35b59288d1cbb2dff24c8c31fddfbc1a4f73f1d0a82&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 538, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;48243a6bcae953b6f74f09ed6f4f4bbb528eb3e97855a5fd7ba200969b7594c5&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;87a84b486c0e549f986360eaf5ba737cb869bb8fbeece3649c3ff80ce0b38bda&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a74770e82a3e14044003a5daa62135547b36809387d3113b807e35ace8bf1031&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;18b012bde7a3048e32b2fbb273fcde5549f44c3d9fcf5c0177341cd5c661f861&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-08&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-09 16:42:30.360000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9817752eee3dad41fd37012a961b734069e59f773b9dc3ff956d66140d3f2888:4dd27e92ca1d9f6829c2a783ae4d825557dbf8dfe98c40944c5dcb677ccf1815&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:568e8764e61f98757afa0946912dad425e5a67fe0c57ecc7dfa9c906e845e73d:0930427f6a32aeedce2219b6adf6177bde23572d5d82d4a31f7a0a805a9d1bde&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dd5ee33a45805e4f5d99c3878d35e2667de226b944b34902667cdfc8760d714a:48a71e4b3ad3228e98f32039fd2de4c154a4650bd0421ddc72610ac054d4c8b3&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0baceb4a4bccb86477c211b8b5db2348ba6bcc635e22ea6ba123830e75851a8f:558ead4ad109950eef1932ff8ea8f74a64284942bc6ffe4035165bfaf81e91cb&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0baceb4a4bccb86477c211b8b5db2348ba6bcc635e22ea6ba123830e75851a8f:558ead4ad109950eef1932ff8ea8f74a64284942bc6ffe4035165bfaf81e91cb&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:568e8764e61f98757afa0946912dad425e5a67fe0c57ecc7dfa9c906e845e73d:0930427f6a32aeedce2219b6adf6177bde23572d5d82d4a31f7a0a805a9d1bde&#x27;, &#x27;aib_bronze.equity_ohlcv:9817752eee3dad41fd37012a961b734069e59f773b9dc3ff956d66140d3f2888:4dd27e92ca1d9f6829c2a783ae4d825557dbf8dfe98c40944c5dcb677ccf1815&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:dd5ee33a45805e4f5d99c3878d35e2667de226b944b34902667cdfc8760d714a:48a71e4b3ad3228e98f32039fd2de4c154a4650bd0421ddc72610ac054d4c8b3&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 88.38088335828401}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.852.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 180, &#x27;epoch_values_hash&#x27;: &#x27;e85722cea8a10a04e9e62537d715fdd20c177e87f409bd080f9473a511790da9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b861a794b9e2ead273e400cf2ebe567bee9f45bb75fe402a6bbb25baebca9037&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 557, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;960a412f7f387f4735768b6d71e48476ee4b60bb1d60d5878c404834b0e60209&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;d2d4d8b17d968aba7c1d11f482da5f50c3eb2a9ef284b4e97648256ca74e1350&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2397c93c9ce4608e1fe1647395ee5a2550fd5c5f2e377dd316f6e7df7aa40846&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-09&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 549, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ae29b673593e6581538fa03a657757181b94cda13b898d8d847eedec242c398f&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:9f3e8ae3e6084f8bd5c750eb6549f4c9cc08859c5c228c2659ea2dbf3b05b7db:98b03be30bdd20671c57ba576950dd97d2decacf95c57697ecebc3975630fca9&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f39e65f591d053d36e5ab928f62602467280e9f5f9619f84108009cf87cf9e93:5b3120eefde78560dacff077317608d9f7c3d2f5684ab4885d30945afd070d0d&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:425de8f814580499d382a8c1cedff4ee668ed913e7d825cb6672c95cd959e263:5737f6e67232095cdac96dc9d6a68d0596de580de2d78e8aa833da673c8a8e04&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:425de8f814580499d382a8c1cedff4ee668ed913e7d825cb6672c95cd959e263:5737f6e67232095cdac96dc9d6a68d0596de580de2d78e8aa833da673c8a8e04&#x27;, &#x27;aib_bronze.equity_ohlcv:8f41f732eabe794ea6a4ecc1632d1f94c38de63e17b7d299b890ccf0da221cad:f2fd46af2a7d9b6fd1ddbbaf59a74f472201d31cd0c45214e8b73246d20380c0&#x27;, &#x27;aib_bronze.equity_ohlcv:9f3e8ae3e6084f8bd5c750eb6549f4c9cc08859c5c228c2659ea2dbf3b05b7db:98b03be30bdd20671c57ba576950dd97d2decacf95c57697ecebc3975630fca9&#x27;, &#x27;aib_bronze.equity_ohlcv:f39e65f591d053d36e5ab928f62602467280e9f5f9619f84108009cf87cf9e93:5b3120eefde78560dacff077317608d9f7c3d2f5684ab4885d30945afd070d0d&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8523230088495576}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-09 16:42:22+00:00</li>\n<li>interpretation: Up 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.05717066365225065, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 0.05717066365225065, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-08&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-09 03:50:12.701000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b6e99a8bf470658fa92f2023438a6dcbdb6eda04988e369e58d8e2444b97d7cb:41969fd5941de761289f1d0a036f2c9980d0ce169e272fb63b6b45cc25b502bc&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-08&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:6bed9b73cf38d224d384763925e0b5d8ac6b0d417c5ca32114e94d85d7152b4f:cd5f8fdde8db66824b1c0fdd8272dd0d924de641b4ec79a4b4c6fb6a75f16142&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9e2ec2466f354369afa5ce1e8e96702cc0860f381df273bb0d70c111965bcf89:89af644c4fb5bd117730d18c439ce0ee4d5a26f4fde64ac8959b6fe09dfd2474&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c3fcd45dc1bb8fe5afdd4aea8d76604cb9c09f012019feaae40b7b49d09d8aff:3499f86bd0294757a9fe4f263f91db00c1b632bef27cc549d54ae482637085d1&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-08&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:681d6ff310805a8f93c12fc785cdb4ee9a35becf6f405a8c58e2e343140939ab:f31844a4376d9194b55b4bc4d73e57900d7598fa2fd05a78d30a588524b3e2c2&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:59a91f37992ef839d5d928024debc9c02067e1a1c1365d883abdf74aa117148f:03f0a5bbb342c591a8cb81fd8ecada0108a82cfa0db9e1d806f4d6bf318869ac&#x27;, &#x27;aib_bronze.equity_ohlcv:681d6ff310805a8f93c12fc785cdb4ee9a35becf6f405a8c58e2e343140939ab:f31844a4376d9194b55b4bc4d73e57900d7598fa2fd05a78d30a588524b3e2c2&#x27;, &#x27;aib_bronze.equity_ohlcv:6bed9b73cf38d224d384763925e0b5d8ac6b0d417c5ca32114e94d85d7152b4f:cd5f8fdde8db66824b1c0fdd8272dd0d924de641b4ec79a4b4c6fb6a75f16142&#x27;, &#x27;aib_bronze.equity_ohlcv:96510f2962d9daf2efe45d51900405ed39ccfae65c43e2d75f2395c9d5bb6a45:b9defb82b480d39844d7b0208ed048a0789d163dcc3d758d50913b2daad24c83&#x27;, &#x27;aib_bronze.equity_ohlcv:9e2ec2466f354369afa5ce1e8e96702cc0860f381df273bb0d70c111965bcf89:89af644c4fb5bd117730d18c439ce0ee4d5a26f4fde64ac8959b6fe09dfd2474&#x27;, &#x27;aib_bronze.equity_ohlcv:b6e99a8bf470658fa92f2023438a6dcbdb6eda04988e369e58d8e2444b97d7cb:41969fd5941de761289f1d0a036f2c9980d0ce169e272fb63b6b45cc25b502bc&#x27;, &#x27;aib_bronze.equity_ohlcv:c3fcd45dc1bb8fe5afdd4aea8d76604cb9c09f012019feaae40b7b49d09d8aff:3499f86bd0294757a9fe4f263f91db00c1b632bef27cc549d54ae482637085d1&#x27;, &#x27;aib_bronze.equity_ohlcv:d6afe930158ff35a1a244f8344f3f428e4c019e972e1b7f8091c5a3a7eeb88ab:5c29b8d8b113d9800de2af2c12e9cf852b4643e7c3b5a18eef6d1af9fd6ee118&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.37493637850031}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-08</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-08</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-08 / 2026-10-08 22:01:08+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,205B (conditional on an IPO), +19.53% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $29.; Probability-weighted bucket midpoint: $1,205B.; Seven-day implied-cap change: +19.53%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 19.53399880111548, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0305, &#x27;full_set_prob_sum&#x27;: 0.985, &#x27;implied_cap_change_7d_pct&#x27;: 19.53399880111548, &#x27;implied_cap_usd_b&#x27;: 1204.9180327868853, &#x27;ipo_by_2026_prob&#x27;: 0.0385, &#x27;no_ipo_by_2026_prob&#x27;: 0.9545, &#x27;volume_24h_total&#x27;: 28.990000000000002}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-08</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-08</td><td class=\"num\">129,574</td><td class=\"num\">24</td><td>—</td><td class=\"num\">9.579</td></tr>\n<tr><td>CISO</td><td>2026-10-08</td><td class=\"num\">845,867</td><td class=\"num\">24</td><td>—</td><td class=\"num\">36.27</td></tr>\n<tr><td>ERCO</td><td>2026-10-08</td><td class=\"num\">1,427,480</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-1.806</td></tr>\n<tr><td>PJM</td><td>2026-10-08</td><td class=\"num\">2,075,829</td><td class=\"num\">24</td><td>—</td><td class=\"num\">6.738</td></tr>\n<tr><td>SOCO</td><td>2026-10-08</td><td class=\"num\">599,228</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-4.554</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">61.32</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">61.89</td><td class=\"num\">0</td><td class=\"num\">0.5723</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">61.3</td><td class=\"num\">0</td><td class=\"num\">-0.01551</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">76.19</td><td class=\"num\">0</td><td class=\"num\">6.607</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">69.58</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.994</li>\n<li>as of: 2026-10-08</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.1174</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>407 benchmarked model identities; 251 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 6,315,729,116,683</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 1,878,733,567,947</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,717,262,594,156</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">5,042,092,012,639</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 1,818,754,071,650</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">3,981,028,194,695</td></tr>\n<tr><td>Claude Fable 5 (Max, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 346 eligible configurations.</p>\n<p>Usage window: 2026-09-09 → 2026-10-08. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-09 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;6d37040924acbbce5b565507b791302103d3e05112e0909caf447d976095bf60&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;243b9463ea9b7eac6f479ceaa80031b2ae43fc6f1abe9f7c3010ffd7e02dcedb&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;c628bd2af66a054575dc8b297a50fa1dfe922e8163aaa54b18237ca7d8578c48&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-09 16:41:09&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-09 16:41:17&quot;, &quot;record_count&quot;: 1816, &quot;records_hash&quot;: &quot;65399729694169a6927bd40c69e7537c7de0bbd2bb2e756b39967a856d7115de&quot;, &quot;snapshot_id&quot;: &quot;af9bc6bc98ecde945aeb840e198075aa5087a46f9e8ca736c4429e6cddd578fc&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;78071e801abe1a24187f805a29ae38eab8d621f8c59b52656e730e4186f1a42f&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;69a5c06668f8e8bc0658a7194ecb570733d0992847df6fe28c5943549b4106c2&quot;, &quot;51c289f4e93df2431dc914a383fd5730c86369361010f1fbb8f91c4f6dc616c1&quot;, &quot;b0b41e5c33494936b0579b078910a2624bafe0e65068a13273ae5b5961fde1d0&quot;, &quot;62f4da3b76683aadf677b3fd1302ca25858fa6305cce58538e2e233b486a5ae1&quot;, &quot;cd9501b2f508d53ce7cef96a0542d9b502522f76f116976d4b6eacb63177e3c2&quot;, &quot;b051300a9b919eb3570cfd7b277d53b11dcd970a1a93bcdedf1ff657cb0cdd13&quot;, &quot;12d1ac48bf1d1a0fb44551c1441358fc72d3e946d584406ff963c0fa25701b04&quot;, &quot;999f0e3a526db711ec7b2dcff96198b4a5140fff14cf948d4cb464d5d3fe7ab6&quot;, &quot;2f7bae24b89030dff5d8aa84d5a00f0e402f35a837506b747d41d38b1ed8d1fa&quot;, &quot;378b59481651d4d12e549cef4c328d64ed965c2f352570a68b051c6ed14c6765&quot;, &quot;2c8010e8e9105f9fd8ca4c26ac5b0f8e3ee86c89569a2d3b2d3a42773349050f&quot;, &quot;8bb9fcb0e4f2d9141c7097a78971d1536b342c49fb5ec77860fff8aa4777284f&quot;, &quot;bdc3ced7967fb8e2cbd0bf5b1c771a2d771a1d74505b62531262667a76b953df&quot;, &quot;7f37480835201aa5f03ddddb723ed18d4c63d8042eda7ea87c310365bd79baa6&quot;, &quot;36d2507b6b5c850a8426de729bc39d29e31b45fb25edfab3c381b215858e6c4e&quot;, &quot;accf54141a89e267727f7a76ba7efa8b17705dde57d8dceed2ab637b4e2ddfd8&quot;, &quot;f1092908740534f12f6a6a0a0ed7e56a6adc3966acd68856aaacfe970a5acefc&quot;, &quot;9d694e204728c23652ce2846153066f82c99e6e9667c1dd4e723b5baea7b6add&quot;, &quot;eb1c5c51b05c4bb939fa9cde4a977b81e581f667b42ce16f537e1a296cf11534&quot;, &quot;52d66c2fcb47190c16842269da5256bb13e4176f931a02673bd280b87da0d7f6&quot;, &quot;9b65c1b7cd9789b5e7020527dbcfe074f227f7c95db06fd0fce636d2af47893c&quot;, &quot;34ffd19dd831a41d9eb1de79f60b0768058f7aaf12feca7bbeb223cab7c302d2&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-09 16:41:19&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-09 16:41:21&quot;, &quot;record_count&quot;: 793, &quot;records_hash&quot;: &quot;e5227e34da70a81f95c4633f20c4b7baec30381ce74fb9b499d9238804577f15&quot;, &quot;snapshot_id&quot;: &quot;ca42d072920004e5b888747c9d8c7239d35fd2fb5399149cfbc2adc7f303fe88&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;338bbbe377047437d6a0305800a34284bb73c21d6fa32d6c7ad67661cc107d5a&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;12ff5bca2969b48db41df68fdb584da344fc3c88d17caed64fb62df3f9baf0da&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-09 16:41:09&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-09 16:41:17&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;1a13c9fb7e756f63593e92ec31541018f4d2cd0bb195a081546290b9cf04d1d7&quot;, &quot;snapshot_id&quot;: &quot;47bc9f4896c69945be9bf7b013c6035c7f42db53653c5f4688534196875d6e92&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;cac30ee00f1ae4bcdae03198aaa08dc901fc4203939593c6449ab968a3060a6f&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;462707d01493231ac23229a503c45d6c8b5483ee1097bcc2441e0e48ab9c046d&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-09 03:48:50&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-09 03:48:56&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;9bb8e3402deb59d371ca6ef75b8840f3cdadff6aca0e527139bb5dc657a453cf&quot;, &quot;snapshot_id&quot;: &quot;b85d7370f51f06fe4e1ba7ac0b3b961095a0803b681dad5dc61c5d82e851a34c&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-09 22:24:35</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-09 16:41:04</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">5</td><td>2026-10-09 16:43:01</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-09 05:30:01</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-09 16:41:04</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-09 16:41:04</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">31</td><td>2026-10-09 16:41:04</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-09 16:41:18</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">303</td><td>2026-10-09 22:58:14</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-09 23:46:10</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-09 16:43:01</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">138386</td><td>2026-10-09 16:41:04</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">151</td><td>2026-10-09 22:59:28</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-09 16:41:04</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-09 23:50:00</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791589805</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">458</td><td>2026-10-09 16:41:04</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">643</td><td>2026-10-09 16:41:04</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-09 16:41:04</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-09 16:41:04</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1816</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">793</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-09 16:41:04</td><td>—</td><td>—</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-09 16:41:47</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-09 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-09 16:41:05</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-09 16:41:04</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-10T05:10:08Z",
      "id": "urn:prexel:issue:7081b318-3a60-5623-bcce-2ff3308e6e6a",
      "summary": "Prexel daily — period ending 2026-10-09. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 39 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-09-daily-7533aea76e9a.html"
    },
    {
      "_prexel": {
        "content_hash": "a91124d065fdcf9e2aa60842ae9cd2bc650c882cd5af9c1d890ea2d79ae20397",
        "context_hash": "f959aa735f71eb037fec6c4c8144b3e2166f46df2a05395cf0368334735467ea",
        "kind": "daily",
        "period_end": "2026-10-08"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 38 (daily)</h1>\n<p>Period: 2026-10-08 → 2026-10-08</p>\n<p>Context hash: <code>f959aa735f71eb037fec6c4c8144b3e2166f46df2a05395cf0368334735467ea</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Implied OpenAI valuation: ▲ Bullish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>B200 vs H100 rental price: ◆ Mixed — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>GPU marketplace depth: ▲ Bullish — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Effective inference price: ▲ Bullish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Open-weights token share: ◆ Mixed — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-08T03:46:57.698574+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence revised; cause unclassified. Published 2026-10-08T15:00:26.820614+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-08T15:00:26.820614+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 15 bullish, 10 bearish, 7 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-07 21:55:53+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is inside its registered 14-day band.</li>\n<li>evidence: b200_h100_ratio=2.605573509550454; b200_h100_ratio_change_14d_pct=0.02386685038740193; b200_offered_usd_hr=7.502604166666668; band_measured_pct=2.3866850387401928; band_pct=5.0; h100_spot_usd_hr=2.8794444444444443</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.605573509550454, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.02386685038740193, &#x27;b200_offered_usd_hr&#x27;: 7.502604166666668, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.3866850387401928, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 2.3866850387401928, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8794444444444443}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-07 21:55:53+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-07 21:55:53+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.029411791930148458; h100_depth_smoothed_3d=26.4; h100_dispersion_smoothed_3d=2.3055827617645264; h100_price_change_14d_pct=0.0005937794432395105</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.029411791930148458, &#x27;h100_depth_smoothed_3d&#x27;: 26.4, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.3055827617645264, &#x27;h100_price_change_14d_pct&#x27;: 0.0005937794432395105}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-07</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-07</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-07 21:55:53+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=7.919215892228543; band_pct=8.0; h100_spot_usd_hr=2.8794444444444443; spot_trend_30d_pct=0.07919215892228543</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.919215892228543, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 7.919215892228543, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.8794444444444443, &#x27;spot_trend_30d_pct&#x27;: 0.07919215892228543}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:43:11+00:00</li>\n<li>interpretation: Up 16.2% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 16.18%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 16.180364524871372, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 16.180364524871372, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3107357937, &#x27;total_tokens&#x27;: 213204861913391}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:43:12+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.46pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.45878625460720457, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.67156033474497, &#x27;top10_share_change_14d_pp&#x27;: -0.45878625460720457}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:43:12+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 10 cuts, 9 raises.; Fixed-basket price at prior-day token weights: $0.747/Mtok.; Seven-day like-for-like change: -8.65%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.645589746856642, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 352, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7471389813971039, &#x27;like_for_like_change_7d_pct&#x27;: -8.645589746856642, &#x27;price_cut_model_count&#x27;: 10, &#x27;price_raise_model_count&#x27;: 9}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▲ Bullish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:43:12+00:00</li>\n<li>interpretation: The effective inference price is rising through its band — per-token seller economics are firming.</li>\n<li>evidence: Seven-day effective-price change: +22.93%.; Token-weighted effective price: $0.742/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 22.934899055069202, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 22.934899055069202, &#x27;effective_price_usd_mtok&#x27;: 0.7419762381338969, &#x27;matched_model_count&#x27;: 352, &#x27;total_standard_tokens&#x27;: 127581649585791, &#x27;unmatched_token_share&#x27;: 3.2207599450467037}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-07 03:40:53+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +152.1%.; Trailing three complete months: 150 new listings (50.0/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.1008403361345, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 152.1008403361345, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 150, &#x27;trailing_3mo_rate&#x27;: 50.0}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ◆ Mixed</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:43:12+00:00</li>\n<li>interpretation: The open-weights token share is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day share change: -1.79pp.; Open-weights share of routed standard tokens: 71.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -1.7881517312036834, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -2.303206813104481, &#x27;chinese_lab_token_share&#x27;: 68.89663516494265, &#x27;matched_model_count&#x27;: 352, &#x27;openweights_share_change_14d_pp&#x27;: -1.7881517312036834, &#x27;openweights_token_share&#x27;: 71.4100258387396}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-07</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:43:24+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $59.93/MWh vs prior 14-day $42.08/MWh (+42.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 42.42861245855389, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 59.926848154761906, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 42.075006643907564, &#x27;caiso_da_trend_pct&#x27;: 42.42861245855389}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:43:24+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 19.62 MMBtu/MWh vs prior 14-day 14.03 (+39.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 39.8917063028619, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 19.624544349352554, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.028383002825004, &#x27;caiso_heat_rate_trend_pct&#x27;: 39.8917063028619, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:43:24+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +0.18% vs control mean +16.12% (gap -15.95pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -15.94620360460609, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 34.116454955703354, &#x27;dc_load_premium_pp&#x27;: -15.94620360460609, &#x27;erco_load_yoy_7d_pct&#x27;: -1.86801358105667, &#x27;pjm_load_yoy_7d_pct&#x27;: 0.1780170827172503}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:43:17+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +14.14% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 14.14175977627953, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 75201.0, &#x27;nova_load_yoy_7d_pct&#x27;: 14.14175977627953, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-07</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Down 13.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -13.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.774903688115426, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -13.774903688115426, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;dd44d4dedb941934fb35785d021701b06125af687c4f4538938e32fc0d9f6fbe&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-07</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-07</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Down 2.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.340022498095906, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.340022498095906, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;1c7d0b1bd0bbdac08b648eefdb3ebc34fbb03e9e2b2c7e57a8b80024a82a982f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;183161bf5d05c88e525ee15f8f224fb48bc41a2e4725295b6e12c90efd3282c3&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;81cafff654a6e50dc2339763c61b6c1a0c090a083c4d167585e992bbf1aae9f8&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;839595fdbd3cade0757801a3e918f06a33f8e9704577a21dcd5339a3ac7ca1ad&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1f2f6048cc4712f5a21523506e7ea209475c8eaa819931e737bf6dbd5749197e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;31efb688648d2026e902401c042d26ffb06dad449cbfdb093968e018d864cac4&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;9edce02e56818364e6b941ace3eb527c2b3540a7755e6c74fc84bb1ff7395a32&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dc3df256374250afd044115d7ebb440319d3d8ad4b50b63668afd028e4e849f2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e2aab11e2aa33090ad6930f9387b2c816195da07314bf95dd69bf23ffab34b44&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;111793f5c7673fc2673e5647fa06ba9ea278e04874954bd7711ea8b1ee52a889&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;51bd5d0d21811e84fd74a8fbbc6470ec9ee93cb692ab1cbceb90bb6f06d3d97d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5318da1c0e6759b73da5a7be592119eda51ba0cbfab767c872a43aa65f18ea0b&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-08 14:59:21.124000+00:00&#x27;, 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&#x27;aib_bronze.equity_ohlcv:c00a591d325e7134bffa6265da37c5c0fee6ca2bae9d11065f823be1bf229b60:64beaa469ae61b1ec46ed16d0ea70d672c16f9bc5ddf404fa5795f055cfffed4&#x27;, &#x27;aib_bronze.equity_ohlcv:fd735f6234b0b87a47665563389bb58ea3858df3c68390cb9fce48fcdd319c5d:2eb87bbe45066dcee8bd45c3a119ecac4b51576508ce7908f3ded96776b7b4ad&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 111.24457467988822}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Up 2.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.14%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.139976360409057, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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15:44:24+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.49%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.492873077478308, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.492873077478308, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Up 7.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 7.60%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.601879452976834, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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10.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 10.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.153996248837238, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 10.153996248837238, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fd735f6234b0b87a47665563389bb58ea3858df3c68390cb9fce48fcdd319c5d:2eb87bbe45066dcee8bd45c3a119ecac4b51576508ce7908f3ded96776b7b4ad&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 143.63426262622627}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Down 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e82a037297e8e7dc2035d8d51e1862a1eb1b38849208cfa4945bf0b15700e527&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;8a2f81774ecce07c0a6f66fd84d0bac513d2fcc91795750f9bf376f8d5084aaa&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ed6ad87c800ee5a3ae16b34f4e59ea93631cc665206fe782685b639eae8f4d49&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;39797d6107b5a8bf10394182a22126e60413a4d3a1760d21b97c0fd3ee73e3e5&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-08 02:02:17.931000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:df2d4895244b67f9ee5bd11ff9dbc2aa7ab86a4238f91842eb9b380bf59701e6:f5d108cf69a7ea0b8ecb578ecde37248a125b8cf40244e4de0348985c1adb73b&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0507e5bf0225d1cab6f154f1d88378a36ac28d00a91bd05adf6f20fdb61d8fab:1f1eb6c64782c2ba995583e58ea48de0541eac49b2966a42fa6e9d958f8da864&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fe4e41c65fb10da5cfcd8364de73046fa3f78a013e197deabc6c04ba72392b46:6bc6dfc9b3adef4cc3854d62994ff1f17bb072aebfbed3d2f36acf02f554878c&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fa23cc5ee2ca5fa55f5b0cc89b17efd4a557a6ea1a7eb178179faf8a3d4fe812:b512cba7bd0a791e619d4636c5eb9e0a14db0647a70eb34949ecacca625c98cf&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0507e5bf0225d1cab6f154f1d88378a36ac28d00a91bd05adf6f20fdb61d8fab:1f1eb6c64782c2ba995583e58ea48de0541eac49b2966a42fa6e9d958f8da864&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:df2d4895244b67f9ee5bd11ff9dbc2aa7ab86a4238f91842eb9b380bf59701e6:f5d108cf69a7ea0b8ecb578ecde37248a125b8cf40244e4de0348985c1adb73b&#x27;, &#x27;aib_bronze.equity_ohlcv:fa23cc5ee2ca5fa55f5b0cc89b17efd4a557a6ea1a7eb178179faf8a3d4fe812:b512cba7bd0a791e619d4636c5eb9e0a14db0647a70eb34949ecacca625c98cf&#x27;, &#x27;aib_bronze.equity_ohlcv:fe4e41c65fb10da5cfcd8364de73046fa3f78a013e197deabc6c04ba72392b46:6bc6dfc9b3adef4cc3854d62994ff1f17bb072aebfbed3d2f36acf02f554878c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.68145463199777}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.739814145366724, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.739814145366724, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;518efdd6f473de5e32033ae9c780e2b0e351c5626d02033e86b33d27022f910b&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6a539e6c07dff01290b751659b31a20a73de4f11614aae966ccde2181f464431&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1b389ecfcbd2bf3f0022720934fedca626bc78f78252d1ad1a6dd2630e9cbc25&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;8debe14ceb57f734ef45b24daf8841312b5d0998de8c4f1bb71e2544e1898dc8&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2950184e3440c79eb1f07728d73fff536d482391a3fe870c683e67324a0d750c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;0dda46d9d9faddaf6effeaabc36db643e8a57de43098674e92d1b1c470babad7&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-08 02:02:17.931000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:13d93755d82c145d9594a9e1b5c93be6d0ea54aec0f11996f7eb791d321a3586:4fb3334a2f7a7012c693b302b1473d9243c9a96caa3f125d890e1b5a5f26398d&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e7b677146613beec8462c3e600c7c8bc609bcace3ffa1a2ae2e5dbd4ab89799:2f256f1f0cc4512e790c6f3ec01ed4229ed8ccf866dda1a926a770d0dd287bd1&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a7f870e572ae057d222b01996019e7555e4f0b58c7e0662e377231eb074c89ac:8b3cf14f0cfdeaa815cd2d72e7e96ad522344567ae96ac8abb05a4185536e568&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a11d9f75f6c35d0b3eb1275244f2f8352211fd84fa48bdb87037af5b8a7b0f91:8b3237863124aa9efa1082084a1028ecbf13718f375982ac1a6a567143c664e8&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:13d93755d82c145d9594a9e1b5c93be6d0ea54aec0f11996f7eb791d321a3586:4fb3334a2f7a7012c693b302b1473d9243c9a96caa3f125d890e1b5a5f26398d&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:6e7b677146613beec8462c3e600c7c8bc609bcace3ffa1a2ae2e5dbd4ab89799:2f256f1f0cc4512e790c6f3ec01ed4229ed8ccf866dda1a926a770d0dd287bd1&#x27;, &#x27;aib_bronze.equity_ohlcv:a11d9f75f6c35d0b3eb1275244f2f8352211fd84fa48bdb87037af5b8a7b0f91:8b3237863124aa9efa1082084a1028ecbf13718f375982ac1a6a567143c664e8&#x27;, &#x27;aib_bronze.equity_ohlcv:a7f870e572ae057d222b01996019e7555e4f0b58c7e0662e377231eb074c89ac:8b3cf14f0cfdeaa815cd2d72e7e96ad522344567ae96ac8abb05a4185536e568&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.82009361293423}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Down 4.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.5031730447893885, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -4.5031730447893885, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;9edce02e56818364e6b941ace3eb527c2b3540a7755e6c74fc84bb1ff7395a32&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dc3df256374250afd044115d7ebb440319d3d8ad4b50b63668afd028e4e849f2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e2aab11e2aa33090ad6930f9387b2c816195da07314bf95dd69bf23ffab34b44&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;125f474a5d2b0c579645939ec8116af572ad21abb51bcf17ba04924dde56f901&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;986249ba3401e2e146a507873b6fc3268bcf06b5f0efb0986785943f52b4b428&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;be5a8759a3435093f02eb29e762543a973806428da17438c47a86fc6ee29bdcb&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-08 14:59:21.124000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:496e0ac9a886d0872cdf8a00db486d02e7688b85c5fbd99486a8c3ac2e0b99f3:76ffa1d84d95873fee202a4df5e4cad5b432b2cb5e5708f3a307f11dafeb4ebe&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fd735f6234b0b87a47665563389bb58ea3858df3c68390cb9fce48fcdd319c5d:2eb87bbe45066dcee8bd45c3a119ecac4b51576508ce7908f3ded96776b7b4ad&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f150b10621a6d1eec5a02c915eb9e4f6cc50acc628f09ce6f4a73a34f4971550:108b527c78b1b03babe33c82e7899aac05206a0b2d846c45a4161df1e53df934&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:496e0ac9a886d0872cdf8a00db486d02e7688b85c5fbd99486a8c3ac2e0b99f3:76ffa1d84d95873fee202a4df5e4cad5b432b2cb5e5708f3a307f11dafeb4ebe&#x27;, &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;aib_bronze.equity_ohlcv:f150b10621a6d1eec5a02c915eb9e4f6cc50acc628f09ce6f4a73a34f4971550:108b527c78b1b03babe33c82e7899aac05206a0b2d846c45a4161df1e53df934&#x27;, &#x27;aib_bronze.equity_ohlcv:fd735f6234b0b87a47665563389bb58ea3858df3c68390cb9fce48fcdd319c5d:2eb87bbe45066dcee8bd45c3a119ecac4b51576508ce7908f3ded96776b7b4ad&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 95.7181012140096}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Up 4.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.35%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.345175311602478, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 4.345175311602478, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;9edce02e56818364e6b941ace3eb527c2b3540a7755e6c74fc84bb1ff7395a32&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dc3df256374250afd044115d7ebb440319d3d8ad4b50b63668afd028e4e849f2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e2aab11e2aa33090ad6930f9387b2c816195da07314bf95dd69bf23ffab34b44&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;0debc017cae44bfb4247ecdbc8541069b448caf790d9767f5f45a7000ba42886&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;35a60406c5630c818bdd80b1f5cf7d5126e6fcb09373a2b4c3e567120373c750&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;880bb4c314ab0fa81a56778aaae7a1302f045380973eca6812ef58acd258d1fd&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-08 14:59:21.124000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b3f39713e748ae3efca99a2d4c96e6f7f88ad5b4421a87d562d958727555eb6a:74fd36eded0c2bf9609bc019963caca3d77cf9a0cfb87fdad281e2086152c189&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fd735f6234b0b87a47665563389bb58ea3858df3c68390cb9fce48fcdd319c5d:2eb87bbe45066dcee8bd45c3a119ecac4b51576508ce7908f3ded96776b7b4ad&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:81b94e88b124b1006df28d1834e8fe8fdbc46804ca933632352d73006f581e08:6424a2307d4bba9a574a1f7546e8af08a40f5734437faf2eb5a9b4283e640068&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:81b94e88b124b1006df28d1834e8fe8fdbc46804ca933632352d73006f581e08:6424a2307d4bba9a574a1f7546e8af08a40f5734437faf2eb5a9b4283e640068&#x27;, &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;aib_bronze.equity_ohlcv:b3f39713e748ae3efca99a2d4c96e6f7f88ad5b4421a87d562d958727555eb6a:74fd36eded0c2bf9609bc019963caca3d77cf9a0cfb87fdad281e2086152c189&#x27;, &#x27;aib_bronze.equity_ohlcv:fd735f6234b0b87a47665563389bb58ea3858df3c68390cb9fce48fcdd319c5d:2eb87bbe45066dcee8bd45c3a119ecac4b51576508ce7908f3ded96776b7b4ad&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.25656001699863}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Down 4.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.80%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.803364686996225, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.803364686996225, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;9edce02e56818364e6b941ace3eb527c2b3540a7755e6c74fc84bb1ff7395a32&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dc3df256374250afd044115d7ebb440319d3d8ad4b50b63668afd028e4e849f2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 537, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e2aab11e2aa33090ad6930f9387b2c816195da07314bf95dd69bf23ffab34b44&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;d8c3d7dd21b6ef533128d5157b531f3500c4e7f1f1d5d1adefd852cbcb3c23aa&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fb1ad381835f736da6679a12643e23e5d84bddfa3bc94823a3c6fe0dd32cd56c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f534ecdb42cc2f097ed2185390ecc1e7e6adead830ed73bba84a7c725f40f4ef&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-08 14:59:21.124000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:456534cf29d04135c38cc1c04ffea8a34aac249f53705e115d55bab32223af76:860d19f360b24599d1b1b11282e4332d58629bbfdaeab7e21249d4e372960f73&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fd735f6234b0b87a47665563389bb58ea3858df3c68390cb9fce48fcdd319c5d:2eb87bbe45066dcee8bd45c3a119ecac4b51576508ce7908f3ded96776b7b4ad&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6ff80f932e6219965dcef30b0645b50cd3beb18cd9b71b85755cd2b8434950b8:df27d00f011f0fa1d401db877ee7c0428c1bfc119d54fb13212a33474708ce7e&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:456534cf29d04135c38cc1c04ffea8a34aac249f53705e115d55bab32223af76:860d19f360b24599d1b1b11282e4332d58629bbfdaeab7e21249d4e372960f73&#x27;, &#x27;aib_bronze.equity_ohlcv:6ff80f932e6219965dcef30b0645b50cd3beb18cd9b71b85755cd2b8434950b8:df27d00f011f0fa1d401db877ee7c0428c1bfc119d54fb13212a33474708ce7e&#x27;, &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:fd735f6234b0b87a47665563389bb58ea3858df3c68390cb9fce48fcdd319c5d:2eb87bbe45066dcee8bd45c3a119ecac4b51576508ce7908f3ded96776b7b4ad&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 88.13974313499745}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.851.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 179, &#x27;epoch_values_hash&#x27;: &#x27;446a9fecbbfabf6263937ea6c5cf0dc05befcc5bfcac086c01a46c0d15895a8f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6a20adf84ae652376547419068bfc6e1749d3ee59acc0168025da1406002eb35&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 556, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ef689573ddf32dc9bc47955ac96da8374feec4fea6705e43210a3d85aff12896&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 178, &#x27;epoch_values_hash&#x27;: &#x27;cd45b7c8ab75a2b5bcd966c1ae2385fb2a3848889cf1ef77bca32fb766f694a6&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8c5abc876b2cb20b1f618f0c38b23a77253826b47b89482bc5e98e765ab07a2c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;642fffa50e304cd2d289b4db3bfb2747c9b6d63a83e5df0f374ca5a53069dc44&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-08 02:02:17.931000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bd5508425c4fe285fa027b80570d58583b424152458e9829679ea55fd5e7c557:bb9f1a4062a45b293ab064bd4f101154cfc87a98d089d8e2651a81036d93c698&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9c8fff2c9e8445b1c65b6a0228430a85e04a0758edfb9258d834c91d3a010881:49152040600ed6d4c3ab465ff8875e68598729cbf8bf3a2ff8d9078ea40b09c6&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5c1f5ae64204c1620b2b7d93fb45244ffc8b19c8d1794f60e37c0cac9b26516a:87d32c3fa1acccf80e8c43caa2d4dfc51e8a578ed49717120b67af8d0a55cfd7&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e8032b30362c9b73b0bcb41adcef93b06b380d15f4e46d4de7f426b4a2a2eaf4:7f0bad088f1f8ae8d971d3abac3f7cca49ad0b3fad2bd662c9a798f28c26c213&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:5c1f5ae64204c1620b2b7d93fb45244ffc8b19c8d1794f60e37c0cac9b26516a:87d32c3fa1acccf80e8c43caa2d4dfc51e8a578ed49717120b67af8d0a55cfd7&#x27;, &#x27;aib_bronze.equity_ohlcv:9c8fff2c9e8445b1c65b6a0228430a85e04a0758edfb9258d834c91d3a010881:49152040600ed6d4c3ab465ff8875e68598729cbf8bf3a2ff8d9078ea40b09c6&#x27;, &#x27;aib_bronze.equity_ohlcv:bd5508425c4fe285fa027b80570d58583b424152458e9829679ea55fd5e7c557:bb9f1a4062a45b293ab064bd4f101154cfc87a98d089d8e2651a81036d93c698&#x27;, &#x27;aib_bronze.equity_ohlcv:e8032b30362c9b73b0bcb41adcef93b06b380d15f4e46d4de7f426b4a2a2eaf4:7f0bad088f1f8ae8d971d3abac3f7cca49ad0b3fad2bd662c9a798f28c26c213&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8510158013544019}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-08 15:44:24+00:00</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.99%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.993939958913583, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -2.993939958913583, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;a33696628e415d18f3eaab306787def0c6677f13c04dac305de9dd5041017c99&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2644b5ca1e538b25df5b3b8914f2df71b4ee4a7dea03d87df25f82bb6fbd72b0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c3d94c1c5412fbbb2733e58d683e4edc1936a91eedfd4d6f7786fe4f1138c256&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;2857c608432e3d70e7352194cd4ebc1dc4fa4acb5a661a54b0d24748d1d3f249&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;0dda46d9d9faddaf6effeaabc36db643e8a57de43098674e92d1b1c470babad7&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;f53780c1ca3d08fd1184323e285811fa0d842068ffb24b540174ac58c30cd682&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;52f3cf1c8f0c617e9654dda6062d28d208ac88330a46726c5b52fb47827463e2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-08&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 536, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b62217ea5b3d6e095816337f956d2ae2c55ff6fe55c2f0d5dfccacf75ffe5752&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-08 02:02:17.931000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4d002ad2c6345c1145eab248988c9a6ed3f9057ef63d4156b42ca78e7f13dca8:6b5bd7d6b3ee7e012131c43b1a7d291e486515cb8fc2a73af59c640d0e465ea4&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b789a05ceb8dcd6723335207543c49bed93d40e3bc1b51764c7c189dfeb3902c:e44afd50d8253f46ed8dd7cd371594eb789fc4a85dcd9eddf6e6f8cfb74de2d3&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0f65b27642a8d9318c1427ed77b6dbb9b87d497aa76c4d0b6748cc062db3bd71:904d4adf910729df35cbb2ea87edd265a3cec551243af108753c48c4166fd3e5&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a11d9f75f6c35d0b3eb1275244f2f8352211fd84fa48bdb87037af5b8a7b0f91:8b3237863124aa9efa1082084a1028ecbf13718f375982ac1a6a567143c664e8&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-07&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e29823443eb067b8a4158a9d6c236ed6775f5bbcc74510bbc079dbcb9f16cd43:43f70896fcb224b049f2bdf0ca1a835a387b0e6739e1416bdca19d34c7ef1878&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:0f65b27642a8d9318c1427ed77b6dbb9b87d497aa76c4d0b6748cc062db3bd71:904d4adf910729df35cbb2ea87edd265a3cec551243af108753c48c4166fd3e5&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:340b655667d52dfe26e20eac288bc267368b667a8d29d20fc17f29ce0b6327bf:933da8b91a51c92afc97d250cebc603308ceef64e78462790be04e9e02dd00f8&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:4d002ad2c6345c1145eab248988c9a6ed3f9057ef63d4156b42ca78e7f13dca8:6b5bd7d6b3ee7e012131c43b1a7d291e486515cb8fc2a73af59c640d0e465ea4&#x27;, &#x27;aib_bronze.equity_ohlcv:6e7b677146613beec8462c3e600c7c8bc609bcace3ffa1a2ae2e5dbd4ab89799:2f256f1f0cc4512e790c6f3ec01ed4229ed8ccf866dda1a926a770d0dd287bd1&#x27;, &#x27;aib_bronze.equity_ohlcv:a11d9f75f6c35d0b3eb1275244f2f8352211fd84fa48bdb87037af5b8a7b0f91:8b3237863124aa9efa1082084a1028ecbf13718f375982ac1a6a567143c664e8&#x27;, &#x27;aib_bronze.equity_ohlcv:b39855fc663f39b529caaa4482f5cd20b3806482d3ebad0de797e5218ec9e539:cd83ce70349b884dc74079f2daf250eab4be531270a2d1fc232fa8d61cd22a62&#x27;, &#x27;aib_bronze.equity_ohlcv:b789a05ceb8dcd6723335207543c49bed93d40e3bc1b51764c7c189dfeb3902c:e44afd50d8253f46ed8dd7cd371594eb789fc4a85dcd9eddf6e6f8cfb74de2d3&#x27;, &#x27;aib_bronze.equity_ohlcv:e29823443eb067b8a4158a9d6c236ed6775f5bbcc74510bbc079dbcb9f16cd43:43f70896fcb224b049f2bdf0ca1a835a387b0e6739e1416bdca19d34c7ef1878&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 104.75572576554755}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-07</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-07</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-07 / 2026-10-07 22:47:44+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,101B (conditional on an IPO), +9.72% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $1,813.; Probability-weighted bucket midpoint: $1,101B.; Seven-day implied-cap change: +9.72%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.722950741500181, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0335, &#x27;full_set_prob_sum&#x27;: 0.9874999999999999, &#x27;implied_cap_change_7d_pct&#x27;: 9.722950741500181, &#x27;implied_cap_usd_b&#x27;: 1100.7462686567164, &#x27;ipo_by_2026_prob&#x27;: 0.037, &#x27;no_ipo_by_2026_prob&#x27;: 0.954, &#x27;volume_24h_total&#x27;: 1813.45}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-07</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-07</td><td class=\"num\">124,295</td><td class=\"num\">24</td><td>—</td><td class=\"num\">15.5</td></tr>\n<tr><td>CISO</td><td>2026-10-07</td><td class=\"num\">874,114</td><td class=\"num\">24</td><td>—</td><td class=\"num\">36.2</td></tr>\n<tr><td>ERCO</td><td>2026-10-07</td><td class=\"num\">1,409,784</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-3.508</td></tr>\n<tr><td>PJM</td><td>2026-10-07</td><td class=\"num\">2,048,552</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-2.924</td></tr>\n<tr><td>SOCO</td><td>2026-10-07</td><td class=\"num\">625,760</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-8.393</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">69.68</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">75.33</td><td class=\"num\">0</td><td class=\"num\">5.656</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">69.4</td><td class=\"num\">0</td><td class=\"num\">-0.2712</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">67.83</td><td class=\"num\">0</td><td class=\"num\">5.705</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">62.13</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.879</li>\n<li>as of: 2026-10-07</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.07919</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>404 benchmarked model identities; 251 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 5,497,413,975,257</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 1,631,807,588,527</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,772,675,249,109</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">5,081,968,590,014</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 1,506,767,399,341</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">4,084,968,652,224</td></tr>\n<tr><td>Claude Fable 5 (Max, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 346 eligible configurations.</p>\n<p>Usage window: 2026-09-08 → 2026-10-07. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-08 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;78cf26733bfb3e536c4c0b129ee385ba59fd5ce3f84eff2257196c784f7afef9&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;2d68188674d3daa17902764951dc5f1217c9ef3bd8e10b6f6b8d3cf8923d3191&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;df701bbc50afe2255582b11805164532b4847b3e16f939e338d07ec5c40df2a2&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-08 15:32:02&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-08 15:32:05&quot;, &quot;record_count&quot;: 1810, &quot;records_hash&quot;: &quot;adb6066ed84e456b08d5bf7bf15a3d3fb29eed12a017fbd58d67c654bfbe8972&quot;, &quot;snapshot_id&quot;: &quot;87dc08c07f1e9058696ea083de5688ee79e82125cf2f617937a0eb0b55165dcb&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;5e8d1e3ca16b19baa0d31d1e7749093860e73f5506de7a11aadd05278346552d&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;3a10350c61cfbe46a64d38879a97e88ce3a89593af796039f876a61980516e73&quot;, &quot;9967632760464f3daba0542abfe72c8270d2c2a83a20089b4894aa35659d02d4&quot;, &quot;c1ceaa475dcca0d036217d0e59b37933e2710f1a9fcc048035ac63ea55e2d757&quot;, &quot;e02e765720c6a33a5fca811b4fe55b3f33e34ab860e8e620c07863d2c87a900c&quot;, &quot;cc347cfa18041f3ff34498d1630e007e8057cd7added0ab2f548d50dd62c35f0&quot;, &quot;c3addd2384bb86d92eafefad1bfe2af1bc113d2f76fab23978dc91a28e87c48c&quot;, &quot;c1d4d36a277191db59202edf8d88f3c928fce2abd35ae55222b23de59066ba72&quot;, &quot;b79c6c3b3c5b5f30f71a54c604df88c0992fc5d10f449dce439a43a0e59792a5&quot;, &quot;bf0b2c1c564e15ffcf2b2e7e17b534cd3fa0b27c87a3c310edd915793b8b40ed&quot;, &quot;2f0c067cf48aad4ef440887c51c25134d697d4d5437e875b464b03fd26026e14&quot;, &quot;52d201fcb310469dc890caecda6ff59b39acee01f1ccd8235b3ff46fdfa13faf&quot;, &quot;c8c93253bb3306fa80f5e3f2a474de63f840a70c9c470f14c2b9693bf2f46ffb&quot;, &quot;4bc57f0b3b25ac892bee7d284cc8239b6b6ce4b18f5f08d7219f3d0e4c7e9cc5&quot;, &quot;40256dba77fc41d70edc9a57042ce660ced44ec3069d7bc2b4f215fbda733e8d&quot;, &quot;16d7c0384a5d65caed2147d48930f21ada3d51226c45890bd98fa4f857ead9e7&quot;, &quot;829488feabe43af50d0caabea15e30fafac3359babe69f30acc47ddf5e3a6090&quot;, &quot;ced0aa776e62ad0da122c6716e2029d91969376e65c570219679a66c64c87ada&quot;, &quot;21c41af65dc649d4c2578c345e1385d97d75a32a6ad64c29dc4b0c31f6b75c31&quot;, &quot;dcb6354e7bdfe1b06cc7a58b782e4db6057731f605dadc701af5deecfb243662&quot;, &quot;d6b169baa5297bb06de5eb2b8273ff0d96c35b761a7189eda782d49ad13f9fed&quot;, &quot;48b0e842d7cab4c28a77c590752307c00243496525afcadb17b4f65a57563616&quot;, &quot;9375c698a659acb4560c51ee7ec2dbd9cc7198e72bd6140e1b58418a855df435&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-08 15:43:22&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-08 15:43:23&quot;, &quot;record_count&quot;: 802, &quot;records_hash&quot;: &quot;0ce59f99cad9e900506927c14fc61e9aed53e9c43a21f8e4d0ce09a4a5c77037&quot;, &quot;snapshot_id&quot;: &quot;fd42accad2810de93e7f18ebf34d4acd3c03e775ac94e389542ada4774cc3b0f&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;619397c8675e257a6113f035eb53f479fc4069324ce76aead7f8ca509e8c73a0&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;0082587873e92a373b0ee8e40ce3ec5a7c7b3954b7ceb31d8c6210cc1682fb53&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-08 15:43:14&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-08 15:43:19&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;6cf870f7862127882d48250913e3869db30926d8552ffcce2de2072af0e4ca68&quot;, &quot;snapshot_id&quot;: &quot;2f556249af3ef1191fea0c9cd65fbf7c912e7bf71914e50506faddef06577a68&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;e05cb8699121a731f250703e32b80f64b2b1950c5e021849f3a48929078a42ca&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;eb9377d2b004ddca2d5d10d309d0afdb8d8360b954ec2accfb6cd5db57f5ac4a&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-08 01:41:45&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-08 01:41:45&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;834e17b89612c9ef7971890d6d1004f4a81831fb6cd3ea3c7ac139ef298836df&quot;, &quot;snapshot_id&quot;: &quot;36b44ec3c2efa138d250999a55777998a14358c84f894e8391f49f9126ed27b3&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-08 22:01:08</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-08 15:43:08</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">105</td><td>2026-10-08 15:45:00</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-08 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-08 15:43:08</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-08 15:43:08</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:08</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:19</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">285</td><td>2026-10-08 23:47:40</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-08 23:37:33</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-08 15:45:00</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">138133</td><td>2026-10-08 15:43:08</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">154</td><td>2026-10-08 21:57:55</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-08 23:36:39</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791502605</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">468</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">641</td><td>2026-10-08 15:43:08</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-08 15:43:08</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-08 15:43:08</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">802</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-10-08 15:43:08</td><td>—</td><td>APIError</td></tr>\n<tr><td>power_demand_monthly</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:24</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-08 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-08 15:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-08 15:43:08</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine, policy_events</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-09T05:10:10Z",
      "id": "urn:prexel:issue:b6c7e782-332f-5d50-b4da-d7d3a83835f3",
      "summary": "Prexel daily — period ending 2026-10-08. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 38 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-08-daily-a91124d065fd.html"
    },
    {
      "_prexel": {
        "content_hash": "d079a9bc16a9c63d9ee082f129a915790d2ff68c938b6fda79f4c08d8c9859bc",
        "context_hash": "d764ddfa2d2fa2a9f4d180cb564839ce0b80cc33f62286285b5133d34dddbe1c",
        "kind": "daily",
        "period_end": "2026-10-07"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 37 (daily)</h1>\n<p>Period: 2026-10-07 → 2026-10-07</p>\n<p>Context hash: <code>d764ddfa2d2fa2a9f4d180cb564839ce0b80cc33f62286285b5133d34dddbe1c</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Implied OpenAI valuation: ▲ Bullish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ◆ Mixed — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>B200 vs H100 rental price: ▼ Bearish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>GPU marketplace depth: ▼ Bearish — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Effective inference price: ▲ Bullish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Open-weights token share: ▲ Bullish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-07T03:43:36.350207+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 16 bullish, 9 bearish, 7 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-06 20:40:31+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.3418389645920192; b200_h100_ratio_change_14d_pct=-0.050060625022082694; b200_offered_usd_hr=6.252083333333333; band_measured_pct=-5.00606250220827; band_pct=5.0; h100_spot_usd_hr=2.669732388888889</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.3418389645920192, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.050060625022082694, &#x27;b200_offered_usd_hr&#x27;: 6.252083333333333, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.00606250220827, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: -5.00606250220827, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.669732388888889}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-06 20:40:31+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▼ Bearish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-06 20:40:31+00:00</li>\n<li>interpretation: Listed H100 supply is growing while offered prices fall — lessor pricing power is weakening.</li>\n<li>evidence: h100_depth_change_14d_pct=0.1580882028106184; h100_depth_smoothed_3d=31.5; h100_dispersion_smoothed_3d=2.237030029296875; h100_price_change_14d_pct=-0.04500829927088075</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.1580882028106184, &#x27;h100_depth_smoothed_3d&#x27;: 31.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.237030029296875, &#x27;h100_price_change_14d_pct&#x27;: -0.04500829927088075}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-06 20:40:31+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=-4.728028367976253; band_pct=8.0; h100_spot_usd_hr=2.669732388888889; spot_trend_30d_pct=-0.04728028367976253</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.728028367976253, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -4.728028367976253, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.669732388888889, &#x27;spot_trend_30d_pct&#x27;: -0.04728028367976253}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:40:52+00:00</li>\n<li>interpretation: Up 17.7% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 17.68%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 17.675637311816693, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 17.675637311816693, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3095646521, &#x27;total_tokens&#x27;: 210694401036497}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:40:53+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.51pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.8%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.5123094605357892, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.75440530522073, &#x27;top10_share_change_14d_pp&#x27;: -0.5123094605357892}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:40:53+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 13 cuts, 12 raises.; Fixed-basket price at prior-day token weights: $0.672/Mtok.; Seven-day like-for-like change: -15.89%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -15.88904602071598, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 350, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6715761976538295, &#x27;like_for_like_change_7d_pct&#x27;: -15.88904602071598, &#x27;price_cut_model_count&#x27;: 13, &#x27;price_raise_model_count&#x27;: 12}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▲ Bullish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:40:53+00:00</li>\n<li>interpretation: The effective inference price is rising through its band — per-token seller economics are firming.</li>\n<li>evidence: Seven-day effective-price change: +11.57%.; Token-weighted effective price: $0.685/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.573593221997204, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 11.573593221997204, &#x27;effective_price_usd_mtok&#x27;: 0.6850341143160332, &#x27;matched_model_count&#x27;: 350, &#x27;total_standard_tokens&#x27;: 122014677199315, &#x27;unmatched_token_share&#x27;: 3.3522471140037267}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-06 09:21:41+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +152.1%.; Trailing three complete months: 150 new listings (50.0/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.1008403361345, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 152.1008403361345, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 150, &#x27;trailing_3mo_rate&#x27;: 50.0}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▲ Bullish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:40:53+00:00</li>\n<li>interpretation: The open-weights token share is falling through its band — substitution pressure on closed-model pricing power is easing.</li>\n<li>evidence: Fourteen-day share change: -2.70pp.; Open-weights share of routed standard tokens: 70.6%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -2.6979262727841586, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -3.8499419582720975, &#x27;chinese_lab_token_share&#x27;: 67.94618485651695, &#x27;matched_model_count&#x27;: 350, &#x27;openweights_share_change_14d_pp&#x27;: -2.6979262727841586, &#x27;openweights_token_share&#x27;: 70.60777384984537}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:41:02+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $56.55/MWh vs prior 14-day $41.92/MWh (+34.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 34.92268772245368, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 56.5536344187675, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 41.915585416666666, &#x27;caiso_da_trend_pct&#x27;: 34.92268772245368}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:41:02+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 16.12 MMBtu/MWh vs prior 14-day 14.05 (+14.7%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 14.73614149860574, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 16.117976290233074, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.047863279792216, &#x27;caiso_heat_rate_trend_pct&#x27;: 14.73614149860574, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:41:02+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +0.95% vs control mean +15.53% (gap -14.58pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -14.583428316651275, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 30.147159135146786, &#x27;dc_load_premium_pp&#x27;: -14.583428316651275, &#x27;erco_load_yoy_7d_pct&#x27;: 0.9147717195878596, &#x27;pjm_load_yoy_7d_pct&#x27;: 0.9475371107160477}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:40:54+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +18.50% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 18.501665485377735, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 18.501665485377735, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Down 10.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -10.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.255573589169398, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -10.255573589169398, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;f369ddd99af6697008ed75a167d355e54367ea32cb38a2209d273a3ce9dba973&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-06</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Down 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.1458487604925072, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -1.1458487604925072, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;76068a9f3003a0ee207d1ae308056b863c55aa8220ac72ea3b5ff9ac5711a987&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;809be1660b3e6004cd7f1e0dcdb3df5b3d1d0658793dbcb18a6a73ec52a843ee&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3b5c7ae16d1abd138ec87d5b2975dc140cd521510e4129aaa246e72ea0aca5eb&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;301de3cc7f5d9e7d28d11b58b80f9e2e1ec84768242c735caf7eee3af512e70a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;972ef45f9585d0bc2c82c174961f82026aeee9c24a3e271ae63ce898f31e322a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1fa66a3b0d0dbcac533328222dc0efad6adeb799e5d6ecac72ea5f2421e68b51&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;c90346e17bc06e909e4c9e314da3badcd9bcbe5f91a59ec845fa3e6dbec0492c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;17167a22ea0eee76912c3c4bd3d9b0b348a39cc357b78c50597311efbf94f8bb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3a06c2d621dd4a0ab7d2c9e777d3b26b24617a9afcedf89940bb4acaf5362d09&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;03af1a77369136b0675647f7be18e6ab3bfc9f001c43aa51aef999414cf3b2ee&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1cd8a974c7ce19a4ada94c75cb1f68b17d1a603bfecddeddc5e1b1c744d2ea8f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8b027155f98bea52dd494991cd2cebedc1342a8c5e2db5866f715e72126e7079&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-07 03:42:40.612000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:599d9ce114c5fd165b9d1ebfc3bca4ef3bbd8700e47bad20ffd7fbcdd8f6b59c:e795a1a16fabf8779993e457dba3b63fe672fa468d20ccc983abe76242b9b90e&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c00a591d325e7134bffa6265da37c5c0fee6ca2bae9d11065f823be1bf229b60:64beaa469ae61b1ec46ed16d0ea70d672c16f9bc5ddf404fa5795f055cfffed4&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b7f95bc9ec7c100c14247926601482e64112d20b5aeaac07299954b29ef6234f:437272b354f05e6bc77566ba9809aa92843d6cd6902fdd3ef95af786fc5b8459&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ee45f4b58ae74412e996ed2606f42aaecca377c6614b0e673e51d65a35b0832b:b18a74906a683a5b3cedb20c41fef3f118a991f86e2f80d2d1e568891ef47f73&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fee1eb4a993f6a29c15d42014a0d8aaf1c1f21b349a7ac13e796dc34e51db36f:3f1c235180e64d86ec84ec1108fa1eef2be3279a52f13f9b3812d1addbcca6d4&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:ee45f4b58ae74412e996ed2606f42aaecca377c6614b0e673e51d65a35b0832b:b18a74906a683a5b3cedb20c41fef3f118a991f86e2f80d2d1e568891ef47f73&#x27;, &#x27;aib_bronze.equity_ohlcv:fee1eb4a993f6a29c15d42014a0d8aaf1c1f21b349a7ac13e796dc34e51db36f:3f1c235180e64d86ec84ec1108fa1eef2be3279a52f13f9b3812d1addbcca6d4&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 112.60485913757195}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Up 2.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.08%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.0759601697123653, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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03:42:32+00:00</li>\n<li>interpretation: Up 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.52%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.5190863506034944, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 2.5190863506034944, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;0310b53106755d6a26f052730b32c7c2f4d86c214ea1ed404b5910c902c437bf&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5a965957f0cf98d6cf82225b7679bafcc7bfbfa12e96a5d3360af3ef80e6b4f6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c5c91e468e71720b257052fcc6fdc0b650c1cd67f0c2a4a669fd542de503721b&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;02a04c69994ab89d0fa2fe37ab096ab5d503cddafec7009db572c7094d027fe2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;d6f381fc667bfe5ba11617c339dad496734e5fe0d2a49902acaef0c84505fe9a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-07&#x27;, &#x27;row_count&#x27;: 383, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e233fb70b129cef5cea536e2299874065feadfdb7ca9f4e9251fc8bd9faf1176&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;c90346e17bc06e909e4c9e314da3badcd9bcbe5f91a59ec845fa3e6dbec0492c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;17167a22ea0eee76912c3c4bd3d9b0b348a39cc357b78c50597311efbf94f8bb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3a06c2d621dd4a0ab7d2c9e777d3b26b24617a9afcedf89940bb4acaf5362d09&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;08b249848b49ac416d6a21c7faa626580eddc338c1c26e9c05459d02c6a46e44&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cf52c4d55ba6e95b2966779f652d3c06853c04ac922872385a294cc22207c7a1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;93cce0758fc22b448473d348f4baebeeeaa3225bab9eba16420fa8603b446481&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;62ecb839b22849684e53d7dc06fe2c529282942863a54b9682da6dfac1d552d2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;b0b4d0b8f7fdd53991c8d81b9ee8c57dd13069a27e6a1689709725431337dae7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-07&#x27;, &#x27;row_count&#x27;: 491, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e857248a267e49ec87719db36eb2692fde22fa2a29a71230a8936fdd3637c1a0&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-07 03:42:40.612000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3c9fc0f2877996bbc4acfd48dff977c65d6ff5fc9a6a079aa62c0f0e91d43c1b:516e3e5d25620b920ea9c6758927f2309dfae7c175467dd81af542ef0d77babf&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0ff7b3a37517657823a8bf8119f6a84ee62596425ecbd7041a06ab27e35eb76e:2f0dd76d5457c8f94eeb354c88d706ef969838b1e0f9041f876f73c44298d866&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Up 8.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.35%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.352161513629586, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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11.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 11.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.188107591276397, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 11.188107591276397, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:ef61fc99268e446006fcf1d6946140dff96124aad9d3e0073560d440423a436a:356cab12340384267c634bc81c4df854139053855d446a91d0c4460837234e8b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 144.98268234047003}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Down 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:54671c732f5cac087063813190e2a29b72147b59a15359f0dee021e031add140:59c68de3fca2464a1cc7a87c99f50ca1c3faed33e75ecf4e6d1d09f219744e5f&#x27;, &#x27;aib_bronze.equity_ohlcv:df2d4895244b67f9ee5bd11ff9dbc2aa7ab86a4238f91842eb9b380bf59701e6:f5d108cf69a7ea0b8ecb578ecde37248a125b8cf40244e4de0348985c1adb73b&#x27;, &#x27;aib_bronze.equity_ohlcv:ffe1ffb058184b2388c87aaa89c43d3463f1b114889d081e7fbc8862d62d815b:6ff5fd0a9205fec8ed3b3935dd534f12c402a63729f3803d0d63d4c89a9649f9&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.68012841800949}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Up 0.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.82%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-07 03:42:40.612000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:13d93755d82c145d9594a9e1b5c93be6d0ea54aec0f11996f7eb791d321a3586:4fb3334a2f7a7012c693b302b1473d9243c9a96caa3f125d890e1b5a5f26398d&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e7b677146613beec8462c3e600c7c8bc609bcace3ffa1a2ae2e5dbd4ab89799:2f256f1f0cc4512e790c6f3ec01ed4229ed8ccf866dda1a926a770d0dd287bd1&#x27;, 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&#x27;aib_bronze.equity_ohlcv:6e7b677146613beec8462c3e600c7c8bc609bcace3ffa1a2ae2e5dbd4ab89799:2f256f1f0cc4512e790c6f3ec01ed4229ed8ccf866dda1a926a770d0dd287bd1&#x27;, &#x27;aib_bronze.equity_ohlcv:828878187b4c305b4f066a24a88d182d2b9264369e0e1cbd792312c377784cd4:3e1c208e8c2f1fe2cb4ba2be237ed4226bf58aa845629b1bfb5f30aa32a4f3a8&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.90045339623639}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Down 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.93%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.9300133907091084, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -3.9300133907091084, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;c90346e17bc06e909e4c9e314da3badcd9bcbe5f91a59ec845fa3e6dbec0492c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;17167a22ea0eee76912c3c4bd3d9b0b348a39cc357b78c50597311efbf94f8bb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3a06c2d621dd4a0ab7d2c9e777d3b26b24617a9afcedf89940bb4acaf5362d09&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;aac6177bc9744dff5876ef25bceda8c59511d0ae6dc6ebe04425bc2cf5b02855&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;983eb35318d6c2920978659ea5e65d7075782771fa46ac8a8a1b66b7403a9ba2&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7ae3550ca0bebbb2bbcd5d53e658c5786808a7cb8a738ada1e8633007a6ae7d7&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-07 03:42:40.612000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:496e0ac9a886d0872cdf8a00db486d02e7688b85c5fbd99486a8c3ac2e0b99f3:76ffa1d84d95873fee202a4df5e4cad5b432b2cb5e5708f3a307f11dafeb4ebe&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:091743ba144e2c1f5210dd4ff0e785d892d6bb19b6f441399a947cbec92b44c6:d726adb55457a53a101345129b585e4deec63e9045a06290ecc15915b378025b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0ab3dd9b6b388090d97096f09d9f25c7541399ee4c87fbd39374fe1262059cb1:9a99a0b3b921e8bb2d2592227cb7217ae9da8740b32daf1896e6decb8747f365&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:091743ba144e2c1f5210dd4ff0e785d892d6bb19b6f441399a947cbec92b44c6:d726adb55457a53a101345129b585e4deec63e9045a06290ecc15915b378025b&#x27;, &#x27;aib_bronze.equity_ohlcv:0ab3dd9b6b388090d97096f09d9f25c7541399ee4c87fbd39374fe1262059cb1:9a99a0b3b921e8bb2d2592227cb7217ae9da8740b32daf1896e6decb8747f365&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:496e0ac9a886d0872cdf8a00db486d02e7688b85c5fbd99486a8c3ac2e0b99f3:76ffa1d84d95873fee202a4df5e4cad5b432b2cb5e5708f3a307f11dafeb4ebe&#x27;, &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.29258892768802}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Up 4.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.33%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.332034439113075, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 4.332034439113075, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;c90346e17bc06e909e4c9e314da3badcd9bcbe5f91a59ec845fa3e6dbec0492c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;17167a22ea0eee76912c3c4bd3d9b0b348a39cc357b78c50597311efbf94f8bb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3a06c2d621dd4a0ab7d2c9e777d3b26b24617a9afcedf89940bb4acaf5362d09&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;43a58c9aace22009866dfbdf48058c9499b5bfc85a3ed0e9becf68c6bb33ffa5&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e9c81a9ef6aed5bf5b5b92e7226862ec0049b65413ba0e8b3895afdd0e3c7ed1&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6807991c08dc4e7cf8c48bcac35dc094cd15ba750610d2dc35ceaff2d88ad881&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-07 03:42:40.612000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b3f39713e748ae3efca99a2d4c96e6f7f88ad5b4421a87d562d958727555eb6a:74fd36eded0c2bf9609bc019963caca3d77cf9a0cfb87fdad281e2086152c189&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:091743ba144e2c1f5210dd4ff0e785d892d6bb19b6f441399a947cbec92b44c6:d726adb55457a53a101345129b585e4deec63e9045a06290ecc15915b378025b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e16719b821c8ccc5c659833599ed6ee1482f104a95cb7107eec017271ec4c526:f46d7fbfdf4ce85bccaacfffc3cccb50f5246360d715f528effe22a3814fcc4f&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:091743ba144e2c1f5210dd4ff0e785d892d6bb19b6f441399a947cbec92b44c6:d726adb55457a53a101345129b585e4deec63e9045a06290ecc15915b378025b&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;aib_bronze.equity_ohlcv:b3f39713e748ae3efca99a2d4c96e6f7f88ad5b4421a87d562d958727555eb6a:74fd36eded0c2bf9609bc019963caca3d77cf9a0cfb87fdad281e2086152c189&#x27;, &#x27;aib_bronze.equity_ohlcv:e16719b821c8ccc5c659833599ed6ee1482f104a95cb7107eec017271ec4c526:f46d7fbfdf4ce85bccaacfffc3cccb50f5246360d715f528effe22a3814fcc4f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.24292655817243}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Down 5.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.99%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.9892118266330225, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.9892118266330225, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;c90346e17bc06e909e4c9e314da3badcd9bcbe5f91a59ec845fa3e6dbec0492c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;17167a22ea0eee76912c3c4bd3d9b0b348a39cc357b78c50597311efbf94f8bb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3a06c2d621dd4a0ab7d2c9e777d3b26b24617a9afcedf89940bb4acaf5362d09&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;7e92aaf3d38c9cad5beb3dc184125294eb4bb84c0f5aa5b6d66a9747eb53a31e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;67c14153f7ea69cbb058499579706a9801bfdf0463dec84ad7af520e4df17db3&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 535, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;caa8b5682a94bd5a6536acb9e37b9c2f0b5b52b2e60dd5759c505f0c2c5a4495&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-07 03:42:40.612000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:456534cf29d04135c38cc1c04ffea8a34aac249f53705e115d55bab32223af76:860d19f360b24599d1b1b11282e4332d58629bbfdaeab7e21249d4e372960f73&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:091743ba144e2c1f5210dd4ff0e785d892d6bb19b6f441399a947cbec92b44c6:d726adb55457a53a101345129b585e4deec63e9045a06290ecc15915b378025b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2ad004cf5ca7a727a1d70fa6b22aac181204024d15134ffbcd8043bf241fd515:1c6fea2d8cb23092599e24e6dab5eaf8cc7d977cc7d3030bf7e4a2c443b9f1ef&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:091743ba144e2c1f5210dd4ff0e785d892d6bb19b6f441399a947cbec92b44c6:d726adb55457a53a101345129b585e4deec63e9045a06290ecc15915b378025b&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2ad004cf5ca7a727a1d70fa6b22aac181204024d15134ffbcd8043bf241fd515:1c6fea2d8cb23092599e24e6dab5eaf8cc7d977cc7d3030bf7e4a2c443b9f1ef&#x27;, &#x27;aib_bronze.equity_ohlcv:456534cf29d04135c38cc1c04ffea8a34aac249f53705e115d55bab32223af76:860d19f360b24599d1b1b11282e4332d58629bbfdaeab7e21249d4e372960f73&#x27;, &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 87.9676727766691}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.851.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;6fc144aa4d14b767bfa86893b052e39551a3ad71f8822957cee910ce0ec4d34f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;197edca42177ff196562bcb850366c9f98bed462cc4da9f76f28b46dd0773527&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;4fb0cb6e6bb17c4baf8121d3c77b90157297f2626e3c93d665ca4c3e33ca667d&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 176, &#x27;epoch_values_hash&#x27;: &#x27;206bedfcd7d1ae5d0a4c503b95c8a10a8fb3f4848606781d17264deb3e746b36&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7db5218477dcdf9b64ea2c360672c3a98353582d50e57e0d33d06e2206f404c7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-07&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 546, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e2c568ee78ad871468377454ea01a22e66231f236172719e66ad4ae8673b4002&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:9c8fff2c9e8445b1c65b6a0228430a85e04a0758edfb9258d834c91d3a010881:49152040600ed6d4c3ab465ff8875e68598729cbf8bf3a2ff8d9078ea40b09c6&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bcbe473720f8aea64a8c4e4af0a23259d1a4a15f352eafc2252d9b56b6669df:ad6d5dbfe17aa74b26433bdac259816e03fc98ba1a5b806c52b6a776f26f70f1&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:466a94ea08fc59d54570b19dac0ed71642b99b1108c0c47cf6de98eac5ef30c3:5647942859198b9d86b60205e886c406abdee54ab26604ee42d31f4ba7a5dd0e&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:3bcbe473720f8aea64a8c4e4af0a23259d1a4a15f352eafc2252d9b56b6669df:ad6d5dbfe17aa74b26433bdac259816e03fc98ba1a5b806c52b6a776f26f70f1&#x27;, &#x27;aib_bronze.equity_ohlcv:466a94ea08fc59d54570b19dac0ed71642b99b1108c0c47cf6de98eac5ef30c3:5647942859198b9d86b60205e886c406abdee54ab26604ee42d31f4ba7a5dd0e&#x27;, &#x27;aib_bronze.equity_ohlcv:9c8fff2c9e8445b1c65b6a0228430a85e04a0758edfb9258d834c91d3a010881:49152040600ed6d4c3ab465ff8875e68598729cbf8bf3a2ff8d9078ea40b09c6&#x27;, &#x27;aib_bronze.equity_ohlcv:bd5508425c4fe285fa027b80570d58583b424152458e9829679ea55fd5e7c557:bb9f1a4062a45b293ab064bd4f101154cfc87a98d089d8e2651a81036d93c698&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.850907029478458}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-07 03:42:32+00:00</li>\n<li>interpretation: Down 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.62%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.620004388737629, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -2.620004388737629, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-07 03:42:40.612000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4d002ad2c6345c1145eab248988c9a6ed3f9057ef63d4156b42ca78e7f13dca8:6b5bd7d6b3ee7e012131c43b1a7d291e486515cb8fc2a73af59c640d0e465ea4&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:d449e51268a7dd4e4e47115d3ffbbc15d4f9b8603610c48ffb7b00c0cbad2f56:a9d0e62dba1b79bd855565383f1d2521ad724ab7dbc50bd765cee086aa193177&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8f8e9d6cd98e0a7d13e07cc654ba75695ce934d7a0dc9aebb521623a11fa05dd:ca20512967aad2dc6160625f89224b3657032658a46b2848257cfe870d2a397b&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:828878187b4c305b4f066a24a88d182d2b9264369e0e1cbd792312c377784cd4:3e1c208e8c2f1fe2cb4ba2be237ed4226bf58aa845629b1bfb5f30aa32a4f3a8&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-06&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:19e21fa536de0533d5b2c8936b234b250a03bd6104c107b708c7d97b61640f3c:6c9d72a22afadc5706101f8e9387f6fd8df2b0f8ce0703746ad1a3723a750119&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:19e21fa536de0533d5b2c8936b234b250a03bd6104c107b708c7d97b61640f3c:6c9d72a22afadc5706101f8e9387f6fd8df2b0f8ce0703746ad1a3723a750119&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:340b655667d52dfe26e20eac288bc267368b667a8d29d20fc17f29ce0b6327bf:933da8b91a51c92afc97d250cebc603308ceef64e78462790be04e9e02dd00f8&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:4d002ad2c6345c1145eab248988c9a6ed3f9057ef63d4156b42ca78e7f13dca8:6b5bd7d6b3ee7e012131c43b1a7d291e486515cb8fc2a73af59c640d0e465ea4&#x27;, &#x27;aib_bronze.equity_ohlcv:6e7b677146613beec8462c3e600c7c8bc609bcace3ffa1a2ae2e5dbd4ab89799:2f256f1f0cc4512e790c6f3ec01ed4229ed8ccf866dda1a926a770d0dd287bd1&#x27;, &#x27;aib_bronze.equity_ohlcv:828878187b4c305b4f066a24a88d182d2b9264369e0e1cbd792312c377784cd4:3e1c208e8c2f1fe2cb4ba2be237ed4226bf58aa845629b1bfb5f30aa32a4f3a8&#x27;, &#x27;aib_bronze.equity_ohlcv:8f8e9d6cd98e0a7d13e07cc654ba75695ce934d7a0dc9aebb521623a11fa05dd:ca20512967aad2dc6160625f89224b3657032658a46b2848257cfe870d2a397b&#x27;, &#x27;aib_bronze.equity_ohlcv:b39855fc663f39b529caaa4482f5cd20b3806482d3ebad0de797e5218ec9e539:cd83ce70349b884dc74079f2daf250eab4be531270a2d1fc232fa8d61cd22a62&#x27;, &#x27;aib_bronze.equity_ohlcv:d449e51268a7dd4e4e47115d3ffbbc15d4f9b8603610c48ffb7b00c0cbad2f56:a9d0e62dba1b79bd855565383f1d2521ad724ab7dbc50bd765cee086aa193177&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.15953447633062}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-06 / 2026-10-06 21:53:29+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,135B (conditional on an IPO), +15.09% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $138.; Probability-weighted bucket midpoint: $1,135B.; Seven-day implied-cap change: +15.09%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 15.085248332097855, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.038, &#x27;full_set_prob_sum&#x27;: 0.99, &#x27;implied_cap_change_7d_pct&#x27;: 15.085248332097855, &#x27;implied_cap_usd_b&#x27;: 1134.8684210526317, &#x27;ipo_by_2026_prob&#x27;: 0.038, &#x27;no_ipo_by_2026_prob&#x27;: 0.952, &#x27;volume_24h_total&#x27;: 138.460589}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-06</td><td class=\"num\">141,632</td><td class=\"num\">24</td><td>—</td><td class=\"num\">35.51</td></tr>\n<tr><td>CISO</td><td>2026-10-06</td><td class=\"num\">889,322</td><td class=\"num\">24</td><td>—</td><td class=\"num\">40.14</td></tr>\n<tr><td>ERCO</td><td>2026-10-06</td><td class=\"num\">1,394,651</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-5.338</td></tr>\n<tr><td>PJM</td><td>2026-10-06</td><td class=\"num\">2,019,668</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-8.614</td></tr>\n<tr><td>SOCO</td><td>2026-10-06</td><td class=\"num\">636,992</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-3.281</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">76</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">79.47</td><td class=\"num\">0</td><td class=\"num\">3.472</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">74.4</td><td class=\"num\">0</td><td class=\"num\">-1.594</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">59.52</td><td class=\"num\">0</td><td class=\"num\">2.134</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">57.38</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.67</li>\n<li>as of: 2026-10-06</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.04728</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>402 benchmarked model identities; 249 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 4,614,393,449,026</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 1,288,517,779,670</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,764,788,357,541</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">5,082,497,730,019</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 1,161,142,540,053</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">4,314,423,921,943</td></tr>\n<tr><td>Claude Fable 5 (Max, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 345 eligible configurations.</p>\n<p>Usage window: 2026-09-07 → 2026-10-06. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-07 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;7359e339d2825d332b7b585ecdd935d55bafb0498e4c73afd55dd10da1fdbc3d&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;fac46e72ba70ee5b1b232a53833dbb9def191dff48497940c168069bbbf1e1d4&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;7719071d2459f0141982f02b59e969922ef634288b390e6cf5feb895f99b9268&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-07 03:40:57&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-07 03:41:00&quot;, &quot;record_count&quot;: 1794, &quot;records_hash&quot;: &quot;cbd0c9e3114992daebd1ddff83292c73962d3e6a4cdb854d6e51239ddcc5088f&quot;, &quot;snapshot_id&quot;: &quot;7ec286316c5afa2a9b028510fdf76005a973e64a9916539dc89b9df7207a2c03&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;4ecb871d5968951003c74fc2e45221d3a4a95b748ab43c85f2e4e57e2bb5b4f1&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;2456371536806eae6abbf5ac234b6865954830b7689e8ff718fa52729e005c1d&quot;, &quot;9386b0e6509986e0e101fdb591ced5eb4bedba041643bb3ddde4e8954a505c06&quot;, &quot;c894c9ee41538605539333cd37f71b1e1e4b13e182eb20732b2480b29ab5ba1e&quot;, &quot;8ae914fcaed8704cffa368fa6ca4b215673b3bc7104903fbfad9e95eae18d834&quot;, &quot;2e8c040a5ec46b1fa85d3bfb6aa89f39a803921eeb25fef9c5f8bce0682db13a&quot;, &quot;5b5a7e5581a411973ddbc4739b6212683faf5c90ffae185c44cb88964cabbe18&quot;, &quot;445feb571a44502118b922ae91404e2d8f0faf509f8d80818214cfd58038ca5b&quot;, &quot;002216842d4839a915c29312328323fec2a9ea7cc8086a0426ef791acee5da73&quot;, &quot;b7d2efe409819ca931fba045d69fd2e982c4a256b3a416c10f1d45dd5dc6a730&quot;, &quot;a83e1fd83f453777241604389710844848a904220869874cf176524b39506f60&quot;, &quot;b3ba84be18817d18613d06d4d4bc9e4bda73ae0b208f0c1c1adce51b11941979&quot;, &quot;274e1df9103f7b177dfa1d05cad3ed671937139c5fb4413c401a8d2e08f5082e&quot;, &quot;a45c5da69ef207919eeaa28a84d894a0e5fc5aad5df1af0beeaea0521178fd8b&quot;, &quot;2767727337bd5b0fc9a8600a42ec92a47b4a2919834b565cd21d142fcf8b86c0&quot;, &quot;bfeaee4ec02ba492f929f824993367fbccfabd8064612439b988d1974565c4dd&quot;, &quot;1dabe4b353571edfe0113d11ae213043ba4f7d046a1a204b380c99c31edaa3c0&quot;, &quot;40ed8865daa3e1c9cc39ea62c4aef05b5a8dfdabf052f185607e2fe04bf35d6d&quot;, &quot;e26fef5457f007ef1e89742632aa23ef96480e2601d9adb5be4fc21e7a78a052&quot;, &quot;5fdf191b6bdf82d78d97adf7e553fe1024982674395605ebe6e1a84ba9d06087&quot;, &quot;fad65a3548f21363610ba2df16d26c7c1f1defe47e1d704d5c63c1197dda83dd&quot;, &quot;311e78c47501bc7978a1dfbaaf1375edfd1d688e4d76de8c5c6cb1045fbcdc60&quot;, &quot;2c87687a57a00bf9197ef6b7e4831f78c37d49faa51b5088e3a3c62e7eba3867&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-07 03:41:12&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-07 03:41:15&quot;, &quot;record_count&quot;: 794, &quot;records_hash&quot;: &quot;7a1743b331a0b22d28b3eb539bcadc9927c8167c38bcad5464b0112fce6a6ec7&quot;, &quot;snapshot_id&quot;: &quot;a634a545cef72fe11e5ac8cda465d39ac2ea53ee194dca53e97cbfae42000053&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;5065d88acd26781541feb3774010850114a810309eef239e913cebdd8ad19472&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;a813d7cff7aaf3dd57ca5167203d5742414591954663ebe564d3d222fd64aeec&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-07 03:40:58&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-07 03:41:01&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;deac4b7a98ac82ab88c8a6d9b8ba857b02ba76316e4521c96b4cec5e7de87f94&quot;, &quot;snapshot_id&quot;: &quot;8ef3fe73f5adcc42b209c43b3a4d1a5d182f2fb68e99665c8d9d10918a4233b0&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;793d5b1179c483a0725d059cf38dcb9169d53cbef0f985aaea9448a8685db684&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;0438f058dfed0516c46915849bfcb709b3393445f054886dab676d567249ee81&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-07 03:40:53&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-07 03:40:59&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;96667d117609599946d4a4dc6cd1a8b0798f86b99fa0230f370e4c4b2810af3b&quot;, &quot;snapshot_id&quot;: &quot;68cde47c06f8b3998995f5a91503178b9367111b9931695c50ef28e0dd4144be&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-07 22:47:44</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">125</td><td>2026-10-07 03:43:09</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-07 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-07 03:40:50</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-07 03:40:50</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-07 03:41:00</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">280</td><td>2026-10-07 23:50:43</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-07 23:16:19</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-07 03:43:09</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">137851</td><td>2026-10-07 03:40:50</td><td>—</td><td>partial: 6669.TW: Price snapshot omits 2 previously retained dates; MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FORE</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">207</td><td>2026-10-07 21:55:52</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-07 23:03:00</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791414186</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">465</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">629</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1794</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">794</td><td>2026-10-07 03:40:51</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-07 03:40:51</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-07 05:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">100688</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-07 03:40:50</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-08T05:10:09Z",
      "id": "urn:prexel:issue:30f1819d-9a76-5394-a85e-959506ef6b61",
      "summary": "Prexel daily — period ending 2026-10-07. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 37 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-07-daily-d079a9bc16a9.html"
    },
    {
      "_prexel": {
        "content_hash": "cf6e3f6a650e6f729891b32eb26156dd2187824e78c9a28d55ca533e992ea33e",
        "context_hash": "cd03bc3aebb50bed901780bf430e3e807faf3ba445b8e9594ec0d9bde787962d",
        "kind": "daily",
        "period_end": "2026-10-06"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 36 (daily)</h1>\n<p>Period: 2026-10-06 → 2026-10-06</p>\n<p>Context hash: <code>cd03bc3aebb50bed901780bf430e3e807faf3ba445b8e9594ec0d9bde787962d</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Implied OpenAI valuation: ▲ Bullish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>AI power names vs S&amp;P 500: ◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>GPU marketplace depth: ▼ Bearish — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Open-weights token share: ▲ Bullish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>BDCs vs investment-grade credit: ▼ Bearish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-06T03:40:49.407027+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-06T09:25:06.733311+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-06T09:25:06.733311+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-06T09:25:06.733311+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-06T09:25:06.733311+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence revised; cause unclassified. Published 2026-10-06T09:25:06.733311+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence revised; cause unclassified. Published 2026-10-06T09:25:06.733311+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-10-06T09:25:06.733311+00:00.</li>\n<li>Open-weights token share: ▲ Bullish — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-10-06T09:25:06.733311+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 13 bullish, 11 bearish, 8 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>compute_market</td><td>2026-10-06 03:40:47+00:00</td><td>Token demand and listed H100 depth are no longer in the tightening scissors.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-05 19:53:54+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.8591999347905257; b200_h100_ratio_change_14d_pct=0.20296769991492014; b200_offered_usd_hr=7.502604166666668; band_measured_pct=20.296769991492013; band_pct=5.0; h100_spot_usd_hr=2.624022222222222</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.8591999347905257, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.20296769991492014, &#x27;b200_offered_usd_hr&#x27;: 7.502604166666668, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 20.296769991492013, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 20.296769991492013, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.624022222222222}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-05 19:53:54+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▼ Bearish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-05 19:53:54+00:00</li>\n<li>interpretation: Listed H100 supply is growing while offered prices fall — lessor pricing power is weakening.</li>\n<li>evidence: h100_depth_change_14d_pct=0.3834585980944727; h100_depth_smoothed_3d=36.79999923706055; h100_dispersion_smoothed_3d=2.1766626834869385; h100_price_change_14d_pct=-0.06223983822326994</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.3834585980944727, &#x27;h100_depth_smoothed_3d&#x27;: 36.79999923706055, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1766626834869385, &#x27;h100_price_change_14d_pct&#x27;: -0.06223983822326994}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-05 19:53:54+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=-6.802684065539938; band_pct=8.0; h100_spot_usd_hr=2.624022222222222; spot_trend_30d_pct=-0.06802684065539938</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.802684065539938, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -6.802684065539938, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.624022222222222, &#x27;spot_trend_30d_pct&#x27;: -0.06802684065539938}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:21:39+00:00</li>\n<li>interpretation: Up 18.7% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 18.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 18.735552457891846, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 18.735552457891846, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 3012718318, &#x27;total_tokens&#x27;: 207517663159688}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:21:41+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.65pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.8%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.6462551399530554, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.76310768193014, &#x27;top10_share_change_14d_pp&#x27;: -0.6462551399530554}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:21:41+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 8 cuts, 11 raises.; Fixed-basket price at prior-day token weights: $0.524/Mtok.; Seven-day like-for-like change: -12.51%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -12.514995751179036, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 351, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.5239554661926349, &#x27;like_for_like_change_7d_pct&#x27;: -12.514995751179036, &#x27;price_cut_model_count&#x27;: 8, &#x27;price_raise_model_count&#x27;: 11}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:21:41+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -18.29%.; Token-weighted effective price: $0.519/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -18.294058333807918, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -18.294058333807918, &#x27;effective_price_usd_mtok&#x27;: 0.5193627982851421, &#x27;matched_model_count&#x27;: 351, &#x27;total_standard_tokens&#x27;: 158538999810517, &#x27;unmatched_token_share&#x27;: 2.496437466734573}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-05 03:37:08+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +152.1%.; Trailing three complete months: 150 new listings (50.0/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.1008403361345, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 152.1008403361345, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 150, &#x27;trailing_3mo_rate&#x27;: 50.0}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▲ Bullish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:21:41+00:00</li>\n<li>interpretation: The open-weights token share is falling through its band — substitution pressure on closed-model pricing power is easing.</li>\n<li>evidence: Fourteen-day share change: -20.52pp.; Open-weights share of routed standard tokens: 52.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -20.52058433013096, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -20.400432206007736, &#x27;chinese_lab_token_share&#x27;: 51.276133346798304, &#x27;matched_model_count&#x27;: 351, &#x27;openweights_share_change_14d_pp&#x27;: -20.52058433013096, &#x27;openweights_token_share&#x27;: 52.85644665356891}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:22:01+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $52.27/MWh vs prior 14-day $41.46/MWh (+26.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 26.052413747836145, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 52.265317752100835, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 41.46316297969188, &#x27;caiso_da_trend_pct&#x27;: 26.052413747836145}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:22:01+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.84 MMBtu/MWh vs prior 14-day 13.97 (+13.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 13.408174299038258, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 15.84148653116907, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 13.968557936042368, &#x27;caiso_heat_rate_trend_pct&#x27;: 13.408174299038258, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:22:01+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +1.43% vs control mean +14.36% (gap -12.94pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -12.935736188201306, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 24.820068879678292, &#x27;dc_load_premium_pp&#x27;: -12.935736188201306, &#x27;erco_load_yoy_7d_pct&#x27;: 3.9080966212105777, &#x27;pjm_load_yoy_7d_pct&#x27;: 1.42834656224313}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:21:42+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +17.59% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 17.586031815655197, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 17.586031815655197, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Down 15.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -15.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -15.54531675739913, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -15.54531675739913, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;d47256ae951c42e8b0326487d18de8341c153332b74d308e5d8f44153ecc1794&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-05</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Down 3.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.3893961892330626, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -3.3893961892330626, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;a36d72a59aa36e71abd6ef6ff6d892e32b77cb36e113c689dc2ba75d3336c447&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;86d97c0f3f8f510c197dea99ce99a8fe4a523646380b9b5e8d46b98526aff9ad&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;97912b9adf30f0cb1cef1caa7169fb1f6f09069218b0e37d891b26016107d1cd&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;6cdf00b0714267f270e4bee74b02f9459f0cefc5a1a0eb87e65535910147d213&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;82774bb94b984c61f49a6a171feb72cbe69106e4aa1a208534fec765fe47a53d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;99ecef681ca6d6058dd0a0254fd086d8670e480dea317df021927e7b2e69fec6&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;e0be25d963117c6dff5b0b069918c5c31f563a63ecf10ed065da64e9d55dcc07&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;628571d8b1ef72507d8161275d139d3118aeb472d74117d9003c675370c80590&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;59e20252b1a6803ab0cf7f5c38bc252d8b09216f2025760dc77bcb931d51b9d0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;34e65888b3410a47069ecfda35f82d41b96d570bbe226bdbaacc8ffffbc5d3d9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;c16df1b8cbaf35365bcc9d4a28f21185fd728b37569e8d0b2c2a1896931690aa&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c5dbbb51e2e6b83ff4a2c3d7a91f1684f2e859695594d7cd40c81f742e995a63&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-06 03:07:16.600000+00:00&#x27;, 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&#x27;aib_bronze.equity_ohlcv:c00a591d325e7134bffa6265da37c5c0fee6ca2bae9d11065f823be1bf229b60:64beaa469ae61b1ec46ed16d0ea70d672c16f9bc5ddf404fa5795f055cfffed4&#x27;, &#x27;aib_bronze.equity_ohlcv:e037f4b0204a4609608f7a3222b189c21a469379c13246f6dff8d25954338134:b6349900483721345647bb7d7951c4cf7176c26f88f2a6dbca639c03259fe8e5&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.04923209496349}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.82%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.8203757270180532, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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09:23:52+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.231699206474269, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.231699206474269, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Listed cohorts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Up 1.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.49%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.4875292985350619, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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11.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 11.45%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.450009207549016, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 11.450009207549016, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:ae9779e991c224353513bb71ac5e7104a25836b22a25db2ddb25b2b4a86402d3:db35a15090344a9fc1ce7ee7ab8be701cb20b052204c3d74103a54b1017ce116&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 145.32418647844935}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Up 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2f4425818c4994178287a14a6b11da32edb67544f0a3ec5419d71318fed70a5a&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;fbbbe7fd2b8288d49485f7d9068ff7d0aca5629820df3ef448f7f539e8fad700&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;749ae9841a076f0b4f66d26ee907adf3b255a06dd4410ad1e2d49a1ace8e81b0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a315b2ffc63ab65ab19084fc909c31eefa439701b95fe16302c9def294dcd96c&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-06 03:07:16.600000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:df2d4895244b67f9ee5bd11ff9dbc2aa7ab86a4238f91842eb9b380bf59701e6:f5d108cf69a7ea0b8ecb578ecde37248a125b8cf40244e4de0348985c1adb73b&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0507e5bf0225d1cab6f154f1d88378a36ac28d00a91bd05adf6f20fdb61d8fab:1f1eb6c64782c2ba995583e58ea48de0541eac49b2966a42fa6e9d958f8da864&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8ebe311d3098c11180646994ea4321cfe2941436dfc5fc8d880f3ee142db9ca5:40592c9a290262324641a649ae4c9095f8ecce76d3803303d1c16616c4ebc487&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:141d9f9d1b3223d661a6d8175ec693e40fc447bcf370d0257bfe6d7d9408c170:0c5342bac1104d9c81aa771a8aad584a53bf0d1e2e7ccfcb4f37475973551ca5&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0507e5bf0225d1cab6f154f1d88378a36ac28d00a91bd05adf6f20fdb61d8fab:1f1eb6c64782c2ba995583e58ea48de0541eac49b2966a42fa6e9d958f8da864&#x27;, &#x27;aib_bronze.equity_ohlcv:141d9f9d1b3223d661a6d8175ec693e40fc447bcf370d0257bfe6d7d9408c170:0c5342bac1104d9c81aa771a8aad584a53bf0d1e2e7ccfcb4f37475973551ca5&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:8ebe311d3098c11180646994ea4321cfe2941436dfc5fc8d880f3ee142db9ca5:40592c9a290262324641a649ae4c9095f8ecce76d3803303d1c16616c4ebc487&#x27;, &#x27;aib_bronze.equity_ohlcv:df2d4895244b67f9ee5bd11ff9dbc2aa7ab86a4238f91842eb9b380bf59701e6:f5d108cf69a7ea0b8ecb578ecde37248a125b8cf40244e4de0348985c1adb73b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.76307883081135}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Up 0.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.75%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.7451797646149672, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.7451797646149672, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;a553309406857accb0af015e9976a158337fb6a0262ab5ab416588a3120112cd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;00052942242b4abf50bf6b11c0ec13d5d896b6c941075f99e8fb914955787d21&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;57be04e31a3dbb48c023961a4fa0b98b0d94da1aad55a7b216d441531329e431&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;ed9dea4e0882fa97148ae779dc8e100485e2ff01529911a2a2c636dc845fa676&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f0b889e6f45d0cb1d654c1272660502282ab2a75544797eb2d3c8e2c26d5c6e0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f9f780ef551ed9fafb053f3a39e9469e3ab5fe02f26ef5b78b7ad749eb07e4a1&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-06 03:07:16.600000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:13d93755d82c145d9594a9e1b5c93be6d0ea54aec0f11996f7eb791d321a3586:4fb3334a2f7a7012c693b302b1473d9243c9a96caa3f125d890e1b5a5f26398d&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e7b677146613beec8462c3e600c7c8bc609bcace3ffa1a2ae2e5dbd4ab89799:2f256f1f0cc4512e790c6f3ec01ed4229ed8ccf866dda1a926a770d0dd287bd1&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2814cb0fd1ede0e628ba3852f85f1d874a80870b737f6026679d2f0f3be8d9b8:d798f3bfcfbc58e307f7e69517be4b44a79248c04173d6950bdec17404059e08&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ea71c84fa96a6017e922913339cba052a13328d54814538e2811d94596254582:d146e5bd4b6555bd7734686d429bb1aaeb3c4f2047412842b71576d94ce73e6b&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:13d93755d82c145d9594a9e1b5c93be6d0ea54aec0f11996f7eb791d321a3586:4fb3334a2f7a7012c693b302b1473d9243c9a96caa3f125d890e1b5a5f26398d&#x27;, &#x27;aib_bronze.equity_ohlcv:2814cb0fd1ede0e628ba3852f85f1d874a80870b737f6026679d2f0f3be8d9b8:d798f3bfcfbc58e307f7e69517be4b44a79248c04173d6950bdec17404059e08&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:6e7b677146613beec8462c3e600c7c8bc609bcace3ffa1a2ae2e5dbd4ab89799:2f256f1f0cc4512e790c6f3ec01ed4229ed8ccf866dda1a926a770d0dd287bd1&#x27;, &#x27;aib_bronze.equity_ohlcv:ea71c84fa96a6017e922913339cba052a13328d54814538e2811d94596254582:d146e5bd4b6555bd7734686d429bb1aaeb3c4f2047412842b71576d94ce73e6b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.82562329449429}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Down 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.92%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.9247928213359984, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -3.9247928213359984, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;e0be25d963117c6dff5b0b069918c5c31f563a63ecf10ed065da64e9d55dcc07&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;628571d8b1ef72507d8161275d139d3118aeb472d74117d9003c675370c80590&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;59e20252b1a6803ab0cf7f5c38bc252d8b09216f2025760dc77bcb931d51b9d0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;b2283ceaaf14dcb8064ca0ac1724a59e656c4ac896eae7d8279e0c897955b5be&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e77f4731de12f1cc727011f63b5e2b3b085ab47e39420233e68c72d7544da8b0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f820a7e065d0aaddceaaecd29971f804a0ce1343a833b61613bf0ebbdd8bd4e8&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-06 03:07:16.600000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:496e0ac9a886d0872cdf8a00db486d02e7688b85c5fbd99486a8c3ac2e0b99f3:76ffa1d84d95873fee202a4df5e4cad5b432b2cb5e5708f3a307f11dafeb4ebe&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8be0b63ddf1d24f8f480bcc3033ff19ee648d8b3221ecd76021fdd3ad7bab2fe:17eb0fce68dabb95f4c55f3a08f6065b07c790396faab998eafc37c220c4cf84&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a37e2854153cb4c2f3272f0c64e94e9529bda9479bd07452fac7fde4b1687d81:f982973eee73ec39b63142ff838ea2d5fa35b11edfcbe09d2946bcfce994b943&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:496e0ac9a886d0872cdf8a00db486d02e7688b85c5fbd99486a8c3ac2e0b99f3:76ffa1d84d95873fee202a4df5e4cad5b432b2cb5e5708f3a307f11dafeb4ebe&#x27;, &#x27;aib_bronze.equity_ohlcv:8be0b63ddf1d24f8f480bcc3033ff19ee648d8b3221ecd76021fdd3ad7bab2fe:17eb0fce68dabb95f4c55f3a08f6065b07c790396faab998eafc37c220c4cf84&#x27;, &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;aib_bronze.equity_ohlcv:a37e2854153cb4c2f3272f0c64e94e9529bda9479bd07452fac7fde4b1687d81:f982973eee73ec39b63142ff838ea2d5fa35b11edfcbe09d2946bcfce994b943&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.29782159356375}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Up 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.44%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.437493487501998, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 4.437493487501998, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;e0be25d963117c6dff5b0b069918c5c31f563a63ecf10ed065da64e9d55dcc07&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;628571d8b1ef72507d8161275d139d3118aeb472d74117d9003c675370c80590&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;59e20252b1a6803ab0cf7f5c38bc252d8b09216f2025760dc77bcb931d51b9d0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;87effc56463bf32ee5568e8ea0ecf4277a0425e1fca34a927f155ead25f2917d&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ca9f5a7d781ed96cacb13372ef808f577d434f24f5910f09927aa9bfd27e2c08&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;568a0d9b69d3ee50daee35c6645c38a72d3dba92c268de21f4faff587a3361ec&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-06 09:24:00.208000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b3f39713e748ae3efca99a2d4c96e6f7f88ad5b4421a87d562d958727555eb6a:74fd36eded0c2bf9609bc019963caca3d77cf9a0cfb87fdad281e2086152c189&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8be0b63ddf1d24f8f480bcc3033ff19ee648d8b3221ecd76021fdd3ad7bab2fe:17eb0fce68dabb95f4c55f3a08f6065b07c790396faab998eafc37c220c4cf84&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b9f934e1f4d1bf214500fab5f4b590d904a040baa0ba9ff34a3d7a95ae3ecbbe:0b27d9f5d4bef53a24a5bc1190d821c3a7f876a590e416a573db260adc27ec7f&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:8be0b63ddf1d24f8f480bcc3033ff19ee648d8b3221ecd76021fdd3ad7bab2fe:17eb0fce68dabb95f4c55f3a08f6065b07c790396faab998eafc37c220c4cf84&#x27;, &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;aib_bronze.equity_ohlcv:b3f39713e748ae3efca99a2d4c96e6f7f88ad5b4421a87d562d958727555eb6a:74fd36eded0c2bf9609bc019963caca3d77cf9a0cfb87fdad281e2086152c189&#x27;, &#x27;aib_bronze.equity_ohlcv:b9f934e1f4d1bf214500fab5f4b590d904a040baa0ba9ff34a3d7a95ae3ecbbe:0b27d9f5d4bef53a24a5bc1190d821c3a7f876a590e416a573db260adc27ec7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.35233874486106}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Down 7.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.20%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.202284459652619, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -7.202284459652619, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;e0be25d963117c6dff5b0b069918c5c31f563a63ecf10ed065da64e9d55dcc07&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;628571d8b1ef72507d8161275d139d3118aeb472d74117d9003c675370c80590&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;59e20252b1a6803ab0cf7f5c38bc252d8b09216f2025760dc77bcb931d51b9d0&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;0889aae880f135cf335fa14fdc2e06630ebc5eda76f6217812e9d6f8c756bf89&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a424fb405ab4ddbe0c063730cfad8fc7cde4674d59a9110157986b5dd188f8dd&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b6864c119029d45a62e2b6c44f51a9e04b0ba6737421a0d285b3ad4a6485c860&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-06 03:07:16.600000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:456534cf29d04135c38cc1c04ffea8a34aac249f53705e115d55bab32223af76:860d19f360b24599d1b1b11282e4332d58629bbfdaeab7e21249d4e372960f73&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8be0b63ddf1d24f8f480bcc3033ff19ee648d8b3221ecd76021fdd3ad7bab2fe:17eb0fce68dabb95f4c55f3a08f6065b07c790396faab998eafc37c220c4cf84&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:23a2e4a4bf547cbfa0b5721e5cba084071d4c00ecdcfffba7bd69e8e9b7c1841:a63695387ae259e38686179154271cf17c3c22d7874d90df828066e74fa1f51e&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:23a2e4a4bf547cbfa0b5721e5cba084071d4c00ecdcfffba7bd69e8e9b7c1841:a63695387ae259e38686179154271cf17c3c22d7874d90df828066e74fa1f51e&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:456534cf29d04135c38cc1c04ffea8a34aac249f53705e115d55bab32223af76:860d19f360b24599d1b1b11282e4332d58629bbfdaeab7e21249d4e372960f73&#x27;, &#x27;aib_bronze.equity_ohlcv:8be0b63ddf1d24f8f480bcc3033ff19ee648d8b3221ecd76021fdd3ad7bab2fe:17eb0fce68dabb95f4c55f3a08f6065b07c790396faab998eafc37c220c4cf84&#x27;, &#x27;aib_bronze.equity_ohlcv:8d805c3969bfde45889669ac960f1dc11be8bdbcc56097b9b689eecdd01b5c2c:42db39bac70ed782b0a0c21bd31d693bc3ce066b442e9fea1f53495fbd0b1aec&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 85.91865441827765}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Front VIX at 0.86× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.862.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 177, &#x27;epoch_values_hash&#x27;: &#x27;3b3be85adde3c50c614e4e914178e8bcc58f8e672a4c89b89bfe8f6743a10a1a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;24fbd03e819046bf8e80d612c564fd22f07e30c8fab46b4827eca34f30deb344&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 554, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7921107fbcaa76a2f676a6595102844b653ef6b5a51c85b93cc48cc57267729b&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;3a1242b216fb4fceefadb6bd8f3e0ed6f73872aa1b6867907e526a67991281e1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ff5733363bf1a0aabea2901641d97a9246fb45021194342f2e637ffd6d53ef0d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 545, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6ff0e835bc9731721604498111ef0574013cbccffd4efdd02dff18aea35613d7&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-06 03:07:16.600000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bd5508425c4fe285fa027b80570d58583b424152458e9829679ea55fd5e7c557:bb9f1a4062a45b293ab064bd4f101154cfc87a98d089d8e2651a81036d93c698&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9c8fff2c9e8445b1c65b6a0228430a85e04a0758edfb9258d834c91d3a010881:49152040600ed6d4c3ab465ff8875e68598729cbf8bf3a2ff8d9078ea40b09c6&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:28d80b5acc6de7c94c5fd5e0a5b896dd2aec11c06fdd782b218147d6dc1f4aaf:1db7e4c9f10fe232e922ed93bd5471aff4792e2c5c385f987f5001101f2ce947&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9674d5898b542fdf267cd03736cdf922022d72f1160a1ad8b741f6523b91abe6:b7f85f908c5c76640477e1da69e42061902adce6d50e5dbddbe91365a341f887&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:28d80b5acc6de7c94c5fd5e0a5b896dd2aec11c06fdd782b218147d6dc1f4aaf:1db7e4c9f10fe232e922ed93bd5471aff4792e2c5c385f987f5001101f2ce947&#x27;, &#x27;aib_bronze.equity_ohlcv:9674d5898b542fdf267cd03736cdf922022d72f1160a1ad8b741f6523b91abe6:b7f85f908c5c76640477e1da69e42061902adce6d50e5dbddbe91365a341f887&#x27;, &#x27;aib_bronze.equity_ohlcv:9c8fff2c9e8445b1c65b6a0228430a85e04a0758edfb9258d834c91d3a010881:49152040600ed6d4c3ab465ff8875e68598729cbf8bf3a2ff8d9078ea40b09c6&#x27;, &#x27;aib_bronze.equity_ohlcv:bd5508425c4fe285fa027b80570d58583b424152458e9829679ea55fd5e7c557:bb9f1a4062a45b293ab064bd4f101154cfc87a98d089d8e2651a81036d93c698&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8622222222222223}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▼ Bearish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-06 09:23:52+00:00</li>\n<li>interpretation: Down 1.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.57%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.569156597924215, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.569156597924215, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;37bf1d53084bc646db578d3309dbda02750272bc934716b7bda58d606a47f803&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e617a1450abdead250215a15432edc3e1275e5a300c93d7e301585cfa0f90c42&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9961408aed726cc209fcedda517d09884d37453707d62f15c244f0fc0b0a9581&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;46d35f3cdcce7eb657ce5fbe0556d6922ca081371996d70d629f6cf4e5b9af9b&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f9f780ef551ed9fafb053f3a39e9469e3ab5fe02f26ef5b78b7ad749eb07e4a1&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;d8eb384d081eabe813822cf5a673ffa468f0f7a85cc940a149a6231f7865ba50&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2ae6fcf7e4148c5c5abd850b399a2c51a19ba5e9a2763da82881515043da2500&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-06&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c80c7de0fe583f28424b73565df2bcad07e578d0c95c20e7a7eead08e97f68bc&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-04&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-06 03:07:16.600000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4d002ad2c6345c1145eab248988c9a6ed3f9057ef63d4156b42ca78e7f13dca8:6b5bd7d6b3ee7e012131c43b1a7d291e486515cb8fc2a73af59c640d0e465ea4&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-04&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:f1bcf64ff4b360971dfdfe50764a7660612c3a34056984a395eb8db02056cf72:66ba2d1481545da1da96f8619fdbfff97f766541e19422b2a874edd5af978a97&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8126b2239e3814984e9b3ba89d594b4be28a915e7d60adeda196c53009e16e9c:63cf909d4cd6d61ce7e049c053344528bd6b722268ff30291af940547783f2d3&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ea71c84fa96a6017e922913339cba052a13328d54814538e2811d94596254582:d146e5bd4b6555bd7734686d429bb1aaeb3c4f2047412842b71576d94ce73e6b&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-05&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8261bc5a1dbaaeb5209047f7da6877be51b6b8502a31e6450898cb4fedf976e9:d8df5abb1452ec21de1fcb639d7c80c408de92790428164628aedc23a88cd758&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:340b655667d52dfe26e20eac288bc267368b667a8d29d20fc17f29ce0b6327bf:933da8b91a51c92afc97d250cebc603308ceef64e78462790be04e9e02dd00f8&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:4d002ad2c6345c1145eab248988c9a6ed3f9057ef63d4156b42ca78e7f13dca8:6b5bd7d6b3ee7e012131c43b1a7d291e486515cb8fc2a73af59c640d0e465ea4&#x27;, &#x27;aib_bronze.equity_ohlcv:6e7b677146613beec8462c3e600c7c8bc609bcace3ffa1a2ae2e5dbd4ab89799:2f256f1f0cc4512e790c6f3ec01ed4229ed8ccf866dda1a926a770d0dd287bd1&#x27;, &#x27;aib_bronze.equity_ohlcv:8126b2239e3814984e9b3ba89d594b4be28a915e7d60adeda196c53009e16e9c:63cf909d4cd6d61ce7e049c053344528bd6b722268ff30291af940547783f2d3&#x27;, &#x27;aib_bronze.equity_ohlcv:8261bc5a1dbaaeb5209047f7da6877be51b6b8502a31e6450898cb4fedf976e9:d8df5abb1452ec21de1fcb639d7c80c408de92790428164628aedc23a88cd758&#x27;, &#x27;aib_bronze.equity_ohlcv:b39855fc663f39b529caaa4482f5cd20b3806482d3ebad0de797e5218ec9e539:cd83ce70349b884dc74079f2daf250eab4be531270a2d1fc232fa8d61cd22a62&#x27;, &#x27;aib_bronze.equity_ohlcv:ea71c84fa96a6017e922913339cba052a13328d54814538e2811d94596254582:d146e5bd4b6555bd7734686d429bb1aaeb3c4f2047412842b71576d94ce73e6b&#x27;, &#x27;aib_bronze.equity_ohlcv:f1bcf64ff4b360971dfdfe50764a7660612c3a34056984a395eb8db02056cf72:66ba2d1481545da1da96f8619fdbfff97f766541e19422b2a874edd5af978a97&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.29433288943137}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-05</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-05</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-05 / 2026-10-05 21:47:36+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,113B (conditional on an IPO), +12.90% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $6,430.; Probability-weighted bucket midpoint: $1,113B.; Seven-day implied-cap change: +12.90%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 12.901408450704244, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0375, &#x27;full_set_prob_sum&#x27;: 0.987, &#x27;implied_cap_change_7d_pct&#x27;: 12.901408450704244, &#x27;implied_cap_usd_b&#x27;: 1113.3333333333335, &#x27;ipo_by_2026_prob&#x27;: 0.038, &#x27;no_ipo_by_2026_prob&#x27;: 0.9495, &#x27;volume_24h_total&#x27;: 6429.56}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-05</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-05</td><td class=\"num\">137,994</td><td class=\"num\">24</td><td>—</td><td class=\"num\">39.59</td></tr>\n<tr><td>CISO</td><td>2026-10-05</td><td class=\"num\">869,640</td><td class=\"num\">24</td><td>—</td><td class=\"num\">44.11</td></tr>\n<tr><td>ERCO</td><td>2026-10-05</td><td class=\"num\">1,378,853</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-4.647</td></tr>\n<tr><td>PJM</td><td>2026-10-05</td><td class=\"num\">2,029,034</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-6.821</td></tr>\n<tr><td>SOCO</td><td>2026-10-05</td><td class=\"num\">635,383</td><td class=\"num\">24</td><td>—</td><td class=\"num\">2.583</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">63.6</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">66.96</td><td class=\"num\">0</td><td class=\"num\">3.359</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">64.04</td><td class=\"num\">0</td><td class=\"num\">0.443</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">63.87</td><td class=\"num\">0</td><td class=\"num\">7.512</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">56.35</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.624</li>\n<li>as of: 2026-10-05</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.06803</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>402 benchmarked model identities; 249 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 3,974,329,952,354</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 925,732,981,746</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,805,984,994,490</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (Max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">5,071,727,524,362</td></tr>\n<tr><td>GPT-6.1 Sol (Max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 908,554,286,008</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">4,433,737,272,799</td></tr>\n<tr><td>Claude Fable 5 (Max, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 345 eligible configurations.</p>\n<p>Usage window: 2026-09-06 → 2026-10-05. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-06 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;127fdce6ec0c67d16d50413b7aeddd94442f47dee8460c76cdd8743c31788d99&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;dba52c2a756f43bd10840ab8c2b34556ffff01335ea9eb5f120534b244903214&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;027feedc5ce145de22f803dbfd5015860521782daf2c0564bb0b36225e705905&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-06 09:21:42&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-06 09:21:58&quot;, &quot;record_count&quot;: 1791, &quot;records_hash&quot;: &quot;232ef937fdf450f935bd762dd9d3af98b236d64b579ea6a7365c06b52d56169a&quot;, &quot;snapshot_id&quot;: &quot;63bc1392f7f1594fc8479fc53f2f8d87c1b8e10d96f6bb0c13aea03c2ec900fe&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;20c00228ccb54414752b9add51afb41fd90aa896d279c9606a36122b47f61882&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;97f66c343931bb3564905dfd224870368a56bbfa45d3bcf781fed0df897f7db7&quot;, &quot;ead6a05061111bcaa3491a1e5d9a8a60d0ef9ec0ee1da62cb3c1a09bab44d507&quot;, &quot;e45062b5d6621a058cd8a3ac383da19ca03ecff4a5f5058706df919fea6cc789&quot;, &quot;7a8384332a258efe1c6fb8853a1ff2ec548d3c9349dc26fb1ce4c653ef50c7ba&quot;, &quot;f0efb9354a38b81bf9ae748241a8bd9e263f4cfb96227540750b2f75710f6232&quot;, &quot;2b61d0f976b4c1d99546c78bece7b85c7402001acbd8216972bbff52dffae1e7&quot;, &quot;7de17adca8997757b712b8b56d780f392a8c76365ed6939d48977c4cc0668e50&quot;, &quot;1d09a097d8fbacda89df58e1cd2025612105a8b46c7f1f13612a6e14fe0b420b&quot;, &quot;c40ba6620e01b673188c70eb0c863bc7d420641d954ba3d6b318bd9030463d37&quot;, &quot;d2ae8d73a05b0dedd54499ae44c4e22290387dffe2255f2f08760321267c434f&quot;, &quot;7bff69dcbfaa6fef801eea39d64d3be3f9fe9d1e5fb9459e4034078f58cc1e50&quot;, &quot;ca7afcf275e7fadd1ff9420c5e8405bca7aa9c3bc86b5ca9ec2e2580146417f3&quot;, &quot;5d12350126c7db33f9ab2debc913c6066a775e59feb01e6517ad10c31ef0dbc1&quot;, &quot;dae8e28fb5fe8f2f66b7d01475c2822f695eb95cd2b3066c0e8310e8c86976b1&quot;, &quot;1bc201614ac3da2476d5ecaab02232829aa5c81c09075908f3aebf0b4ae4c5f4&quot;, &quot;a7f6b3e61ea908bd123d1a604bb8682c90a5da0f52093c1bfd9726446f07a282&quot;, &quot;11ee309be0dafa5ee2f8daac87842162ad2e36c19229ab7cb26e0a45296a882a&quot;, &quot;6d6d445106f84ef4268d6ee9255f5591054b703a74753f7f8b17a95862808aba&quot;, &quot;30765a977a4cfef64bd66af102b26f67c2afc503ec9f11ccafbd72b65d94f7e8&quot;, &quot;1606ddc0bdfc98853467fefa968e8b139025813dcc67877b7e3ada7e038d4b1e&quot;, &quot;945ee7bbf41cf752e4f6a2243ac0b7433364dc72177ab3bf65a614d406b5bc0b&quot;, &quot;243af049dd80261e95f190edeae2df51fddc28aee7ebb26a8fb3f92306f36679&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-06 09:22:15&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-06 09:22:33&quot;, &quot;record_count&quot;: 784, &quot;records_hash&quot;: &quot;593a3a7075fec6053b19fc6d57e98e89799098dd32e5ec47ec125577b03ee57b&quot;, &quot;snapshot_id&quot;: &quot;bef152f8333a6d695b27c105cb496482649025a2a958f57e055360f9908902eb&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;f10e806b7ec793512174e25975db66540998273343c33f926cb622cd9c0ad998&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;3f60df058df6b3a8fa536102496cda3124c117ce1e4edb76db445eed3076078b&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-06 09:21:42&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-06 09:21:58&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;d27722ed84f9ed5b2d3a934d430974a12711180123982d8e630f45ec42c80262&quot;, &quot;snapshot_id&quot;: &quot;9b61c68b343c1544b5f19b42ca6bc5a63ff46e622dba465455592f7cd3b5c800&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;eb9366ed53da24c3e395408680e30d146b63e375f5950ab94c62676ae7488325&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;a261a0f6ce468612d0620926fdc0aa2f17e9e3d8d1fa556ce43c50fb00c066d6&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-06 09:21:42&quot;, &quot;parser_version&quot;: &quot;3c4787ee426fae5c831ea62975f455269febd7a74c7658bc76da338377c976be&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-06 09:21:56&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;a3a019818c0dc0d09fb4a1468206c67fe682e57af392bc7d183040375913a424&quot;, &quot;snapshot_id&quot;: &quot;dcdc7a643b830f2a35a4b27d5ba554fff36b24af3256e9017f6e34e5e1c53a8c&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-06 21:53:28</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>company_valuation</td><td>ok</td><td class=\"num\">90</td><td>2026-10-06 09:24:34</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-06 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-06 09:21:37</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-06 09:21:37</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-06 09:21:36</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-06 09:21:58</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">285</td><td>2026-10-06 23:41:03</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-06 23:07:52</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-06 09:24:34</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">640</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">138129</td><td>2026-10-06 09:21:36</td><td>—</td><td>partial: MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; KXIA</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">197</td><td>2026-10-06 20:40:30</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-06 23:35:16</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791329722</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">24008</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">41629</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">520</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">464</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">604</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-06 09:21:36</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-06 09:21:36</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1791</td><td>2026-10-06 09:21:38</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">784</td><td>2026-10-06 09:21:38</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-06 09:21:38</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-06 09:21:38</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-06 09:21:37</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-06 05:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">87282</td><td>2026-10-06 09:21:38</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-06 09:21:36</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-07T05:10:08Z",
      "id": "urn:prexel:issue:67f62f01-a6e2-5791-853c-76fd574497c0",
      "summary": "Prexel daily — period ending 2026-10-06. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 36 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-06-daily-cf6e3f6a650e.html"
    },
    {
      "_prexel": {
        "content_hash": "0389e4c8ce89a0e6433b63c7790644cdd316e5dd20d0a64a2b0420efa2147361",
        "context_hash": "ed237009c3e6c30ec1a55b2fe31ec77a7a25d4c4bbb4351d46db32d99da86685",
        "kind": "daily",
        "period_end": "2026-10-05"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 35 (daily)</h1>\n<p>Period: 2026-10-05 → 2026-10-05</p>\n<p>Context hash: <code>ed237009c3e6c30ec1a55b2fe31ec77a7a25d4c4bbb4351d46db32d99da86685</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 2 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Implied OpenAI valuation: ▲ Bullish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ◆ Mixed — listed data-centre landlord pricing relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>GPU marketplace depth: ▼ Bearish — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>H100 spot rental price: ▼ Bearish — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Open-weights token share: ▲ Bullish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Evidence revised; cause unclassified. Published 2026-10-05T03:39:17.237096+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 16 bullish, 7 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-02 03:33:59+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>compute_market</td><td>2026-10-05 03:39:15+00:00</td><td>The inference-price and GPU-rent trends have re-converged.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-04 22:01:17+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.9158135496578894; b200_h100_ratio_change_14d_pct=0.1128840076048827; b200_offered_usd_hr=7.8127604166666655; band_measured_pct=11.288400760488269; band_pct=5.0; h100_spot_usd_hr=2.679444444444444</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.9158135496578894, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.1128840076048827, &#x27;b200_offered_usd_hr&#x27;: 7.8127604166666655, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.288400760488269, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 11.288400760488269, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.679444444444444}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-04 22:01:17+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▼ Bearish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-04 22:01:17+00:00</li>\n<li>interpretation: Listed H100 supply is growing while offered prices fall — lessor pricing power is weakening.</li>\n<li>evidence: h100_depth_change_14d_pct=0.3834586267764065; h100_depth_smoothed_3d=36.8; h100_dispersion_smoothed_3d=2.1766626834869385; h100_price_change_14d_pct=-0.06223983822326994</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.3834586267764065, &#x27;h100_depth_smoothed_3d&#x27;: 36.8, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1766626834869385, &#x27;h100_price_change_14d_pct&#x27;: -0.06223983822326994}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-04 22:01:17+00:00</li>\n<li>interpretation: H100 spot rental prices are softening.</li>\n<li>evidence: band_measured_pct=-8.70141700965815; band_pct=8.0; h100_spot_usd_hr=2.679444444444444; spot_trend_30d_pct=-0.0870141700965815</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.70141700965815, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -8.70141700965815, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.679444444444444, &#x27;spot_trend_30d_pct&#x27;: -0.0870141700965815}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-05 03:37:07+00:00</li>\n<li>interpretation: Up 18.6% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 18.62%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 18.622289506995227, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 18.622289506995227, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2998865038, &#x27;total_tokens&#x27;: 202698226136243}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-05 03:37:09+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.72pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.7223183686627124, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.74929865554185, &#x27;top10_share_change_14d_pp&#x27;: -0.7223183686627124}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-05 03:37:09+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 12 cuts, 7 raises.; Fixed-basket price at prior-day token weights: $0.526/Mtok.; Seven-day like-for-like change: +1.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.4128508098591785, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 351, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.5264770292094111, &#x27;like_for_like_change_7d_pct&#x27;: 1.4128508098591785, &#x27;price_cut_model_count&#x27;: 12, &#x27;price_raise_model_count&#x27;: 7}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-05 03:37:09+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -7.41%.; Token-weighted effective price: $0.523/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.407444359469251, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -7.407444359469251, &#x27;effective_price_usd_mtok&#x27;: 0.523307495451378, &#x27;matched_model_count&#x27;: 351, &#x27;total_standard_tokens&#x27;: 156445136047457, &#x27;unmatched_token_share&#x27;: 2.451613967780716}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-04 03:36:46+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +152.1%.; Trailing three complete months: 150 new listings (50.0/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.1008403361345, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 152.1008403361345, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 150, &#x27;trailing_3mo_rate&#x27;: 50.0}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▲ Bullish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-05 03:37:09+00:00</li>\n<li>interpretation: The open-weights token share is falling through its band — substitution pressure on closed-model pricing power is easing.</li>\n<li>evidence: Fourteen-day share change: -20.22pp.; Open-weights share of routed standard tokens: 51.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -20.222186406688856, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -20.2642092086243, &#x27;chinese_lab_token_share&#x27;: 50.07906250633767, &#x27;matched_model_count&#x27;: 351, &#x27;openweights_share_change_14d_pp&#x27;: -20.222186406688856, &#x27;openweights_token_share&#x27;: 51.67174475970214}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-05 03:37:18+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $49.19/MWh vs prior 14-day $41.41/MWh (+18.8%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 18.780217674980364, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 49.192551561624654, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 41.41476798453997, &#x27;caiso_da_trend_pct&#x27;: 18.780217674980364}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-05 03:37:18+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.50 MMBtu/MWh vs prior 14-day 14.01 (+10.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.643198870624287, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 15.499562527248827, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.008599430835828, &#x27;caiso_heat_rate_trend_pct&#x27;: 10.643198870624287, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-05 03:37:18+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +1.11% vs control mean +13.42% (gap -12.30pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -12.301231201166075, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 19.41192901946598, &#x27;dc_load_premium_pp&#x27;: -12.301231201166075, &#x27;erco_load_yoy_7d_pct&#x27;: 7.419962841423777, &#x27;pjm_load_yoy_7d_pct&#x27;: 1.1147147292788016}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-05 03:37:09+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +13.96% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 13.96052065894339, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 13.96052065894339, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Down 14.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.030512945373609, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.030512945373609, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;3facb12560e174b508aa9e67201e90846db9706fd5bcb7f9ba528e9472cbeacd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;d22e8a0dbb3cb41e3ce4f6965be45c9714807944f5fc6bbecce635c6925711ee&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;908af171dbcd70ab5b83b01e454a19fc384d9b05ce21f7972c36d74a62c1454f&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, &#x27;CCJ.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;926738b426f8a20aeec89b84ee672bc5d87d8f2ebb9a635e2fa63af95e7b1fea&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;14297238137c1119803b024e33cd52f7450ad83baecfff0c3aab236bb8eb0839&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;291581888433f763796f9ce24f6baba1f7864c87fbd78e0d7d1d9c2f52d90bcf&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;27ec9bfaf5263ee250bc3abbe0034c1b457c24b40845818e93cd44a5e70553cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;LEU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;47bb9aeeb03c5049023092149e1cc0e8666358e5131fcaa18f1293e2d37b82cb&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;059e7805c713c9b053af7f2056302fc13e6668c693b2338aaca8f14c639464eb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;6f826606c3f23d97979ce1bc0b2c36399d10527892f0d23f095c6718bd1eb1b3&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, &#x27;OKLO.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;a4669d491ccc680e982db39b50f02b18d712aa2099db61cf679ca183389f1c04&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-04</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Down 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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&#x27;13f807950c67cd06c5a967a543d1fec3774debfcbc9be71c0092605cc11700d0&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;78c50ca97a7e6d5a046cc30f042e96e4e4a901fe56318255a23dcd00494ef040&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b21bed25d49a2c3374bd3e1e9a2a477394c0c6afe351f6eeaa463fab583898ff&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a491e546009e8af71efbef4a957b15d7487cd9fac64b20dbfeeeae3c5464fa63&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;27ec9bfaf5263ee250bc3abbe0034c1b457c24b40845818e93cd44a5e70553cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;0a323ca880e24277b7a38e76d1518e378e6caa5ce04bc40d24af6975dea82568&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;21be63961798aff152c5e93a80882d850eed9b9b8f4302c18680494fd39ba452&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;64c2929dffb4fecd52d7191ffaf087a141115c3cceebfbb83264b65715122884&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-04 03:37:59.065000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:12d2b1bfd45211c1e65a6448e20c21544c5839403bef2321a041d92b94bdc18c:aa185a60a4789be3bff031819588c9a1dc66401d773bd665c48f09933def3a98&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32b59eb4501ab3ae3dc2dcc25e9caede0316370b20dd8bd99e8cebdf0759bb04:ef56190cd1b14a979c84b302a9ee279a85dde15f63193a40e8b604f8325decb2&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fefef14cf3ed0f5bcfbfdd5e45269bef8c3e8e02a98c58d5c37440bf9b40ce28:736c8fe35a206a8d90299660fffb072e5a0e7e7b3862dcf10d213e490fd49fff&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0bb07028da2104b51cf23df9440a66b0626bbffde8b7fc590ba2831a848c2822:926c624a01094a4a2c586aab6e9240d113c9b4b893e20c441592a8d4310cfc72&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:318f81e0a1561bdff9039e379857e198011ee97a2cf9e952291f3282aeda6dfe:43e55207343026fd09f4e9984ae6e288106c48c30c26d0645258f748a25fccad&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fe31c8dfea82be24cef4fa4e16d6d75769ba89f5fa8f506191059f4ea4f042f2:1a5de9b424a65dd253d6ace421021bc239bd6b315ecf1666cb52eba9b8b896de&#x27;, &#x27;aib_bronze.equity_ohlcv:fefef14cf3ed0f5bcfbfdd5e45269bef8c3e8e02a98c58d5c37440bf9b40ce28:736c8fe35a206a8d90299660fffb072e5a0e7e7b3862dcf10d213e490fd49fff&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.98475078439283}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Up 3.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.769393834837098, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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03:38:12+00:00</li>\n<li>interpretation: Up 11.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 11.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.793904412711642, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 11.793904412711642, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;55c2797b42c849120b3b291347e79f6f3aee1c87cc59963681f1e0412b292b1c&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b658ca4aefa560f3dbc33dcbfcc89c0a2298801f183b57f4ff9ae1959aaecb6c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;259a005a8025033a1a654b118552ee5bcfbc88c7f42ccb8d5c2ff49214e63eef&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;18f47cda9da9cf91b433041f0196c970ef6febd8125986c89570438bda0fd7c0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;4d28eea605fc00cb279751418cd8da25509f3332332417208cae8e982d47d7e7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-05&#x27;, &#x27;row_count&#x27;: 381, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ccb5882d7b62f62ff9dc6872b95d6525e430ee44887ca560a77621817ac146df&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;27ec9bfaf5263ee250bc3abbe0034c1b457c24b40845818e93cd44a5e70553cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;a5da2b7200a4c2bb947cddb07cdb38aa80075b76b2d7a09051c5b6e7c27f9b2b&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7e4178479a01c235cd749732abe3bb5bedf6df020961b0983716b591764caf70&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f27a070a3528ec6e38503ccf7899e66b9b5c835c6b801c97a88d67387a83174a&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;113adf024a0aa1c04901cb292b7cc9e4c80ba10603bb2a238e2e376a2397415e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;cdc46bd925da667615670472c3efd47318129718fe42e5f06e80f725052e4072&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-05&#x27;, &#x27;row_count&#x27;: 489, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;44e6356a2f8ba4860011bb039c3c49d9242141a3d0725cc5f2614957a0612740&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-04 03:37:59.065000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e5e5d1f244e7fb6ad0c437fc5fbb991494461bb5761b009e78e140e120b1f35f:0ccc79c79a57d7b7d2b3fa619fa37a606321bd92286d146d89afd48b239c5ca6&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d38ba22c5244aa12bef49c274cf59391a540ff7be223d9b7dae5f9377f7cfd9b:a562253b0396aa1d50af220ad36a6498652b4822e8105ac1c5535f4e0716a872&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cb19dbd4088125f99bb6e57204fb5d1a67c133cf771869fafda388cc2d8ba835:8b7cc6ee65add4d830d61033c733d2011a7a7b2fbfecf66826c54456ae0df5ac&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:280da3e4ed59d57affeea62d9c2c929d35f92b5f8fb09a1c07751e5b12e42064:4392cc5e6bcb7d9ee22db9782484cd384ce1e114b88741804cb87deb0ea31d31&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9e9d908543fc3691e15785501fdf07f383d2e13e91b4f59d013cec9cab2c81a6:8596cae3ad74ffb26974fdc732fe8247c09260cba077d52ff38ac0b4f3116261&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:04d7a0e2bf120bd533c3151a7a9a280f36f47aaea5a776aba8a571058610da95&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:989e968423dc9039a50359cc0c9eab6779c28bb4f4cf9cef6bbd369f614bc87d:f819961bb68c4011de4bf4cf792933daaf482f63535d29fd3720ebc6b140042d&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b10c446350d22e4c98a0c9ff03b484f2c4651fab3abcede851488aee9d17c2db:9dc435d20dc05f6778523539912897ddccec9b657603cbecce62d6763ea5b1bf&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: 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&#x27;aib_bronze.equity_ohlcv:cb19dbd4088125f99bb6e57204fb5d1a67c133cf771869fafda388cc2d8ba835:8b7cc6ee65add4d830d61033c733d2011a7a7b2fbfecf66826c54456ae0df5ac&#x27;, &#x27;aib_bronze.equity_ohlcv:d38ba22c5244aa12bef49c274cf59391a540ff7be223d9b7dae5f9377f7cfd9b:a562253b0396aa1d50af220ad36a6498652b4822e8105ac1c5535f4e0716a872&#x27;, &#x27;aib_bronze.equity_ohlcv:e5e5d1f244e7fb6ad0c437fc5fbb991494461bb5761b009e78e140e120b1f35f:0ccc79c79a57d7b7d2b3fa619fa37a606321bd92286d146d89afd48b239c5ca6&#x27;, &#x27;aib_bronze.equity_ohlcv:ec19d98c3a675a8bac9e4020a47a0bd0c1a682349ca83d2dfc3e2b7f9dc71489:80bb5fde0f3b62725a719cdc01169e05663cd73a6eac59e05e18a4beb582aafa&#x27;, &#x27;aib_bronze.equity_ohlcv:fa87ca29151f32b8d121d23acc3ff6dfd6827f704c009a22a2cf6abe77689866:21f0ca84d8ed74303b1cd0c7c0bd24dcf659f2d94363e72c4f2bc9283761e6db&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 119.19660895199664}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Up 3.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.35%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.354470686807609, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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15.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 15.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 15.009471649302085, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 15.009471649302085, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:e9ebe888480ca63a4445bfa94ad6b082d0dfe1b00c20aa0c57e5b2d6d831f69f:a0d559fee8cb9922cf7ea30939d991de71777ff4de940fffaafa26b087cc1661&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 145.88764541885772}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Up 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.02%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2d10010c7d2ffa664ae6d335932bad754337bfbd56be83c00ca0c1631e36d715:861de179006a0ae6bc9ae01268eb81f683f96b65488a769f3410c8fb50285431&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:b209e17677e26c4a7f338caa75e8f75e06d651cf68116442b110783d4de7b6b9:cf139f7fb848fd78555d6a9bc48bba8d695c16c9402a151eb451816f22b0e219&#x27;, &#x27;aib_bronze.equity_ohlcv:e14337285aa81aa0d734e0566aa67b91b27fa89bf56b533b68ec911e17712946:77de20ca221a5f0bee0591ce6623b3c97555ae508609b4707c316dd437a892fb&#x27;, &#x27;aib_bronze.equity_ohlcv:e6424a61f45c825001915cec1fd032a38eecb0f763ceadbd9ec688472f30eeaf:e401d39a66301222e1be6ca5b29ec950e58145f862f5964831b89d163de62791&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.7617682609932}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.59%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.592899395107116, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.592899395107116, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;4640ba6ae463a23615217d12476b1581afe7d723ede91b5cb2dd574484f32f91&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4233976a4ea0c40d25a3289bb08cba3e402c8546e50d25bb2efd1bfa076f6606&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ebd81aafdeb20aa4aad5bb1e5496196c34f46940c4ed7504cc27610b239f72cb&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;9e5bddb837d53706326741bd9647d95e7d2dfcc3f7a4ea4328a59ba1cf29a739&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1873f0cdb39ffcd3039ebc1f7a99bf087cf57de535c3dd6de0d0573fcd7d5866&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b8c4b8130c89c2d9a211a98cd8f431e6f5275f20ff8da634f0bbc529b38ff73a&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 02:48:25.711000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b5531048852b7cc56fbfc30f50d546ac2f29ac5bdde389ff0cb97e57d4bb584:1af61c5647749b0f85493c3ba3c1735c53ea18fb84ca6c6f462bd535a038ac3e&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:504e57b73be86212592859c3ec1191596f385a208e34e04dc43b58f5b8741ea3:5624d1d07cf7fd28a6e7170e677c6baf7f4deb25ec7ca297bb4c52e62de716bc&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:afc7353b437c935d55c789d323758ead05fa7cecfcd0bb30bc0ac90a885c160e:31bf1ead92408cd34225e9ee44a9467ceb3158829d6363f69f1391b35dfd6825&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1065d7dac93c5c6b1465863ee51f03998dc47430340f265f5f9915131a9d08b8:27bd71f9e79001cfc8b6ca912844e68cf41996e15097ff463a2a0dcbae4ae772&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:1065d7dac93c5c6b1465863ee51f03998dc47430340f265f5f9915131a9d08b8:27bd71f9e79001cfc8b6ca912844e68cf41996e15097ff463a2a0dcbae4ae772&#x27;, &#x27;aib_bronze.equity_ohlcv:504e57b73be86212592859c3ec1191596f385a208e34e04dc43b58f5b8741ea3:5624d1d07cf7fd28a6e7170e677c6baf7f4deb25ec7ca297bb4c52e62de716bc&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:9b5531048852b7cc56fbfc30f50d546ac2f29ac5bdde389ff0cb97e57d4bb584:1af61c5647749b0f85493c3ba3c1735c53ea18fb84ca6c6f462bd535a038ac3e&#x27;, &#x27;aib_bronze.equity_ohlcv:afc7353b437c935d55c789d323758ead05fa7cecfcd0bb30bc0ac90a885c160e:31bf1ead92408cd34225e9ee44a9467ceb3158829d6363f69f1391b35dfd6825&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.7312118417713}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.40%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.39680129016301, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -4.39680129016301, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;27ec9bfaf5263ee250bc3abbe0034c1b457c24b40845818e93cd44a5e70553cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;37b4f565d7a3ac1b7a74c7190286647118d837657df7fda59f18cd14621c82d2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a2c5221cbeb376d5c63e88c6331e9cb7179279b3790ef2ccc982cbdfecfe73da&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8fce74adee7730b091ddb6f073e0b4771e6a404d42eb1013ec1c7522a8945d35&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-04 03:37:59.065000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:7e453229b6df5d8acc7712f04893d553bef49602b58def1f9a52ec0eb6c7453b:1c989645bc4b3adfa3e2ea63c3149a441a8c6554c564bf85eb62c8b4917c9be2&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:c7c96d40e221dea783e6d4c3b3426f2ce6b4756324402df904f1826ed25e80e9:c4aa01ebc6715d5ad09125b4307d2e4af983e7313fe63d5629c7e18bdee431fc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.29840555709117}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Up 4.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.943607879744105, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 4.943607879744105, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;27ec9bfaf5263ee250bc3abbe0034c1b457c24b40845818e93cd44a5e70553cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;612bf2b57ad0e747972047e8e78cc4fb424b0b1b16ec2b56121b88d9d4807f97&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f0dc6f6646fd3b724a8fea59938a26b5a5f424bb409ef1d6143763894d2b3cab&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd5d83c7fd77795859b13fa4d52adc89b2681b17d8b9d063366837ce671898c1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 07:25:07.721000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d50eae816e1f9c8f827850e9db74326b9cb1ea50e025346697b6ed64a02f7c9c:68bf1b663d3de6725de9cb6fd5ede10df304576d2971a3cbd47f46b9eb1c1067&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c959eaa287aa7b11313959105c9dd6ac30fcd12834627dccd549c192c5f6c1e5:0418a1f77888e72818b382c4978141fde5df7dc06e6b4086f0cf15494ebd34e2&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:c959eaa287aa7b11313959105c9dd6ac30fcd12834627dccd549c192c5f6c1e5:0418a1f77888e72818b382c4978141fde5df7dc06e6b4086f0cf15494ebd34e2&#x27;, &#x27;aib_bronze.equity_ohlcv:d50eae816e1f9c8f827850e9db74326b9cb1ea50e025346697b6ed64a02f7c9c:68bf1b663d3de6725de9cb6fd5ede10df304576d2971a3cbd47f46b9eb1c1067&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.12870546573612}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Down 6.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.65%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.652565700592861, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -6.652565700592861, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;27ec9bfaf5263ee250bc3abbe0034c1b457c24b40845818e93cd44a5e70553cb&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;f65dee4d91f9d557175f1eef55974ee1bc4789f6ac8c0e27148baa0b7763d8f0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;65763835c7c616709b8782166ad9e8d9f1375d9ee5d94dd618b25d0bbdbf6bd5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5979757e7739de52d1a7e382fafab6e43dfdf608bb341573b903c8aa12c5fefa&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-04 03:37:59.065000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;aib_bronze.equity_ohlcv:b203f8477fe0a55c187d9664793c7798ac49adcbb3533e095aed68a0b52a8262:5e9d9ed674a0b85c21673741abd928b79e092a11925561052f980ed82c80d44d&#x27;, &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:ebfca9134cfe37875491eb41d7c48990a41fe389feb8bdbd1c24227ef567a91e:0e5ca86d3a5f9c09650667a9a558b46110d68a912749616dc4e6dd4401ee821c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 86.1856733453335}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.850.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;db99beef1c615baff439a007ad8c50eaa569af1eec708c790ad43c6c30b22479&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9a05c58afb1263b8436c66e072496be743f7d13f52c6a220e0cb50f5e4f5f12f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3d3ee379aedb960a3c10ad7bd488774fa4cec68dd3cd4a0e93b308c6c3dd4fad&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;1916593395ea96e456e84809383d673359f134a8bd3559acf254cbf83fa6c5f2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;751770aba1edcc266d75b7457c814038be2d857a960706d6341819c6b826f158&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;701f14a8dc7c87f70290325d3cc245bc8925f939e4f17951ed00b04158c0a74b&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 02:48:25.711000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d5719f56381fbb4d288afea9481245b14cd346fb537b91e1fd4aa9d84b411ef3:f55ae4db179cf42f3b17aac3e6f90a8e99082ed0ba808370061f91c271873869&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c9a17a29f8660d7cdae8e9b574b3a95ed7b942f76882b9ae9b40fe42e83d9c66:b799b2dea0f1e1e8112e3c9f0afd0d09d1cad40bf132171cca58678599ae25b9&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:54479ebf52adee6f055663afb8dbe26a28a60ea68509ce4164018622568b6c36:1b0cffba3433328e633747974738930401ca59327d0773cfef4382fbdf6fb732&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c76fcd76fd2b8127dd44adf9cb5cb947cb507a2605728597db2b8c6834b5133c:d17943194cd248a3767081eab464c9dd3e000a7e87ae201cd4ef5e3ac277b510&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:54479ebf52adee6f055663afb8dbe26a28a60ea68509ce4164018622568b6c36:1b0cffba3433328e633747974738930401ca59327d0773cfef4382fbdf6fb732&#x27;, &#x27;aib_bronze.equity_ohlcv:c76fcd76fd2b8127dd44adf9cb5cb947cb507a2605728597db2b8c6834b5133c:d17943194cd248a3767081eab464c9dd3e000a7e87ae201cd4ef5e3ac277b510&#x27;, &#x27;aib_bronze.equity_ohlcv:c9a17a29f8660d7cdae8e9b574b3a95ed7b942f76882b9ae9b40fe42e83d9c66:b799b2dea0f1e1e8112e3c9f0afd0d09d1cad40bf132171cca58678599ae25b9&#x27;, &#x27;aib_bronze.equity_ohlcv:d5719f56381fbb4d288afea9481245b14cd346fb537b91e1fd4aa9d84b411ef3:f55ae4db179cf42f3b17aac3e6f90a8e99082ed0ba808370061f91c271873869&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8500832870627428}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-05 03:38:12+00:00</li>\n<li>interpretation: Down 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.89%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.8885726139216121, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.8885726139216121, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;0e6082c8dc5934f0944fd75f03fdb5c2e246d1dc0400dbec713604c66ba228d9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7c695e9b4256dec864203080f51ba27aad3620c3a69209c109806faa3957a3d4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b558260ac593f3445a34c0b2b805272373d04a8c24cedd4882f05ad616c0dec2&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6ddf9dadef76a4ff9d3b87e864b91c5c7338c1ecdfbae025a25f1c890328c09f&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b8c4b8130c89c2d9a211a98cd8f431e6f5275f20ff8da634f0bbc529b38ff73a&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;80717d42f5004b98c4e86c55d887b59cc252f8293d24aa0a8e5dcbcf92cabce8&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;df009ce603f4bf21f960d99a6a11cde918bf311b8bb6d4e03cec55ddade4262c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-05&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3f2eaaf056bc38a16a8c6f51239ad677007db62a1287555ddd4e2cd0300f18b6&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-04 03:37:59.065000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:874409db0f80e1cf6b84c090023bba3fb2447219c6ded2d056513a6e632fba35:6920ad01b0401603d65f336b83e6d62bb95782a2f2573731bbd8a954da1f8871&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:4c67b8ff0feffc97c00aa22b71f051e1bbd77c0fc06a50b8a43ac916e70d2f89:67335929cf7d308f63db52cb43e49289bd69d1661f5831b668874a6b3f40e290&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ef26eedced0954ee8c9657e0bd91722312dfde7b855ab79f4590f892006b7cc4:54e9f1611a7b6ab8884e404d9c001970ec20228c06045ef0180a0b2036e39dbb&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1065d7dac93c5c6b1465863ee51f03998dc47430340f265f5f9915131a9d08b8:27bd71f9e79001cfc8b6ca912844e68cf41996e15097ff463a2a0dcbae4ae772&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:96537f631d53209453b5cc17d3ac9a20a7614fd1ce7582219b20a5fdd0d188d3:65928ec5c8ca360b186a319f4766cab39e1b4df4e0d3ec0b7d148c643c82f632&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:1065d7dac93c5c6b1465863ee51f03998dc47430340f265f5f9915131a9d08b8:27bd71f9e79001cfc8b6ca912844e68cf41996e15097ff463a2a0dcbae4ae772&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:4c67b8ff0feffc97c00aa22b71f051e1bbd77c0fc06a50b8a43ac916e70d2f89:67335929cf7d308f63db52cb43e49289bd69d1661f5831b668874a6b3f40e290&#x27;, &#x27;aib_bronze.equity_ohlcv:504e57b73be86212592859c3ec1191596f385a208e34e04dc43b58f5b8741ea3:5624d1d07cf7fd28a6e7170e677c6baf7f4deb25ec7ca297bb4c52e62de716bc&#x27;, &#x27;aib_bronze.equity_ohlcv:874409db0f80e1cf6b84c090023bba3fb2447219c6ded2d056513a6e632fba35:6920ad01b0401603d65f336b83e6d62bb95782a2f2573731bbd8a954da1f8871&#x27;, &#x27;aib_bronze.equity_ohlcv:96537f631d53209453b5cc17d3ac9a20a7614fd1ce7582219b20a5fdd0d188d3:65928ec5c8ca360b186a319f4766cab39e1b4df4e0d3ec0b7d148c643c82f632&#x27;, &#x27;aib_bronze.equity_ohlcv:cb2fdea6ebd10a9315a374e3c16a0081e198a343beea3a484ec53bbde532b245:148d926f1409bf2b2a2993c8e29cda92705756989cc664be1ca2091e6af89b66&#x27;, &#x27;aib_bronze.equity_ohlcv:ef26eedced0954ee8c9657e0bd91722312dfde7b855ab79f4590f892006b7cc4:54e9f1611a7b6ab8884e404d9c001970ec20228c06045ef0180a0b2036e39dbb&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;aib_bronze.equity_ohlcv:fda06b99e958a8e5558de8e91ff757deb65e962f5aab9c182a8d2f8b7ff9d8de:6ed1ad047f25f83a6b5288aa693934bde36a7326e8c69a8686a206930c7e0f11&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.94314573180863}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-04</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-04</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-04 / 2026-10-04 21:44:28+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,099B (conditional on an IPO), +9.92% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $5,111.; Probability-weighted bucket midpoint: $1,099B.; Seven-day implied-cap change: +9.92%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.920634920634907, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0315, &#x27;full_set_prob_sum&#x27;: 0.9904999999999999, &#x27;implied_cap_change_7d_pct&#x27;: 9.920634920634907, &#x27;implied_cap_usd_b&#x27;: 1099.2063492063492, &#x27;ipo_by_2026_prob&#x27;: 0.038, &#x27;no_ipo_by_2026_prob&#x27;: 0.959, &#x27;volume_24h_total&#x27;: 5110.676844}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-04</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-04</td><td class=\"num\">135,045</td><td class=\"num\">24</td><td>—</td><td class=\"num\">42.97</td></tr>\n<tr><td>CISO</td><td>2026-10-04</td><td class=\"num\">814,033</td><td class=\"num\">24</td><td>—</td><td class=\"num\">46.31</td></tr>\n<tr><td>ERCO</td><td>2026-10-04</td><td class=\"num\">1,318,401</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-4.022</td></tr>\n<tr><td>PJM</td><td>2026-10-04</td><td class=\"num\">1,925,068</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-4.786</td></tr>\n<tr><td>SOCO</td><td>2026-10-04</td><td class=\"num\">637,052</td><td class=\"num\">24</td><td>—</td><td class=\"num\">13.17</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">56.09</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">54.8</td><td class=\"num\">0</td><td class=\"num\">-1.295</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">56.08</td><td class=\"num\">0</td><td class=\"num\">-0.01323</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">53.07</td><td class=\"num\">0</td><td class=\"num\">10.61</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">42.46</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.679</li>\n<li>as of: 2026-10-04</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.08701</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>278 benchmarked model identities; 216 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Max, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 3,516,675,566,104</td></tr>\n<tr><td>Claude Sonnet 5.5 (Max, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 774,856,049,147</td></tr>\n<tr><td>Claude Fable 5.1 (Max, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,846,112,887,570</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>Unreported</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td class=\"num\">5,050,340,544,232</td></tr>\n<tr><td>GPT-6.1 Sol (max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 711,858,865,403</td></tr>\n<tr><td>Claude Opus 5 (Max)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">4,523,043,592,991</td></tr>\n<tr><td>Claude Fable 5 (Max, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 107 eligible configurations.</p>\n<p>Usage window: 2026-09-05 → 2026-10-04. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-05 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;f85ef4d13d20dccf06c2c54c12183a70a2b193acbebbb899af5368e0d3a109f0&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;8c4f8911baaf8929e062a73e58e5dff0b2e015b1935f8b87c305737af725ac83&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;22dc078a4a93c38d5dd3a2a279ebdc91c060ca4ac810b6bdd2af4453ef6a92d6&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-05 03:37:13&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-05 03:37:16&quot;, &quot;record_count&quot;: 1605, &quot;records_hash&quot;: &quot;4eb3db9d268d5b1ee77bb9a8f8e9bd6d60f23c5bbc61b4d9cd4ccf0a48542b5a&quot;, &quot;snapshot_id&quot;: &quot;bfc5cf19822af7a5c6b750f489bcc2d927ba5333416d143f3616616da346ef19&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;deb37e9ac74fa4e5f53a499c56433bfd714d546cf76bf894f74420f4e5c8cc67&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;07637e3b9ece39b5b93bbb4b940a43c05a66afcb5136be4e1b29eb9bf882c84f&quot;, &quot;d5f885e9574bdfeb6b668c7fc5b5ddd2f53177bd82d963f596288ca24b90a1d2&quot;, &quot;96ef9b73bc589749ce25ad0a3f52829f908c9a1ddb3187f0a5d99f83f7501950&quot;, &quot;61d224d30258091a95280ba8a52372ec28b156c353d9042878a252aa5eda7419&quot;, &quot;609cc00f3c6cc2cdebf7173c7143b4402b59686ce5daaa67f99434c42ebe413d&quot;, &quot;d63bc234419af6d81db9eb48bc4f19a104b5788f71e49e8c4bad1fb36c463b91&quot;, &quot;e7f093e726aeec11b96d29ab6ee3cc9dac29796eda90d2511e22373223bc8d86&quot;, &quot;061b32ff08298de2f5ad06ff2dae48f4830ec18912133cf2a3af11bd8ebab9d1&quot;, &quot;41dc0bb043da02970e43eaec5c44dddc07239084c73b9d9fc81da4c285ebbe2f&quot;, &quot;7c6ac94c99b5a553a4a3be5c2110c50b57cd230db169e06cf0b8b95daff36674&quot;, &quot;c04a5636ea97f4721311523b409ba406f26b7eb7dae999bb7b0fa9e4afc40ba9&quot;, &quot;4df1fa2a32db6c3b1ea4821bb2cf1e9b6f558ab1d914af9cde3097ee9ac2b0e0&quot;, &quot;d85855ad777a310f53bd1c5987eb7d7c433808c3421746c81a87039c95297cc2&quot;, &quot;09241fed3bdd07e1835f9444093f9efb644b8e0997fd3a5a7f8d8527143ceca5&quot;, &quot;fbbc8528f22b7e6516b858fd6b69cdf9db5cb816fcdaa339d457bcb800e89107&quot;, &quot;0f9760f05de0926f2e06d57eb3b359d04f822666e63c8b2b8f674572eb0f5ece&quot;, &quot;980dabc7388ecdb127be9bbbc07cdef5be01bcdb85cb072267dea6dbb7d742b2&quot;, &quot;08bbce08d5c3a7faf2d14f4359c192f5cac5c4515c6ef1f35dc386f93f568466&quot;, &quot;0e6ed12ec5688ab892c6f08e3c95e6fcf1c298e509b1376831463af5517cca4b&quot;, &quot;813566cdccf22542eb4db749a2a7a1aa8b312ccb6e6f51b4f502a816fd42e40d&quot;, &quot;05d8249c6de4626b293d61c39a1e0b57cc8289aeeffc17c7eced740d565de077&quot;, &quot;299e73b26911c3686fe11a756b226ffad550d8ef8245062f3aa50c811f491653&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-05 03:37:18&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-05 03:37:20&quot;, &quot;record_count&quot;: 770, &quot;records_hash&quot;: &quot;e55ac1b0a3ab309bad14475457f56fe56e11c58a3545c0e1be7ecc23f00db67f&quot;, &quot;snapshot_id&quot;: &quot;f81847551bfdbe85e0d18bb522a733e7953a7d965f4144f35428dd44bd95bf2c&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;555be2e89e8dfe1ef40fef5afd17b4213900ec64462392b3fcf596e3aadf771d&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;d7dc01c6297be512fa05ac0a6d1419f3fb1b5d5ffe8b8c7e80c4987f02973d97&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-05 03:37:09&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-05 03:37:16&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;0731d8d403cbc5a9095608c3f72e29ed20bfb8e1784a3f13c8a3c3837ef104a4&quot;, &quot;snapshot_id&quot;: &quot;f8d858ddd9a4c2d96749b89a13c64cfd8de5a5426de4cb33f8fee1e62be94353&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;763e43b69bc68d55c37164a4e077838808592bda9df6e347cbda89156dec1d16&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;83bf7b2f503f09e7bebfca21e670cb2976e4f78572a721d33cad5830ffbb5853&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-05 03:37:09&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-05 03:37:15&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;df269b1496c303db9174232b8c079071b4d82b5f95c92de1d8ae5fa2c1cd92d5&quot;, &quot;snapshot_id&quot;: &quot;35fde79536cdf62c88deaa251b701b9b03c912498de1b916cc1d62bfbd9ff2f3&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-05 21:47:36</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-05 05:30:01</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-05 03:37:05</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-05 03:37:05</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-05 03:37:16</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">280</td><td>2026-10-05 23:59:48</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-05 23:40:14</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-05 03:38:57</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-05 03:37:06</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">137859</td><td>2026-10-05 03:37:05</td><td>—</td><td>partial: MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; KXIA</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">223</td><td>2026-10-05 19:53:53</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-05 23:58:39</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791244725</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-05 03:37:06</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">466</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-05 03:37:06</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">606</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1605</td><td>2026-10-05 03:37:06</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">770</td><td>2026-10-05 03:37:06</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-05 03:37:06</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-05 03:37:06</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-05 05:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-05 03:37:06</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-05 03:37:05</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-06T05:10:08Z",
      "id": "urn:prexel:issue:b9353b97-ac5c-5a93-9cd3-9d585613d048",
      "summary": "Prexel daily — period ending 2026-10-05. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 35 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-05-daily-0389e4c8ce89.html"
    },
    {
      "_prexel": {
        "content_hash": "aeeb84b735cf6932e19b92f7845256d5ff58fe73ebeea9031f7eeffd379e5602",
        "context_hash": "181548c6359fa33f262cd9b6771de357474185f9f8436b6bfe2a53eaf85d4b4e",
        "kind": "daily",
        "period_end": "2026-10-04"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 34 (daily)</h1>\n<p>Period: 2026-10-04 → 2026-10-04</p>\n<p>Context hash: <code>181548c6359fa33f262cd9b6771de357474185f9f8436b6bfe2a53eaf85d4b4e</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</strong> — conflict across Compute; open since 2 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 2 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Evidence revised; cause unclassified. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Evidence revised; cause unclassified. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); Source correction. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Evidence revised; cause unclassified. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ◆ Mixed — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>GPU marketplace depth: ▼ Bearish — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Evidence revised; cause unclassified. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Open-weights token share: ▲ Bullish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-10-04T03:38:57.903975+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-10-04T03:38:57.903975+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 28 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 16 bullish, 5 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>conflict</td><td>compute_market</td><td>2026-10-02 03:33:59+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-02 03:33:59+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-20 04:42:32+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-03 19:14:26+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.9266310002774696; b200_h100_ratio_change_14d_pct=0.23699761864953806; b200_offered_usd_hr=7.813020833333333; band_measured_pct=23.699761864953807; band_pct=5.0; h100_spot_usd_hr=2.6696296296296294</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.9266310002774696, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.23699761864953806, &#x27;b200_offered_usd_hr&#x27;: 7.813020833333333, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 23.699761864953807, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 23.699761864953807, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.6696296296296294}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-03 19:14:26+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▼ Bearish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-03 19:14:26+00:00</li>\n<li>interpretation: Listed H100 supply is growing while offered prices fall — lessor pricing power is weakening.</li>\n<li>evidence: h100_depth_change_14d_pct=0.36930232558139525; h100_depth_smoothed_3d=36.8; h100_dispersion_smoothed_3d=2.1799426078796387; h100_price_change_14d_pct=-0.05642100322601818</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.36930232558139525, &#x27;h100_depth_smoothed_3d&#x27;: 36.8, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1799426078796387, &#x27;h100_price_change_14d_pct&#x27;: -0.05642100322601818}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-03 19:14:26+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=-1.4869875404491444; band_pct=8.0; h100_spot_usd_hr=2.6696296296296294; spot_trend_30d_pct=-0.014869875404491443</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.4869875404491444, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -1.4869875404491444, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.6696296296296294, &#x27;spot_trend_30d_pct&#x27;: -0.014869875404491443}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-04 03:36:45+00:00</li>\n<li>interpretation: Up 17.3% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 17.31%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 17.30935252737349, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 17.30935252737349, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2959561303, &#x27;total_tokens&#x27;: 197618350010153}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-04 03:36:47+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.83pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.8345033039079084, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.67307476406154, &#x27;top10_share_change_14d_pp&#x27;: -0.8345033039079084}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-04 03:36:47+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 12 cuts, 11 raises.; Fixed-basket price at prior-day token weights: $0.606/Mtok.; Seven-day like-for-like change: +6.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.1560433129487, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 351, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6056416440607963, &#x27;like_for_like_change_7d_pct&#x27;: 6.1560433129487, &#x27;price_cut_model_count&#x27;: 12, &#x27;price_raise_model_count&#x27;: 11}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-04 03:36:47+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -4.62%.; Token-weighted effective price: $0.595/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.61785018357107, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -4.61785018357107, &#x27;effective_price_usd_mtok&#x27;: 0.5949687902885681, &#x27;matched_model_count&#x27;: 351, &#x27;total_standard_tokens&#x27;: 154010717055054, &#x27;unmatched_token_share&#x27;: 2.449242142364414}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-03 07:23:56+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +152.1%.; Trailing three complete months: 150 new listings (50.0/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 152.1008403361345, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 152.1008403361345, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 150, &#x27;trailing_3mo_rate&#x27;: 50.0}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▲ Bullish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-04 03:36:47+00:00</li>\n<li>interpretation: The open-weights token share is falling through its band — substitution pressure on closed-model pricing power is easing.</li>\n<li>evidence: Fourteen-day share change: -17.33pp.; Open-weights share of routed standard tokens: 52.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -17.33368212318404, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -17.571802088505976, &#x27;chinese_lab_token_share&#x27;: 50.71504470173289, &#x27;matched_model_count&#x27;: 351, &#x27;openweights_share_change_14d_pp&#x27;: -17.33368212318404, &#x27;openweights_token_share&#x27;: 52.385391720204446}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-04 03:36:57+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $47.12/MWh vs prior 14-day $42.20/MWh (+11.7%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.652706690321892, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 47.116214180672266, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 42.19890012281836, &#x27;caiso_da_trend_pct&#x27;: 11.652706690321892}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-04 03:36:57+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.83 MMBtu/MWh vs prior 14-day 14.43 (+2.8%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.7705221217216653, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.829178654307128, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.429408694395278, &#x27;caiso_heat_rate_trend_pct&#x27;: 2.7705221217216653, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-04 03:36:57+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +0.22% vs control mean +12.28% (gap -12.06pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -12.059765594799275, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 14.139477467331943, &#x27;dc_load_premium_pp&#x27;: -12.059765594799275, &#x27;erco_load_yoy_7d_pct&#x27;: 10.4161931610913, &#x27;pjm_load_yoy_7d_pct&#x27;: 0.21806971941234576}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-04 03:36:47+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +7.59% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.591886726986722, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 7.591886726986722, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Down 14.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.030512945373609, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.030512945373609, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;3facb12560e174b508aa9e67201e90846db9706fd5bcb7f9ba528e9472cbeacd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-03</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Down 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.42275914008813587, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.42275914008813587, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;4a1596a6a057f9bfec4a5d170acb61cf05c2089c7b23203bff405c6b3b4d2785&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;908d89e773bf5eb58448e1f1a6cbcc054ccc468dcbfc0b53d4d190db3e27f5cb&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;09e3648c2721bc4ede37eedfce5ca832b1a6fbc3f1cbe68b065c8071ba1cc4c2&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;78c50ca97a7e6d5a046cc30f042e96e4e4a901fe56318255a23dcd00494ef040&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b21bed25d49a2c3374bd3e1e9a2a477394c0c6afe351f6eeaa463fab583898ff&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b5242e5d7a645c46bd46ef6a6875e85845d0d964b19ee11a2dbad5e6476bf459&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a9ba7a85a9d6294edce41f6a16998b1afd2f1684a85df8df137fe5c4ba03f265&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;0a323ca880e24277b7a38e76d1518e378e6caa5ce04bc40d24af6975dea82568&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;21be63961798aff152c5e93a80882d850eed9b9b8f4302c18680494fd39ba452&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2396f93c3beecbd23699abdd1872e5fd7bb3d1e04eb7d138df413c90088638ea&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-04 03:37:59.065000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:12d2b1bfd45211c1e65a6448e20c21544c5839403bef2321a041d92b94bdc18c:aa185a60a4789be3bff031819588c9a1dc66401d773bd665c48f09933def3a98&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32b59eb4501ab3ae3dc2dcc25e9caede0316370b20dd8bd99e8cebdf0759bb04:ef56190cd1b14a979c84b302a9ee279a85dde15f63193a40e8b604f8325decb2&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fefef14cf3ed0f5bcfbfdd5e45269bef8c3e8e02a98c58d5c37440bf9b40ce28:736c8fe35a206a8d90299660fffb072e5a0e7e7b3862dcf10d213e490fd49fff&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0bb07028da2104b51cf23df9440a66b0626bbffde8b7fc590ba2831a848c2822:926c624a01094a4a2c586aab6e9240d113c9b4b893e20c441592a8d4310cfc72&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:318f81e0a1561bdff9039e379857e198011ee97a2cf9e952291f3282aeda6dfe:43e55207343026fd09f4e9984ae6e288106c48c30c26d0645258f748a25fccad&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fe31c8dfea82be24cef4fa4e16d6d75769ba89f5fa8f506191059f4ea4f042f2:1a5de9b424a65dd253d6ace421021bc239bd6b315ecf1666cb52eba9b8b896de&#x27;, &#x27;aib_bronze.equity_ohlcv:fefef14cf3ed0f5bcfbfdd5e45269bef8c3e8e02a98c58d5c37440bf9b40ce28:736c8fe35a206a8d90299660fffb072e5a0e7e7b3862dcf10d213e490fd49fff&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.98475078439283}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Up 3.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.769393834837098, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.769393834837098, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;AMZN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;8279000b89cac3484ea953bd95d8be0ea772127d99da4c3f339c6fb10d83cd7a&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;654c6d6acb41f82cb8d62715d9f67ba3321955afe886a5fc97ca67c8fd2c48c7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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03:37:52+00:00</li>\n<li>interpretation: Up 11.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 11.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.793904412711642, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 11.793904412711642, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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&#x27;history_values_hash&#x27;: &#x27;4d28eea605fc00cb279751418cd8da25509f3332332417208cae8e982d47d7e7&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-04&#x27;, &#x27;row_count&#x27;: 381, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a022675c3096057b44a1dd45e751d84ef54fe93addb192da3f204c2a18c55c33&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Up 3.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.35%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.354470686807609, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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15.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 15.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 15.009471649302085, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 15.009471649302085, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:e9ebe888480ca63a4445bfa94ad6b082d0dfe1b00c20aa0c57e5b2d6d831f69f:a0d559fee8cb9922cf7ea30939d991de71777ff4de940fffaafa26b087cc1661&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 145.88764541885772}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Up 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.02%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;499dc9b52e00f919d5f9aeb76993573099b6966cb89017e0366c19e6d2575329&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;18e56d2e7f6b67e5b11d75f0ff4f39abed83471c37fd052e6e06504441aa3d79&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cca0fce12abae37b459ff214a47e31c66a1d28bfe6149a9dd388a083f1cc9767&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;857c7cd3a81c3249a8b70ea297a569fd05c878b7980309e01d6956d341ac8aeb&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-04 03:37:59.065000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2d10010c7d2ffa664ae6d335932bad754337bfbd56be83c00ca0c1631e36d715:861de179006a0ae6bc9ae01268eb81f683f96b65488a769f3410c8fb50285431&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e14337285aa81aa0d734e0566aa67b91b27fa89bf56b533b68ec911e17712946:77de20ca221a5f0bee0591ce6623b3c97555ae508609b4707c316dd437a892fb&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b209e17677e26c4a7f338caa75e8f75e06d651cf68116442b110783d4de7b6b9:cf139f7fb848fd78555d6a9bc48bba8d695c16c9402a151eb451816f22b0e219&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e6424a61f45c825001915cec1fd032a38eecb0f763ceadbd9ec688472f30eeaf:e401d39a66301222e1be6ca5b29ec950e58145f862f5964831b89d163de62791&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2d10010c7d2ffa664ae6d335932bad754337bfbd56be83c00ca0c1631e36d715:861de179006a0ae6bc9ae01268eb81f683f96b65488a769f3410c8fb50285431&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:b209e17677e26c4a7f338caa75e8f75e06d651cf68116442b110783d4de7b6b9:cf139f7fb848fd78555d6a9bc48bba8d695c16c9402a151eb451816f22b0e219&#x27;, &#x27;aib_bronze.equity_ohlcv:e14337285aa81aa0d734e0566aa67b91b27fa89bf56b533b68ec911e17712946:77de20ca221a5f0bee0591ce6623b3c97555ae508609b4707c316dd437a892fb&#x27;, &#x27;aib_bronze.equity_ohlcv:e6424a61f45c825001915cec1fd032a38eecb0f763ceadbd9ec688472f30eeaf:e401d39a66301222e1be6ca5b29ec950e58145f862f5964831b89d163de62791&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.7617682609932}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.59%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.592899395107116, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.592899395107116, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;4640ba6ae463a23615217d12476b1581afe7d723ede91b5cb2dd574484f32f91&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4233976a4ea0c40d25a3289bb08cba3e402c8546e50d25bb2efd1bfa076f6606&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;09fd98919d817d7c6ccba4a3ecd9b04640858a8d6f272e6e8fed25a5aafe7522&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;9e5bddb837d53706326741bd9647d95e7d2dfcc3f7a4ea4328a59ba1cf29a739&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1873f0cdb39ffcd3039ebc1f7a99bf087cf57de535c3dd6de0d0573fcd7d5866&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c3ed4bd6d4700ea04460a469071e0bb95d13ccc7e142c85c76786132c4a0d653&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 02:48:25.711000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b5531048852b7cc56fbfc30f50d546ac2f29ac5bdde389ff0cb97e57d4bb584:1af61c5647749b0f85493c3ba3c1735c53ea18fb84ca6c6f462bd535a038ac3e&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:504e57b73be86212592859c3ec1191596f385a208e34e04dc43b58f5b8741ea3:5624d1d07cf7fd28a6e7170e677c6baf7f4deb25ec7ca297bb4c52e62de716bc&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:afc7353b437c935d55c789d323758ead05fa7cecfcd0bb30bc0ac90a885c160e:31bf1ead92408cd34225e9ee44a9467ceb3158829d6363f69f1391b35dfd6825&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1065d7dac93c5c6b1465863ee51f03998dc47430340f265f5f9915131a9d08b8:27bd71f9e79001cfc8b6ca912844e68cf41996e15097ff463a2a0dcbae4ae772&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:1065d7dac93c5c6b1465863ee51f03998dc47430340f265f5f9915131a9d08b8:27bd71f9e79001cfc8b6ca912844e68cf41996e15097ff463a2a0dcbae4ae772&#x27;, &#x27;aib_bronze.equity_ohlcv:504e57b73be86212592859c3ec1191596f385a208e34e04dc43b58f5b8741ea3:5624d1d07cf7fd28a6e7170e677c6baf7f4deb25ec7ca297bb4c52e62de716bc&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:9b5531048852b7cc56fbfc30f50d546ac2f29ac5bdde389ff0cb97e57d4bb584:1af61c5647749b0f85493c3ba3c1735c53ea18fb84ca6c6f462bd535a038ac3e&#x27;, &#x27;aib_bronze.equity_ohlcv:afc7353b437c935d55c789d323758ead05fa7cecfcd0bb30bc0ac90a885c160e:31bf1ead92408cd34225e9ee44a9467ceb3158829d6363f69f1391b35dfd6825&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.7312118417713}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.40%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.39680129016301, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -4.39680129016301, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a9ba7a85a9d6294edce41f6a16998b1afd2f1684a85df8df137fe5c4ba03f265&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;37b4f565d7a3ac1b7a74c7190286647118d837657df7fda59f18cd14621c82d2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a2c5221cbeb376d5c63e88c6331e9cb7179279b3790ef2ccc982cbdfecfe73da&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1929e904fbcc0615abbbd7735b8ef3f5c7a73925b6c295db70c648a99b473195&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-04 03:37:59.065000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7e453229b6df5d8acc7712f04893d553bef49602b58def1f9a52ec0eb6c7453b:1c989645bc4b3adfa3e2ea63c3149a441a8c6554c564bf85eb62c8b4917c9be2&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c7c96d40e221dea783e6d4c3b3426f2ce6b4756324402df904f1826ed25e80e9:c4aa01ebc6715d5ad09125b4307d2e4af983e7313fe63d5629c7e18bdee431fc&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:7e453229b6df5d8acc7712f04893d553bef49602b58def1f9a52ec0eb6c7453b:1c989645bc4b3adfa3e2ea63c3149a441a8c6554c564bf85eb62c8b4917c9be2&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:c7c96d40e221dea783e6d4c3b3426f2ce6b4756324402df904f1826ed25e80e9:c4aa01ebc6715d5ad09125b4307d2e4af983e7313fe63d5629c7e18bdee431fc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.29840555709117}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Up 4.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.943607879744105, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 4.943607879744105, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a9ba7a85a9d6294edce41f6a16998b1afd2f1684a85df8df137fe5c4ba03f265&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;612bf2b57ad0e747972047e8e78cc4fb424b0b1b16ec2b56121b88d9d4807f97&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f0dc6f6646fd3b724a8fea59938a26b5a5f424bb409ef1d6143763894d2b3cab&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;aa290b14ddba502e3a4882e3258e975edfec6bee9ec66e94a3c49500f1eb2893&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 07:25:07.721000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d50eae816e1f9c8f827850e9db74326b9cb1ea50e025346697b6ed64a02f7c9c:68bf1b663d3de6725de9cb6fd5ede10df304576d2971a3cbd47f46b9eb1c1067&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c959eaa287aa7b11313959105c9dd6ac30fcd12834627dccd549c192c5f6c1e5:0418a1f77888e72818b382c4978141fde5df7dc06e6b4086f0cf15494ebd34e2&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:c959eaa287aa7b11313959105c9dd6ac30fcd12834627dccd549c192c5f6c1e5:0418a1f77888e72818b382c4978141fde5df7dc06e6b4086f0cf15494ebd34e2&#x27;, &#x27;aib_bronze.equity_ohlcv:d50eae816e1f9c8f827850e9db74326b9cb1ea50e025346697b6ed64a02f7c9c:68bf1b663d3de6725de9cb6fd5ede10df304576d2971a3cbd47f46b9eb1c1067&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.12870546573612}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Down 6.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.65%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.652565700592861, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -6.652565700592861, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a9ba7a85a9d6294edce41f6a16998b1afd2f1684a85df8df137fe5c4ba03f265&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;f65dee4d91f9d557175f1eef55974ee1bc4789f6ac8c0e27148baa0b7763d8f0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;65763835c7c616709b8782166ad9e8d9f1375d9ee5d94dd618b25d0bbdbf6bd5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fa2f20f219ad0f42774823497d814b6927dff431a14d4df396ee522655e0a4f6&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-04 03:37:59.065000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ebfca9134cfe37875491eb41d7c48990a41fe389feb8bdbd1c24227ef567a91e:0e5ca86d3a5f9c09650667a9a558b46110d68a912749616dc4e6dd4401ee821c&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b203f8477fe0a55c187d9664793c7798ac49adcbb3533e095aed68a0b52a8262:5e9d9ed674a0b85c21673741abd928b79e092a11925561052f980ed82c80d44d&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;aib_bronze.equity_ohlcv:b203f8477fe0a55c187d9664793c7798ac49adcbb3533e095aed68a0b52a8262:5e9d9ed674a0b85c21673741abd928b79e092a11925561052f980ed82c80d44d&#x27;, &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:ebfca9134cfe37875491eb41d7c48990a41fe389feb8bdbd1c24227ef567a91e:0e5ca86d3a5f9c09650667a9a558b46110d68a912749616dc4e6dd4401ee821c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 86.1856733453335}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.850.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;db99beef1c615baff439a007ad8c50eaa569af1eec708c790ad43c6c30b22479&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9a05c58afb1263b8436c66e072496be743f7d13f52c6a220e0cb50f5e4f5f12f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5d7cffa037f4d90525a3e198226232379cce11399e1a42ec9b3a96304e81c222&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;1916593395ea96e456e84809383d673359f134a8bd3559acf254cbf83fa6c5f2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;751770aba1edcc266d75b7457c814038be2d857a960706d6341819c6b826f158&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;559691c3f921ce7bbcaddc879f152e282c67c655829c2fe5a6a948a893dc08ee&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:c9a17a29f8660d7cdae8e9b574b3a95ed7b942f76882b9ae9b40fe42e83d9c66:b799b2dea0f1e1e8112e3c9f0afd0d09d1cad40bf132171cca58678599ae25b9&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:54479ebf52adee6f055663afb8dbe26a28a60ea68509ce4164018622568b6c36:1b0cffba3433328e633747974738930401ca59327d0773cfef4382fbdf6fb732&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c76fcd76fd2b8127dd44adf9cb5cb947cb507a2605728597db2b8c6834b5133c:d17943194cd248a3767081eab464c9dd3e000a7e87ae201cd4ef5e3ac277b510&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:54479ebf52adee6f055663afb8dbe26a28a60ea68509ce4164018622568b6c36:1b0cffba3433328e633747974738930401ca59327d0773cfef4382fbdf6fb732&#x27;, &#x27;aib_bronze.equity_ohlcv:c76fcd76fd2b8127dd44adf9cb5cb947cb507a2605728597db2b8c6834b5133c:d17943194cd248a3767081eab464c9dd3e000a7e87ae201cd4ef5e3ac277b510&#x27;, &#x27;aib_bronze.equity_ohlcv:c9a17a29f8660d7cdae8e9b574b3a95ed7b942f76882b9ae9b40fe42e83d9c66:b799b2dea0f1e1e8112e3c9f0afd0d09d1cad40bf132171cca58678599ae25b9&#x27;, &#x27;aib_bronze.equity_ohlcv:d5719f56381fbb4d288afea9481245b14cd346fb537b91e1fd4aa9d84b411ef3:f55ae4db179cf42f3b17aac3e6f90a8e99082ed0ba808370061f91c271873869&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8500832870627428}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-04 03:37:52+00:00</li>\n<li>interpretation: Down 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.89%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.8885726139216121, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.8885726139216121, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c3ed4bd6d4700ea04460a469071e0bb95d13ccc7e142c85c76786132c4a0d653&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;80717d42f5004b98c4e86c55d887b59cc252f8293d24aa0a8e5dcbcf92cabce8&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;df009ce603f4bf21f960d99a6a11cde918bf311b8bb6d4e03cec55ddade4262c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-04&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ed1a6d198ae19eaa0efd7b90ee5c7dfa5092ea1b7c51d4a86611a81c38c5f458&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, 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&#x27;aib_bronze.equity_ohlcv:ef26eedced0954ee8c9657e0bd91722312dfde7b855ab79f4590f892006b7cc4:54e9f1611a7b6ab8884e404d9c001970ec20228c06045ef0180a0b2036e39dbb&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;aib_bronze.equity_ohlcv:fda06b99e958a8e5558de8e91ff757deb65e962f5aab9c182a8d2f8b7ff9d8de:6ed1ad047f25f83a6b5288aa693934bde36a7326e8c69a8686a206930c7e0f11&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.94314573180863}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-03</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-03</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-03 / 2026-10-03 18:27:05+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $941B (conditional on an IPO), -2.95% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $2,659.; Probability-weighted bucket midpoint: $941B.; Seven-day implied-cap change: -2.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.94974366941122, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.041, &#x27;full_set_prob_sum&#x27;: 1.0035, &#x27;implied_cap_change_7d_pct&#x27;: -2.94974366941122, &#x27;implied_cap_usd_b&#x27;: 940.5487804878048, &#x27;ipo_by_2026_prob&#x27;: 0.0375, &#x27;no_ipo_by_2026_prob&#x27;: 0.9625, &#x27;volume_24h_total&#x27;: 2658.8799999999997}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-03</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-03</td><td class=\"num\">130,183</td><td class=\"num\">24</td><td>—</td><td class=\"num\">27.82</td></tr>\n<tr><td>CISO</td><td>2026-10-03</td><td class=\"num\">804,810</td><td class=\"num\">24</td><td>—</td><td class=\"num\">38.56</td></tr>\n<tr><td>ERCO</td><td>2026-10-03</td><td class=\"num\">1,371,668</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-1.016</td></tr>\n<tr><td>PJM</td><td>2026-10-03</td><td class=\"num\">2,035,929</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.295</td></tr>\n<tr><td>SOCO</td><td>2026-10-03</td><td class=\"num\">685,666</td><td class=\"num\">24</td><td>—</td><td class=\"num\">22.42</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">53.95</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">51.62</td><td class=\"num\">0</td><td class=\"num\">-2.334</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">54.62</td><td class=\"num\">0</td><td class=\"num\">0.6695</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">54.97</td><td class=\"num\">0</td><td class=\"num\">12.89</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">42.08</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.67</li>\n<li>as of: 2026-10-03</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.01487</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>277 benchmarked model identities; 215 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 3,163,017,349,065</td></tr>\n<tr><td>Claude Sonnet 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 661,163,452,651</td></tr>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,916,817,371,031</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 49,549,310,822</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 4,967,047,916,702</td></tr>\n<tr><td>GPT-6.1 Sol (max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 566,088,950,087</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">4,732,329,485,736</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 106 eligible configurations.</p>\n<p>Usage window: 2026-09-04 → 2026-10-03. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-04 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;b570bd2a0394fb64088b1fbc0d0a91efe356131773a4d3a186777c34088d4b48&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;4e9a505fc1cfab95526f9a4c4a492ca0e5f9415d67b78a118a867460815b5901&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;c78046b29fe900b17eaabea9f17d276e5164121a0f2213d540b4f80669321e65&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-04 03:36:47&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-04 03:36:54&quot;, &quot;record_count&quot;: 1603, &quot;records_hash&quot;: &quot;34070e3d885e91abf73d536b526e4ed6bb32d15d88463384fffa34d6e55ca622&quot;, &quot;snapshot_id&quot;: &quot;736f928eae8337deeee61b7d39f19fcc6af8e06b2cd3b6b04a60599712f1bb26&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;346f3a8ada46aa6a9471387901d3a73a7c393908e7e0be5d962c3b6b8810e524&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;87b9ceee73a0242edfe4c4f87f530cf66dac5b8b1a4e999327467aac4eb88a71&quot;, &quot;f2836177a4a38264f0efade7320493c4b1545958f7f9c221327975495dee5d99&quot;, &quot;79ad118bf2cc87c3f8d851aa849687d53ae284c2130a0b3e4b1bc07dc94aaaba&quot;, &quot;fedcabd61aa0310eeb90b0514445ce7ee9a9d9ebff5a9fc4558c03e6e1385fd1&quot;, &quot;d83c6bbecb3233dfd21e0eab5697e6e67424761e8e9ce4c70888c4de6a4c6f84&quot;, &quot;47f4e1a7d22f3ccfc3765ae6240659983733209acd6b028d59fd92e0e5309490&quot;, &quot;dec4ea5b39afe9d8d651257800bad53679e1b1d1fbc11b0ba2774ff8084b0610&quot;, &quot;73107e3b87fe8da29870214b3676eeff8b8b8c8dbed6ceae6adfa651b04693d9&quot;, &quot;178dcefb2b7f075adb681482e673edb271c85d455b42efd567ab572344a74c9d&quot;, &quot;74e469be965acfd7e4f8be528c5868bef25bbf289b3dbe580495bd45f7bd1d71&quot;, &quot;33b59684776a91187e91cc74eb10488afd992f80e36ce196d8bb44bc8f5a1909&quot;, &quot;c02290d634f25f251bae03e4d86a235468dd5424bce0edbb7f9fb4cfa8589bb6&quot;, &quot;9400cedd5a8be8ce90f2bcd4c0968e246b15b61f50a213697a6b9fc3bc548a69&quot;, &quot;48e9a540acde9f5cf1d5012eccaa42d2d41639dcf2cbbf7d425e991cb08c909c&quot;, &quot;236bdbe9723dd648b0d7dd77881274e92e208079279b6054cbdf7b55687e8189&quot;, &quot;4b90fecdc9fc075bd3f3cbc2f3c4eba27219796a42f1c466a402d912b056ded0&quot;, &quot;09818b4f3b25e2511bea06b7418d35ef52a45193e4bc8a4374c3127f626db995&quot;, &quot;2d01fab521cf033e42189a31fc4da37acdeb717310722cf03eb8ece6c3820ac0&quot;, &quot;9eb50998bc3db2f31ed321dc8c5861a83c7c9da93a099449e562a31d95244a1c&quot;, &quot;5c6f15acc0a26fe925856169c2fec7890e6e410c7c65293c2c0df85f439ced6e&quot;, &quot;061fab178dff6f9c1d8a6154c180035a57d37842fb12452004dad96c6d5a808b&quot;, &quot;b4bad3637a8c5eaf7465fbf135cb492b3978c1db9669424db85e204099371c0c&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-04 03:36:56&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-04 03:36:58&quot;, &quot;record_count&quot;: 770, &quot;records_hash&quot;: &quot;79bc6db459cf0321ce12266f78b62777f24c1a1fb99d79bf4bba35ccba061329&quot;, &quot;snapshot_id&quot;: &quot;a1512bb675f54d7301fc8ff4440a0ea68750246a0f87ebd435648221992fa5d3&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;2407f9f39d3d4a1048202f443e405f0ebebf21c005d4d506d68e826f44b54008&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;5d879bdf72be85dfc39166fd03d49a4673f7364961566ae5ee3efd747aa3c3fb&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-04 03:36:47&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-04 03:36:54&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;978bed80344103f4c9797959ed41362703d9759c3ed7e965a367598b91b83dc8&quot;, &quot;snapshot_id&quot;: &quot;e36a72b18e4df865d6f9a29ad4247cb986ecb703022afad6d34ca444b739bcb4&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;bbff6f44d265ce711f0612def8b98db997aacb154670473341f807f24487f299&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;b69de365c686a66f6692470af9218c073676210ab79ebed66c4d577ebd4f2543&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-04 03:36:47&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-04 03:36:53&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;77b959c9ab98c4f0f09e2a77655c81c537d8916f4ec49f9718fe9ef2abc78332&quot;, &quot;snapshot_id&quot;: &quot;3a69532dfcd248c987503ca812b6bcbbb37aedc8208984e0b2de680865f49a79&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-04 21:44:28</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-04 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-04 03:36:43</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-04 03:36:43</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-04 03:36:54</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-10-04 23:46:12</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-04 23:25:22</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-04 03:38:37</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-04 03:36:44</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">137853</td><td>2026-10-04 03:36:43</td><td>—</td><td>partial: MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; KXIA</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">216</td><td>2026-10-04 22:01:16</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-04 23:26:43</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791156408</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-04 03:36:44</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">466</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">607</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1603</td><td>2026-10-04 03:36:44</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">770</td><td>2026-10-04 03:36:44</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-04 03:36:44</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-04 03:36:44</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-04 05:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-04 03:36:44</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-04 03:36:43</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-05T05:10:09Z",
      "id": "urn:prexel:issue:5f5ece87-bccd-5031-baec-e4255317c8d1",
      "summary": "Prexel daily — period ending 2026-10-04. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 34 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-04-daily-aeeb84b735cf.html"
    },
    {
      "_prexel": {
        "content_hash": "d3ee9d3511c0d5602386fe4fc5456e1cee217a35c6756a73cc0dd9afd863892b",
        "context_hash": "3e18dd3f39e5effb25629a30ec479d211a8f8e33e350424e531dc16cfce47f42",
        "kind": "daily",
        "period_end": "2026-10-03"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 33 (daily)</h1>\n<p>Period: 2026-10-03 → 2026-10-03</p>\n<p>Context hash: <code>3e18dd3f39e5effb25629a30ec479d211a8f8e33e350424e531dc16cfce47f42</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</strong> — conflict across Compute; open since 2 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 2 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ◆ Mixed — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Open-weights token share: ▲ Bullish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Dominion total electricity demand: ◆ Mixed — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-10-03T03:36:46.837360+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-10-03T07:26:08.047710+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Source correction. Published 2026-10-03T07:26:08.047710+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-10-03T07:26:08.047710+00:00.</li>\n<li>Open-weights token share: ▲ Bullish — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-10-03T07:26:08.047710+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 27 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 14 bullish, 5 bearish, 13 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>conflict</td><td>compute_market</td><td>2026-10-02 03:33:59+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-02 03:33:59+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-20 04:42:32+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-02 21:45:19+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=3.016509813384813; b200_h100_ratio_change_14d_pct=0.14018278889231306; b200_offered_usd_hr=7.8127604166666655; band_measured_pct=14.018278889231306; band_pct=5.0; h100_spot_usd_hr=2.59</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 3.016509813384813, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.14018278889231306, &#x27;b200_offered_usd_hr&#x27;: 7.8127604166666655, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 14.018278889231306, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 14.018278889231306, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.59}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-02 21:45:19+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-02 21:45:19+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.19118943082180223; h100_depth_smoothed_3d=30.600000381469727; h100_dispersion_smoothed_3d=2.4970407485961914; h100_price_change_14d_pct=-0.04161588927595581</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.19118943082180223, &#x27;h100_depth_smoothed_3d&#x27;: 30.600000381469727, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.4970407485961914, &#x27;h100_price_change_14d_pct&#x27;: -0.04161588927595581}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-02 21:45:19+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=-3.717474167037299; band_pct=8.0; h100_spot_usd_hr=2.59; spot_trend_30d_pct=-0.03717474167037299</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.717474167037299, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: -3.717474167037299, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.59, &#x27;spot_trend_30d_pct&#x27;: -0.03717474167037299}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:23:56+00:00</li>\n<li>interpretation: Up 16.1% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 16.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 16.153130566735285, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 16.153130566735285, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2900520332, &#x27;total_tokens&#x27;: 193115405837411}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:23:56+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.77pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.7703544651082552, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.67561697765262, &#x27;top10_share_change_14d_pp&#x27;: -0.7703544651082552}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:23:56+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 11 cuts, 10 raises.; Fixed-basket price at prior-day token weights: $0.541/Mtok.; Seven-day like-for-like change: -1.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.5033506531764496, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 350, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.5413297541426276, &#x27;like_for_like_change_7d_pct&#x27;: -1.5033506531764496, &#x27;price_cut_model_count&#x27;: 11, &#x27;price_raise_model_count&#x27;: 10}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:23:56+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -10.76%.; Token-weighted effective price: $0.546/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.76440905939302, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -10.76440905939302, &#x27;effective_price_usd_mtok&#x27;: 0.5459522273344121, &#x27;matched_model_count&#x27;: 350, &#x27;total_standard_tokens&#x27;: 151178451912235, &#x27;unmatched_token_share&#x27;: 2.496893067379337}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-02 03:31:54+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +150.4%.; Trailing three complete months: 149 new listings (49.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 150.42016806722688, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 150.42016806722688, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 149, &#x27;trailing_3mo_rate&#x27;: 49.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▲ Bullish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:23:56+00:00</li>\n<li>interpretation: The open-weights token share is falling through its band — substitution pressure on closed-model pricing power is easing.</li>\n<li>evidence: Fourteen-day share change: -14.82pp.; Open-weights share of routed standard tokens: 52.6%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -14.823499864538974, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -15.191715086526045, &#x27;chinese_lab_token_share&#x27;: 50.82412927379744, &#x27;matched_model_count&#x27;: 350, &#x27;openweights_share_change_14d_pp&#x27;: -14.823499864538974, &#x27;openweights_token_share&#x27;: 52.58631575062472}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:24:05+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $45.18/MWh vs prior 14-day $42.11/MWh (+7.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.298232985534117, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 45.1827625140056, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 42.10951220426632, &#x27;caiso_da_trend_pct&#x27;: 7.298232985534117}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:24:05+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.40 MMBtu/MWh vs prior 14-day 14.43 (-0.2%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.24561030616412335, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.396490058196378, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.431936381327969, &#x27;caiso_heat_rate_trend_pct&#x27;: -0.24561030616412335, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:24:05+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY -1.29% vs control mean +11.25% (gap -12.54pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -12.540022270271422, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 9.958988111692705, &#x27;dc_load_premium_pp&#x27;: -12.540022270271422, &#x27;erco_load_yoy_7d_pct&#x27;: 12.550329699024696, &#x27;pjm_load_yoy_7d_pct&#x27;: -1.2853633649127225}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:23:57+00:00</li>\n<li>interpretation: Dominion total electricity demand is tracking the same week last year within the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +1.41% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.4127464753955177, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 1.4127464753955177, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Down 14.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -14.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.030512945373609, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -14.030512945373609, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;3facb12560e174b508aa9e67201e90846db9706fd5bcb7f9ba528e9472cbeacd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 54.84768240764627}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: PJM load z-score is withheld: the 28-day weekday baseline has at most four observations.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Down 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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&#x27;aib_bronze.equity_ohlcv:fe31c8dfea82be24cef4fa4e16d6d75769ba89f5fa8f506191059f4ea4f042f2:b51876da5c6f4f611793aab2c386f89cbf85663d9e7d9eab2c64f6de46de925d&#x27;, &#x27;aib_bronze.equity_ohlcv:fefef14cf3ed0f5bcfbfdd5e45269bef8c3e8e02a98c58d5c37440bf9b40ce28:736c8fe35a206a8d90299660fffb072e5a0e7e7b3862dcf10d213e490fd49fff&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.98475078439283}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Up 3.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.769393834837098, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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07:25:00+00:00</li>\n<li>interpretation: Up 11.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 11.79%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.793904412711642, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 11.793904412711642, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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15.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 15.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 15.009471649302085, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 15.009471649302085, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:e9ebe888480ca63a4445bfa94ad6b082d0dfe1b00c20aa0c57e5b2d6d831f69f:a0d559fee8cb9922cf7ea30939d991de71777ff4de940fffaafa26b087cc1661&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 145.88764541885772}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Up 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.02%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:e14337285aa81aa0d734e0566aa67b91b27fa89bf56b533b68ec911e17712946:77de20ca221a5f0bee0591ce6623b3c97555ae508609b4707c316dd437a892fb&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b209e17677e26c4a7f338caa75e8f75e06d651cf68116442b110783d4de7b6b9:53fd8ec05fcbfc2c6faa72042bd5da5e0f5c5e72a4662ede3794e0d8e34bee71&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e6424a61f45c825001915cec1fd032a38eecb0f763ceadbd9ec688472f30eeaf:3bb14ed0f0a2431d369d275f048720fe3d8071039223813cff277da451f67143&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2d10010c7d2ffa664ae6d335932bad754337bfbd56be83c00ca0c1631e36d715:861de179006a0ae6bc9ae01268eb81f683f96b65488a769f3410c8fb50285431&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:b209e17677e26c4a7f338caa75e8f75e06d651cf68116442b110783d4de7b6b9:53fd8ec05fcbfc2c6faa72042bd5da5e0f5c5e72a4662ede3794e0d8e34bee71&#x27;, &#x27;aib_bronze.equity_ohlcv:e14337285aa81aa0d734e0566aa67b91b27fa89bf56b533b68ec911e17712946:77de20ca221a5f0bee0591ce6623b3c97555ae508609b4707c316dd437a892fb&#x27;, &#x27;aib_bronze.equity_ohlcv:e6424a61f45c825001915cec1fd032a38eecb0f763ceadbd9ec688472f30eeaf:3bb14ed0f0a2431d369d275f048720fe3d8071039223813cff277da451f67143&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.7617682609932}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.59%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 02:48:25.711000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9b5531048852b7cc56fbfc30f50d546ac2f29ac5bdde389ff0cb97e57d4bb584:1af61c5647749b0f85493c3ba3c1735c53ea18fb84ca6c6f462bd535a038ac3e&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:504e57b73be86212592859c3ec1191596f385a208e34e04dc43b58f5b8741ea3:5624d1d07cf7fd28a6e7170e677c6baf7f4deb25ec7ca297bb4c52e62de716bc&#x27;, 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&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:1065d7dac93c5c6b1465863ee51f03998dc47430340f265f5f9915131a9d08b8:27bd71f9e79001cfc8b6ca912844e68cf41996e15097ff463a2a0dcbae4ae772&#x27;, &#x27;aib_bronze.equity_ohlcv:504e57b73be86212592859c3ec1191596f385a208e34e04dc43b58f5b8741ea3:5624d1d07cf7fd28a6e7170e677c6baf7f4deb25ec7ca297bb4c52e62de716bc&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:9b5531048852b7cc56fbfc30f50d546ac2f29ac5bdde389ff0cb97e57d4bb584:1af61c5647749b0f85493c3ba3c1735c53ea18fb84ca6c6f462bd535a038ac3e&#x27;, &#x27;aib_bronze.equity_ohlcv:afc7353b437c935d55c789d323758ead05fa7cecfcd0bb30bc0ac90a885c160e:31bf1ead92408cd34225e9ee44a9467ceb3158829d6363f69f1391b35dfd6825&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.7312118417713}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.40%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.39680129016301, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -4.39680129016301, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1928836586b3d0c4dfa13a7a69bf9ce0937be114d5cb04975a408fa80c16bfef&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;37b4f565d7a3ac1b7a74c7190286647118d837657df7fda59f18cd14621c82d2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a2c5221cbeb376d5c63e88c6331e9cb7179279b3790ef2ccc982cbdfecfe73da&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;49fa701cee22e0a7dc4371e37e668efabb5eaa08241bfc193d503528c8daca98&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 02:48:25.711000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7e453229b6df5d8acc7712f04893d553bef49602b58def1f9a52ec0eb6c7453b:1c989645bc4b3adfa3e2ea63c3149a441a8c6554c564bf85eb62c8b4917c9be2&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c7c96d40e221dea783e6d4c3b3426f2ce6b4756324402df904f1826ed25e80e9:e0beeee792cf93478ac864f8b4c35be2a0cd780665f3f2241ce21d1c06e3f88a&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:7e453229b6df5d8acc7712f04893d553bef49602b58def1f9a52ec0eb6c7453b:1c989645bc4b3adfa3e2ea63c3149a441a8c6554c564bf85eb62c8b4917c9be2&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:c7c96d40e221dea783e6d4c3b3426f2ce6b4756324402df904f1826ed25e80e9:e0beeee792cf93478ac864f8b4c35be2a0cd780665f3f2241ce21d1c06e3f88a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.29840555709117}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Up 4.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.943607879744105, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 4.943607879744105, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1928836586b3d0c4dfa13a7a69bf9ce0937be114d5cb04975a408fa80c16bfef&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;612bf2b57ad0e747972047e8e78cc4fb424b0b1b16ec2b56121b88d9d4807f97&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f0dc6f6646fd3b724a8fea59938a26b5a5f424bb409ef1d6143763894d2b3cab&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;42789373e6c85734f70267a685552795fc221cb1a3ae013bafca914822940f5a&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 07:25:07.721000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d50eae816e1f9c8f827850e9db74326b9cb1ea50e025346697b6ed64a02f7c9c:68bf1b663d3de6725de9cb6fd5ede10df304576d2971a3cbd47f46b9eb1c1067&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c959eaa287aa7b11313959105c9dd6ac30fcd12834627dccd549c192c5f6c1e5:0418a1f77888e72818b382c4978141fde5df7dc06e6b4086f0cf15494ebd34e2&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:c959eaa287aa7b11313959105c9dd6ac30fcd12834627dccd549c192c5f6c1e5:0418a1f77888e72818b382c4978141fde5df7dc06e6b4086f0cf15494ebd34e2&#x27;, &#x27;aib_bronze.equity_ohlcv:d50eae816e1f9c8f827850e9db74326b9cb1ea50e025346697b6ed64a02f7c9c:68bf1b663d3de6725de9cb6fd5ede10df304576d2971a3cbd47f46b9eb1c1067&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.12870546573612}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Down 6.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.65%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.652565700592861, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -6.652565700592861, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6d293e723684758ec7bf23b66aa9f5f229e2c13319c4e9e3b25d7c9664d87755&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ecdae1fa618d13227acd6c8d91a669f62834e2643f9cd4b0b3fa003eb3d37bea&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1928836586b3d0c4dfa13a7a69bf9ce0937be114d5cb04975a408fa80c16bfef&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;f65dee4d91f9d557175f1eef55974ee1bc4789f6ac8c0e27148baa0b7763d8f0&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;65763835c7c616709b8782166ad9e8d9f1375d9ee5d94dd618b25d0bbdbf6bd5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;59478669fd88b7c18d1b4642919d92718b8a73848cdda47ca84f6d02a704a5a4&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 02:48:25.711000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ebfca9134cfe37875491eb41d7c48990a41fe389feb8bdbd1c24227ef567a91e:0e5ca86d3a5f9c09650667a9a558b46110d68a912749616dc4e6dd4401ee821c&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b203f8477fe0a55c187d9664793c7798ac49adcbb3533e095aed68a0b52a8262:5f6469afdc10a7fd4e3baa826575eae42b72d862a5920459805aa29dce49f02d&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:87f58e6b7c037a53a0909b2a56a91f299d03ce4a17fc7fd0ffa0dd64454df7f4:8f8f8559f220f6caea0aec9ad68289177b4d4aaf20bb2a8539f8dde3027bdd81&#x27;, &#x27;aib_bronze.equity_ohlcv:b203f8477fe0a55c187d9664793c7798ac49adcbb3533e095aed68a0b52a8262:5f6469afdc10a7fd4e3baa826575eae42b72d862a5920459805aa29dce49f02d&#x27;, &#x27;aib_bronze.equity_ohlcv:c2bcdedcbc33fb75e0fc31e7637e9113f6460108100e633c9d2ec665999baa2f:6f2ead41bc55128623cfd4083dca3c0c240a148b3d368adf3bb07d79cd0aef75&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:ebfca9134cfe37875491eb41d7c48990a41fe389feb8bdbd1c24227ef567a91e:0e5ca86d3a5f9c09650667a9a558b46110d68a912749616dc4e6dd4401ee821c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 86.1856733453335}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.850.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 175, &#x27;epoch_values_hash&#x27;: &#x27;db99beef1c615baff439a007ad8c50eaa569af1eec708c790ad43c6c30b22479&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9a05c58afb1263b8436c66e072496be743f7d13f52c6a220e0cb50f5e4f5f12f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 552, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3d6845ca3f234c61ce525476a0629ea491e824aab6eb8c3f6e61f90d57dd6cd3&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;1916593395ea96e456e84809383d673359f134a8bd3559acf254cbf83fa6c5f2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;751770aba1edcc266d75b7457c814038be2d857a960706d6341819c6b826f158&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 544, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;9ca29db4bdc788235d40db183b1d31e302a0dfb268985b2ac987328573dcca9a&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 02:48:25.711000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d5719f56381fbb4d288afea9481245b14cd346fb537b91e1fd4aa9d84b411ef3:f55ae4db179cf42f3b17aac3e6f90a8e99082ed0ba808370061f91c271873869&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c9a17a29f8660d7cdae8e9b574b3a95ed7b942f76882b9ae9b40fe42e83d9c66:b799b2dea0f1e1e8112e3c9f0afd0d09d1cad40bf132171cca58678599ae25b9&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:54479ebf52adee6f055663afb8dbe26a28a60ea68509ce4164018622568b6c36:1b0cffba3433328e633747974738930401ca59327d0773cfef4382fbdf6fb732&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c76fcd76fd2b8127dd44adf9cb5cb947cb507a2605728597db2b8c6834b5133c:d17943194cd248a3767081eab464c9dd3e000a7e87ae201cd4ef5e3ac277b510&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:54479ebf52adee6f055663afb8dbe26a28a60ea68509ce4164018622568b6c36:1b0cffba3433328e633747974738930401ca59327d0773cfef4382fbdf6fb732&#x27;, &#x27;aib_bronze.equity_ohlcv:c76fcd76fd2b8127dd44adf9cb5cb947cb507a2605728597db2b8c6834b5133c:d17943194cd248a3767081eab464c9dd3e000a7e87ae201cd4ef5e3ac277b510&#x27;, &#x27;aib_bronze.equity_ohlcv:c9a17a29f8660d7cdae8e9b574b3a95ed7b942f76882b9ae9b40fe42e83d9c66:b799b2dea0f1e1e8112e3c9f0afd0d09d1cad40bf132171cca58678599ae25b9&#x27;, &#x27;aib_bronze.equity_ohlcv:d5719f56381fbb4d288afea9481245b14cd346fb537b91e1fd4aa9d84b411ef3:f55ae4db179cf42f3b17aac3e6f90a8e99082ed0ba808370061f91c271873869&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8500832870627428}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-03 07:25:00+00:00</li>\n<li>interpretation: Down 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.89%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.8885726139216121, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.8885726139216121, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;0e6082c8dc5934f0944fd75f03fdb5c2e246d1dc0400dbec713604c66ba228d9&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7c695e9b4256dec864203080f51ba27aad3620c3a69209c109806faa3957a3d4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8403cae1703057818bed8ff717aa9749cc86c0822c07f8bf2bfdc55f2d344a0a&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;6ddf9dadef76a4ff9d3b87e864b91c5c7338c1ecdfbae025a25f1c890328c09f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;72efc6c93bacb35793caf561fd7f56e77397d2374e9f2f875da74b4fac2aaf9f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;28c51920cdf6d3661dbdb17dc238f4cd08287ad98c4cda6cd41de4a77fb8e934&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;9e5bddb837d53706326741bd9647d95e7d2dfcc3f7a4ea4328a59ba1cf29a739&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;1873f0cdb39ffcd3039ebc1f7a99bf087cf57de535c3dd6de0d0573fcd7d5866&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7d79dc2854fda07bd94e0783f6809b3a54aafa46abbdd757d4d12756e77152bb&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 169, &#x27;epoch_values_hash&#x27;: &#x27;80717d42f5004b98c4e86c55d887b59cc252f8293d24aa0a8e5dcbcf92cabce8&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;df009ce603f4bf21f960d99a6a11cde918bf311b8bb6d4e03cec55ddade4262c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-03&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 533, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;04d857cc59dc553b2b304f9e15d905b42774de73e4f5af4baae58c88744fc2ae&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-02&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-03 02:48:25.711000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:874409db0f80e1cf6b84c090023bba3fb2447219c6ded2d056513a6e632fba35:6920ad01b0401603d65f336b83e6d62bb95782a2f2573731bbd8a954da1f8871&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:ef26eedced0954ee8c9657e0bd91722312dfde7b855ab79f4590f892006b7cc4:1fc1fb5410b5e08dfe1f027b83b488ea776d8c22fe2cb5ee69b9512987660d2f&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;aib_bronze.equity_ohlcv:fda06b99e958a8e5558de8e91ff757deb65e962f5aab9c182a8d2f8b7ff9d8de:6ed1ad047f25f83a6b5288aa693934bde36a7326e8c69a8686a206930c7e0f11&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.94314573180863}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-02 / 2026-10-02 21:19:06+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,002B (conditional on an IPO), -3.64% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $849.; Probability-weighted bucket midpoint: $1,002B.; Seven-day implied-cap change: -3.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.6392405063291, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.038, &#x27;full_set_prob_sum&#x27;: 1.0065, &#x27;implied_cap_change_7d_pct&#x27;: -3.6392405063291, &#x27;implied_cap_usd_b&#x27;: 1001.6447368421053, &#x27;ipo_by_2026_prob&#x27;: 0.0375, &#x27;no_ipo_by_2026_prob&#x27;: 0.9685, &#x27;volume_24h_total&#x27;: 849.0600000000001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-02</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-02</td><td class=\"num\">139,614</td><td class=\"num\">24</td><td>—</td><td class=\"num\">19.08</td></tr>\n<tr><td>CISO</td><td>2026-10-02</td><td class=\"num\">791,162</td><td class=\"num\">24</td><td>—</td><td class=\"num\">20.46</td></tr>\n<tr><td>ERCO</td><td>2026-10-02</td><td class=\"num\">1,427,570</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-1.482</td></tr>\n<tr><td>PJM</td><td>2026-10-02</td><td class=\"num\">2,328,881</td><td class=\"num\">24</td><td>—</td><td class=\"num\">12.01</td></tr>\n<tr><td>SOCO</td><td>2026-10-02</td><td class=\"num\">714,472</td><td class=\"num\">24</td><td>—</td><td class=\"num\">20.13</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">52.65</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">46.06</td><td class=\"num\">0</td><td class=\"num\">-6.59</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">49.32</td><td class=\"num\">0</td><td class=\"num\">-3.33</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">107.29</td><td class=\"num\">0</td><td class=\"num\">21.04</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">86.25</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.59</li>\n<li>as of: 2026-10-02</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: -0.03717</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>277 benchmarked model identities; 215 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 2,830,484,481,396</td></tr>\n<tr><td>Claude Sonnet 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 531,179,927,672</td></tr>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,991,647,339,709</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 89,966,449,885</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 4,883,245,486,915</td></tr>\n<tr><td>GPT-6.1 Sol (max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 430,036,901,609</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">4,890,120,977,181</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 106 eligible configurations.</p>\n<p>Usage window: 2026-09-03 → 2026-10-02. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-03 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;1001b92bb8458f0782436cc53eea20eff53c53caa4bceaa7004b38791ba8e946&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;f19e31d0d33aaf02ffb1a1964b19b5cc5ff2e769b04770dd7ffe2527cf7eeaeb&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;41d69bcae000be40288b471f756d648f8ba58769617db58071a3b0ee84ad12ed&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-03 07:24:01&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-03 07:24:04&quot;, &quot;record_count&quot;: 1603, &quot;records_hash&quot;: &quot;715c7ebd7d38d6720cca0d689b12d1582bc67020a2909add91f4d912815ca68b&quot;, &quot;snapshot_id&quot;: &quot;98801bb0e500dafd9e461f4907e9d0b4bb0d348bf5e4e3b2be5844ccee488562&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;d1f95decdd9e1c66cea162524e919a5704285dbfc82f01c85bb74b8157e895e2&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;b618b0bfd7834e11adf9b05c1fca41172cdfe6076752cd0bb8b28b48e4a7ceec&quot;, &quot;df7658b025b727dd93c3fd81e41467ec09b5a247a8eb92b6133759d14effc2d0&quot;, &quot;738bce8f902e8e5acc227dd978aa7c399caa9a3482cf7783d088186516aa5ffc&quot;, &quot;3b72e0500f39c5ca796bf825319a5dc0cd030a9f725120e5d9d01d5388a34e8f&quot;, &quot;86a04754910d418c68eb6532213e20bbc0351c1c35cc8b3a6b09c2b5977def32&quot;, &quot;33228b6a9e61e0ad2cd087e81284fc27da7cdd6480c07b100022aa856ef6a02e&quot;, &quot;085ebec98484caeb3bb5eb39bfdc136a538e459ae764de5e6181e80ef04b769e&quot;, &quot;b433edfd13f87e6be58c12e9d63f50c8e615cd04173a508dc603f86eca117fba&quot;, &quot;55eba5c3f6c134342a9b322211c16ab5dec758428ba43aef4be3b571b7f57473&quot;, &quot;66cbd1f66c7c0a7353901c678f6d19b8133c2f9cba299889eae1f4b64f338cf7&quot;, &quot;8b33cc2de0144f10a3c87ff584fa43395ded8c0fc7113909f8da33db74a917fa&quot;, &quot;dc3f04053267e802ee7386cafac00bd0cd2c688f86f4a37ff004ec411b981f82&quot;, &quot;93cd06b51ae50c594e5468b0215f85ebb36131b79a4cafc4e7ef82a917ce815c&quot;, &quot;713a9ac33bce0269e5e639803b67dbc5663b508806eee5d9c3497d987ad5575e&quot;, &quot;34b46a17e67f28fa71cbba8b75242e31c09f2f5dd8cf3ce4051b169a662fd1a4&quot;, &quot;fe546ab774edb5cca17cea8c0ffb5310287e393726643d76cc11a4eef917ee42&quot;, &quot;6fa10296cc2201c8139eed5163cd66d54b476fa19c4e51c6c9e7363ba405cd99&quot;, &quot;89d3e0c76542e1ef48e682986e6b04171d60bce869a3d5662cc653e0b94cd605&quot;, &quot;babdaa0c2f3879ef5fcdfa9e88a5238945b006210b505c581a4ee69d5b1de026&quot;, &quot;5aced31d98d89f2e29eebb34538e788547f3b76f04f76e118f89bc66c5a985e3&quot;, &quot;9b6e0f21c22c646862c9a8b4e20537ea2a8898a48f51d61e995e8db431f97bed&quot;, &quot;2212b086cb3b99d404e72a964e99b8577199b99baeec88840cc7f16e5485da9f&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-03 07:24:07&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-03 07:24:08&quot;, &quot;record_count&quot;: 769, &quot;records_hash&quot;: &quot;f72d3a05bf29dbc99a1499ad823617a7e911708e75cf3ba761f8b3c8b1e7e9bc&quot;, &quot;snapshot_id&quot;: &quot;dedc894fa6f48fc1eec7d7078330e8fe23e20d5d184af6d3312c82e59f16c8b9&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;69f092f5b607480992848872d2c1061dd4ba6f65dbd41b691c041918ab5d65a8&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;ac4e8cabf38746538ed2c0718c1a955f1955cedf59cf2520d5101d81ccd515f4&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-03 07:24:01&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-03 07:24:05&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;5d7b797720460c308de168638875d3f306599ba8d18627fa3d8aa073db3e6898&quot;, &quot;snapshot_id&quot;: &quot;ee90a3ad3395071b3cf69a4131a59408f5156eaa65fde8bf431ebec3533b2411&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;56e62023781ff3975acc58e6f506119f9adcbbd535277327b1481db7ac004bc7&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;591234b8dd00286dc6071048fd5a4ef4c2c48bb4922f4f5e245aba0a2e61bdcb&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-03 03:34:38&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-03 03:34:44&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;a7f08d27cfc9b933a02eb3e3a37e51dc1a05588bbff46574fe3759ea0fa37915&quot;, &quot;snapshot_id&quot;: &quot;9f77f5a978399d87cc07f033520c8b79c9399b535eaf484a1dc41b5720ca63bc&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-03 18:27:05</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-03 05:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-03 07:23:53</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-03 07:23:53</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-03 07:24:04</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-10-03 23:00:39</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-03 23:16:23</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-03 07:25:47</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">137852</td><td>2026-10-03 07:23:53</td><td>—</td><td>partial: MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; KXIA</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">217</td><td>2026-10-03 19:14:25</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-03 23:21:02</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1791069668</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">466</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">605</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1603</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">769</td><td>2026-10-03 07:23:54</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-03 07:23:54</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-03 07:23:54</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-03 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-03 07:23:53</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-04T05:10:08Z",
      "id": "urn:prexel:issue:b00a496a-bfc3-57a1-8844-56b294177417",
      "summary": "Prexel daily — period ending 2026-10-03. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 33 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-03-daily-d3ee9d3511c0.html"
    },
    {
      "_prexel": {
        "content_hash": "29e6eefeccc7d00159b0c0b37d671ad8eeea064a43995294cc1a61110d0329d0",
        "context_hash": "769cf40bca8b670912265cb07760a4d8f630e1141cbaf7df71948ad84fd9e01e",
        "kind": "daily",
        "period_end": "2026-10-02"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 32 (daily)</h1>\n<p>Period: 2026-10-02 → 2026-10-02</p>\n<p>Context hash: <code>769cf40bca8b670912265cb07760a4d8f630e1141cbaf7df71948ad84fd9e01e</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</strong> — conflict across Compute; open since 2 Oct.</li>\n<li><strong>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</strong> — alignment across Compute; open since 2 Oct.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Open-weights token share: ▲ Bullish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>CAISO implied heat rate: ◆ Mixed — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Dominion total electricity demand: ▼ Bearish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-02T03:34:01.223550+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 28 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 14 bullish, 8 bearish, 10 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 2</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>INFERENCE_PRICE_VS_GPU_COST_SQUEEZE</td><td>conflict</td><td>compute_market</td><td>2026-10-02 03:33:59+00:00</td><td class=\"num\">90</td></tr>\n<tr><td>TOKEN_DEMAND_VS_GPU_SUPPLY_TIGHTENING</td><td>alignment</td><td>compute_market</td><td>2026-10-02 03:33:59+00:00</td><td class=\"num\">30</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-20 04:42:32+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-01 21:05:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.916265250224649; b200_h100_ratio_change_14d_pct=0.1076798347276788; b200_offered_usd_hr=7.812890625; band_measured_pct=10.76798347276788; band_pct=5.0; h100_spot_usd_hr=2.679074074074074</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.916265250224649, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.1076798347276788, &#x27;b200_offered_usd_hr&#x27;: 7.812890625, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.76798347276788, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 10.76798347276788, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.679074074074074}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-01 21:05:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-01 21:05:56+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.3668965600520619; h100_depth_smoothed_3d=30.6; h100_dispersion_smoothed_3d=2.497040804531268; h100_price_change_14d_pct=-0.043946613347626146</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.3668965600520619, &#x27;h100_depth_smoothed_3d&#x27;: 30.6, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.497040804531268, &#x27;h100_price_change_14d_pct&#x27;: -0.043946613347626146}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-10-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-01 21:05:56+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=0.42343471988250947; band_pct=8.0; h100_spot_usd_hr=2.679074074074074; spot_trend_30d_pct=0.004234347198825095</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.42343471988250947, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 0.42343471988250947, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.679074074074074, &#x27;spot_trend_30d_pct&#x27;: 0.004234347198825095}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:31:54+00:00</li>\n<li>interpretation: Up 14.2% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 14.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 14.153515407191941, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 14.153515407191941, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2847153488, &#x27;total_tokens&#x27;: 188066544426016}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:31:55+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.77pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.6%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.7694982566513318, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.5793848821676, &#x27;top10_share_change_14d_pp&#x27;: -0.7694982566513318}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:31:55+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 9 cuts, 10 raises.; Fixed-basket price at prior-day token weights: $0.515/Mtok.; Seven-day like-for-like change: -7.97%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.972894200208069, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 348, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.5154310584406374, &#x27;like_for_like_change_7d_pct&#x27;: -7.972894200208069, &#x27;price_cut_model_count&#x27;: 9, &#x27;price_raise_model_count&#x27;: 10}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:31:55+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -19.99%.; Token-weighted effective price: $0.526/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -19.992100215377107, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -19.992100215377107, &#x27;effective_price_usd_mtok&#x27;: 0.5257883568093323, &#x27;matched_model_count&#x27;: 348, &#x27;total_standard_tokens&#x27;: 149180787340159, &#x27;unmatched_token_share&#x27;: 2.4993043071822587}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-01 / 2026-10-01 09:24:49+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 19.8 listings/month.; Relative change: +150.4%.; Trailing three complete months: 149 new listings (49.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 150.42016806722688, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 19.833333333333332, &#x27;listing_rate_change_pct&#x27;: 150.42016806722688, &#x27;newest_complete_month&#x27;: &#x27;2026-09-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 149, &#x27;trailing_3mo_rate&#x27;: 49.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▲ Bullish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:31:55+00:00</li>\n<li>interpretation: The open-weights token share is falling through its band — substitution pressure on closed-model pricing power is easing.</li>\n<li>evidence: Fourteen-day share change: -13.40pp.; Open-weights share of routed standard tokens: 53.5%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -13.404314233874302, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -13.307801021281222, &#x27;chinese_lab_token_share&#x27;: 51.7080283809962, &#x27;matched_model_count&#x27;: 348, &#x27;openweights_share_change_14d_pp&#x27;: -13.404314233874302, &#x27;openweights_token_share&#x27;: 53.543178538379166}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:15+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $43.63/MWh vs prior 14-day $42.14/MWh (+3.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.5347087699675352, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 43.62768299019608, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 42.13821964489963, &#x27;caiso_da_trend_pct&#x27;: 3.5347087699675352}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:15+00:00</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.09 MMBtu/MWh vs prior 14-day 14.43 (-2.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.395852463388777, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.08862520215854, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 14.434453409752807, &#x27;caiso_heat_rate_trend_pct&#x27;: -2.395852463388777, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:15+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY -4.80% vs control mean +11.58% (gap -16.37pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -16.374919085372586, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 8.225537552854691, &#x27;dc_load_premium_pp&#x27;: -16.374919085372586, &#x27;erco_load_yoy_7d_pct&#x27;: 14.92721906436305, &#x27;pjm_load_yoy_7d_pct&#x27;: -4.7985407767637165}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▼ Bearish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:00+00:00</li>\n<li>interpretation: Dominion total electricity demand is below the same week last year, beyond the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY -3.44% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.4445801338429, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: -3.4445801338429, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Down 13.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -13.35%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.352423464279584, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -13.352423464279584, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;862e0208ad45ed7d4a9bc2eafd1b040b847fccf80a172621d976a6e7038ac9cd&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-10-01</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Down 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.57%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.565367460235224, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.565367460235224, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;390c231c4364226e10cb3c5d2c59d241059f72fc2ef9fce1593f42873bf665da&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f980145cab2e1ac956702365d75fdc5a2ec891809eb180e93642ab0fd24266cc&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5d3bf993094868d18d58d44c99a580752e95651fd9c2252af0b9dddacb7241a0&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;188204008f4e20d9e647285fe9f7eae289da89050eeb33b6a9fb0a72d6e1faff&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7d5ce458425745b05dd7ba89f10d5713af27ae7532a911bdd53ddfa416078b4b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;8d670a83923009e824f0587fa2630f28559ba476aee074448614e63213ac93d8&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;4e387657f5cb5ca9ae2e48f20271035c8b28505746ac9a1bdaca508600233d60&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dee778efc10fd5952c91a50dbaa39eb0e4bd871965e62a1fb5c17e38fa90c8f4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;aefe5592b21beb9d632e88c1b2cd514d140dffe00b133f09964030b5e9cc7cc7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;828cf96ee1757e50f9bd0b2939f8b205869dc731638758db9cf62b651dc24aa2&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7c541f1afcdb2be3d46da90d132e9285bb441f5cbf48051fb69bd15642c282be&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7503833009ef31d6d3b81c24025519817ffe2a6870a79945327a4e1853202a85&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-01&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-02 03:33:05.280000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5013b55f7b0de1b78fc194105829b14db2b35524e2bc9f29dec8b50ca27618fb:1738a30595502f01677d189fd27c594e8cb8c8a5ffb08324f5baf7cb4ca77dc7&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:474a1fe21c00bd2dbd26e66cb13c2989889c56fae7cd296649aabae791d633fd:dfbd335afe28360a2a437275a13d3cebe7de10259bc6c2ad4c2ed7c79f9a824b&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:90a510f5b17d043242d97d7e1f598e8de7a502b9d5771efcb51337184c4ddf5b:528ae76920d0eec276319a382d6a3d3f186c7cf2dc603e022d61e2942426933b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:474a1fe21c00bd2dbd26e66cb13c2989889c56fae7cd296649aabae791d633fd:dfbd335afe28360a2a437275a13d3cebe7de10259bc6c2ad4c2ed7c79f9a824b&#x27;, &#x27;aib_bronze.equity_ohlcv:489573209b0edce2f2a01a9ff9daa3c5937ef6b99e93a4cb1d5f31a7c6f95713:d0824d1f78f05f7ad11457f7fc834635cfee078b88bd0c35785e53f33160fc4d&#x27;, &#x27;aib_bronze.equity_ohlcv:5013b55f7b0de1b78fc194105829b14db2b35524e2bc9f29dec8b50ca27618fb:1738a30595502f01677d189fd27c594e8cb8c8a5ffb08324f5baf7cb4ca77dc7&#x27;, &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:62e0990d228e56a47b8d9108a74218bf60362b1b20d5f755e86f2a64e5e7d194&#x27;, 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&#x27;aib_bronze.equity_ohlcv:dde5a7e40356f15c99bd8873a08ce9301a936bfc0edc9b0c43cc33aefcd50ae2:ecdb27a07b933d90d1139f1e54c5d9d7351cddc8e7cb2a63131d92313ab8b983&#x27;, &#x27;aib_bronze.equity_ohlcv:fbc1563c15ea46a25223e1542dc8bbec6e7b71fc0a4028ff4def3c49cd6a5610:decaeb4f0a1433ecd878714255ceea0bda580c33359c256d999a30ab82226223&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.12008871148015}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Up 3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.5827329866434665, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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03:32:57+00:00</li>\n<li>interpretation: Up 10.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 10.76%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.755879332900165, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 10.755879332900165, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.410039252108256, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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13.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 13.13%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 13.126932031960692, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 13.126932031960692, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fbc1563c15ea46a25223e1542dc8bbec6e7b71fc0a4028ff4def3c49cd6a5610:decaeb4f0a1433ecd878714255ceea0bda580c33359c256d999a30ab82226223&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 143.51655949508083}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;49bc0992fcd3c72327e5edc0b90f6b75b3c187bb004312cd0e0a50a46a0090c7&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, &#x27;JBBB.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;c5109ac3c39e3847eba5373c221f2d4cb929200ed62926cf113197dd04e21043&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;503b3f2694bc86e4f5528866f426664ce17213921cde0cad1a7f808fb03b1406&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;98abab0edeb90edf7e207ef2cceef7afa6941fa8fa8bb2839fc4379bb53c72e2&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-01&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-02 03:33:05.280000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:994366478063ff88482a1219917780c5486fb6df5b6595099380cba15e172d32:2ea4b73b20e11f510ec8c181353f7446e229a7641c2d14a182bcf22b8c134151&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:72936bcc031a44bd8ecd12d11b70d662f878b22c8a9ce8eec80a8386feae4097:19fd4ea0e06d294d620b57597c51b4e3e93646d3f332403d9111716588f50b99&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:abddd8391bd5217cc804baa4e8e63f61c4b671dc8f4232528c8844b249d3e737:864d70f8f3ff9793d98270456f1ed866b475457863c7dec38abdd7e7a1c3edfe&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:51caecfdc91ab496bdb95cecf2a2e56860b376118d13ffde071579ebae50fda4:c833fd1e43198d1159d2391dff2386b1fcc5cc7ee249fd7de3b6ec87882442b1&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:2cb0efe603f9ad24638198e0b55dcd0b3de83d2a9397de8821a61af127657903&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:51caecfdc91ab496bdb95cecf2a2e56860b376118d13ffde071579ebae50fda4:c833fd1e43198d1159d2391dff2386b1fcc5cc7ee249fd7de3b6ec87882442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:72936bcc031a44bd8ecd12d11b70d662f878b22c8a9ce8eec80a8386feae4097:19fd4ea0e06d294d620b57597c51b4e3e93646d3f332403d9111716588f50b99&#x27;, &#x27;aib_bronze.equity_ohlcv:994366478063ff88482a1219917780c5486fb6df5b6595099380cba15e172d32:2ea4b73b20e11f510ec8c181353f7446e229a7641c2d14a182bcf22b8c134151&#x27;, &#x27;aib_bronze.equity_ohlcv:abddd8391bd5217cc804baa4e8e63f61c4b671dc8f4232528c8844b249d3e737:864d70f8f3ff9793d98270456f1ed866b475457863c7dec38abdd7e7a1c3edfe&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.65373649119776}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.2715637013078753, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.2715637013078753, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;2d0dbb7a1d2839e54901b6f512af01995f394f55bee7d3e1c8944e1c33ec0f98&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;237c8956d876d92c80f8ed6e5578a3dd2e4f1c2e24ac9d1d0c5c6edebd01e7f8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b43fd406bb919fb1f9a4d15ff7cf12a2f72a4e4020705d9d828236e8f6cc762e&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;0a3427e5d747f767c603c632457945ddb79bd40867d815b6e0ab9d1329d9c53e&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;38c24dbe4d447589593d53ca1d69327cd8b1590b6e3d34dae5e221a914a3b4de&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b3a915453cff645bcfcaca8af872068a73983e1372ada5a60e47c1a7496f1277&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-01&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-02 03:33:05.280000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:366c2830406939903039365e0675ad79fc7a2e4b336241436916ed7c9deea4dc:8150f74553743ea5aff79a1a07866da65db59c4128ec608475e32bac940edcae&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d179d05fb92823b510e74e86bee161f0a34333d7edb76c43b40953a6f72fe157:60c0844555832042368d5c95acf5f2a13e0d80f9afb49e1e698e2520e8060864&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7597d742fc59b15c53eb97ac22fd5e20c4f1099403dd3cd2da07d0358654311e:688c8f7fbfb9f9ad76d74dab5f05e07f0523a0ed538b66642a9fb1f7b724540d&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b8290b14f640ec5f53800f43d37d8af1b97859d8fb345163d78ddfe9d194f7ae:1ac26b2bde0e4ac051b828e1ec8da194ac5105e0a910bb04b1bd2abe835a0b1d&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:366c2830406939903039365e0675ad79fc7a2e4b336241436916ed7c9deea4dc:8150f74553743ea5aff79a1a07866da65db59c4128ec608475e32bac940edcae&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:f6ed2ebb7c4c651ff06b15e8f203cdf1468f68c34ed0147d11e2515eb5cad2ea&#x27;, &#x27;aib_bronze.equity_ohlcv:7597d742fc59b15c53eb97ac22fd5e20c4f1099403dd3cd2da07d0358654311e:688c8f7fbfb9f9ad76d74dab5f05e07f0523a0ed538b66642a9fb1f7b724540d&#x27;, &#x27;aib_bronze.equity_ohlcv:b8290b14f640ec5f53800f43d37d8af1b97859d8fb345163d78ddfe9d194f7ae:1ac26b2bde0e4ac051b828e1ec8da194ac5105e0a910bb04b1bd2abe835a0b1d&#x27;, &#x27;aib_bronze.equity_ohlcv:d179d05fb92823b510e74e86bee161f0a34333d7edb76c43b40953a6f72fe157:60c0844555832042368d5c95acf5f2a13e0d80f9afb49e1e698e2520e8060864&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.51441620070038}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Down 4.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.026710762672292, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -4.026710762672292, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;4e387657f5cb5ca9ae2e48f20271035c8b28505746ac9a1bdaca508600233d60&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dee778efc10fd5952c91a50dbaa39eb0e4bd871965e62a1fb5c17e38fa90c8f4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;aefe5592b21beb9d632e88c1b2cd514d140dffe00b133f09964030b5e9cc7cc7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;9ad86c47c838188afe9d82eb1444efd820f08b2c2b1fec42c9824adac42034e6&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cead61808313209c630a1af4c188196321d1f9315bdaf20f3f6fcc6f7e35f149&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1ef8d3686a7231652cb0b191635d3fea465a9550bb948f25343de50ff3aa00bb&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-01&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-02 03:33:05.280000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:90a510f5b17d043242d97d7e1f598e8de7a502b9d5771efcb51337184c4ddf5b:528ae76920d0eec276319a382d6a3d3f186c7cf2dc603e022d61e2942426933b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:058eaf4a520faa37232edfe2b9605595ecab37869c22e29acf146e96e8f7f860:ef33211f6eb8ea90ae6c6b7a58f13c842fcaff859b79c2542abf91bd3411d327&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fbc1563c15ea46a25223e1542dc8bbec6e7b71fc0a4028ff4def3c49cd6a5610:decaeb4f0a1433ecd878714255ceea0bda580c33359c256d999a30ab82226223&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4cff2631f064c4e017232a1aa1e15319bb345d4a1f8f302c24b88762661143c1:8667c38f92dcd2beda00779d7c1f60e0e632e4e5e5fc8931fc7a194108a01dac&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:058eaf4a520faa37232edfe2b9605595ecab37869c22e29acf146e96e8f7f860:ef33211f6eb8ea90ae6c6b7a58f13c842fcaff859b79c2542abf91bd3411d327&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:4cff2631f064c4e017232a1aa1e15319bb345d4a1f8f302c24b88762661143c1:8667c38f92dcd2beda00779d7c1f60e0e632e4e5e5fc8931fc7a194108a01dac&#x27;, &#x27;aib_bronze.equity_ohlcv:90a510f5b17d043242d97d7e1f598e8de7a502b9d5771efcb51337184c4ddf5b:528ae76920d0eec276319a382d6a3d3f186c7cf2dc603e022d61e2942426933b&#x27;, &#x27;aib_bronze.equity_ohlcv:fbc1563c15ea46a25223e1542dc8bbec6e7b71fc0a4028ff4def3c49cd6a5610:decaeb4f0a1433ecd878714255ceea0bda580c33359c256d999a30ab82226223&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.66757124706012}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Up 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.4197995129307, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 4.4197995129307, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;4e387657f5cb5ca9ae2e48f20271035c8b28505746ac9a1bdaca508600233d60&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dee778efc10fd5952c91a50dbaa39eb0e4bd871965e62a1fb5c17e38fa90c8f4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;aefe5592b21beb9d632e88c1b2cd514d140dffe00b133f09964030b5e9cc7cc7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;6f02325eff3c5993a21e2942a5bd85cce43f38363bdf453ab1ae4aeaf9c1ffca&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;816862243a89c8bde71d0c1b58bdef18dfcfb416cc86689c41f526ad43e1d3bf&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;c85a130f359e50e2b1ae8ac7dd7ff0d05432c4acce1e4665afb4b7ec3f13a789&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-01&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-02 03:33:05.280000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:90a510f5b17d043242d97d7e1f598e8de7a502b9d5771efcb51337184c4ddf5b:528ae76920d0eec276319a382d6a3d3f186c7cf2dc603e022d61e2942426933b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0ea07e7dbb4fa072866d162f59c8a20c665bbb4616dab1a592a77012d1fa6439:334a05169dc06e65c62995c69881eba225f31a6fcb7d7fa27d77a249decd0308&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fbc1563c15ea46a25223e1542dc8bbec6e7b71fc0a4028ff4def3c49cd6a5610:decaeb4f0a1433ecd878714255ceea0bda580c33359c256d999a30ab82226223&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f3f0092928d8f4c962cf347d7f82120f7314474383087941847972e9170f5838:1cc77b368fdd0641752a8f9d60e752d242030cd672c4983d77411f1c1cc4d6d3&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0ea07e7dbb4fa072866d162f59c8a20c665bbb4616dab1a592a77012d1fa6439:334a05169dc06e65c62995c69881eba225f31a6fcb7d7fa27d77a249decd0308&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:90a510f5b17d043242d97d7e1f598e8de7a502b9d5771efcb51337184c4ddf5b:528ae76920d0eec276319a382d6a3d3f186c7cf2dc603e022d61e2942426933b&#x27;, &#x27;aib_bronze.equity_ohlcv:f3f0092928d8f4c962cf347d7f82120f7314474383087941847972e9170f5838:1cc77b368fdd0641752a8f9d60e752d242030cd672c4983d77411f1c1cc4d6d3&#x27;, &#x27;aib_bronze.equity_ohlcv:fbc1563c15ea46a25223e1542dc8bbec6e7b71fc0a4028ff4def3c49cd6a5610:decaeb4f0a1433ecd878714255ceea0bda580c33359c256d999a30ab82226223&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.83916822299346}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Down 6.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.51%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.50985474914898, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -6.50985474914898, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;4e387657f5cb5ca9ae2e48f20271035c8b28505746ac9a1bdaca508600233d60&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dee778efc10fd5952c91a50dbaa39eb0e4bd871965e62a1fb5c17e38fa90c8f4&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;aefe5592b21beb9d632e88c1b2cd514d140dffe00b133f09964030b5e9cc7cc7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;XLU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 168, &#x27;epoch_values_hash&#x27;: &#x27;392971ec825161eeb7a9f9dc22bf85fccf3735eea18ceb88b1ab988189277659&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ad4ea2211c3631fe0f37d46722e3d192c2aaf2839a4ada81ed03f38574d02200&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 532, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5bbc190840c35756f0538cc5017be1a5931397b0bbf501d09a71e8801afc3463&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-09-01&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-02 03:33:05.280000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:90a510f5b17d043242d97d7e1f598e8de7a502b9d5771efcb51337184c4ddf5b:528ae76920d0eec276319a382d6a3d3f186c7cf2dc603e022d61e2942426933b&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:90a510f5b17d043242d97d7e1f598e8de7a502b9d5771efcb51337184c4ddf5b:528ae76920d0eec276319a382d6a3d3f186c7cf2dc603e022d61e2942426933b&#x27;, &#x27;aib_bronze.equity_ohlcv:9c309e33c9f1467b6cfd9f4db5983ec1c1931e25073142bc89de242b6384a2ee:1d3f9a2e486c5fd520436a7bb07f75fe2c9bde03ff912f413e0e84588e4c137f&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:e519ac685c8d6d24375955251a8ba0b39e62ef84ae6d423e04f2cfcb8940e145:4002ed6ed73b0876cc875acb89ce39155ae0d4d923630701d79d853854742d92&#x27;, &#x27;aib_bronze.equity_ohlcv:fbc1563c15ea46a25223e1542dc8bbec6e7b71fc0a4028ff4def3c49cd6a5610:decaeb4f0a1433ecd878714255ceea0bda580c33359c256d999a30ab82226223&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 86.4912985591413}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Front VIX at 0.88× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.882.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;f68ae5f5bd16d5f13b4598a4f631bacea747cce02aa784d8c7696ffa1aa06ae1&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;8b1501721fa3eb7ec5ec1182e7d21885e284857190e6be1b322524a9cae7fcbe&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;50022592b82955fa950ea23d6a6da5f8778d51d228c40e02725bdf990495f03c&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 173, &#x27;epoch_values_hash&#x27;: &#x27;299c201b1d2e70226e9d5df15e6b2daebc6ad2a45c20ea6d6f5d75954b3d147f&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;037c00b1be99908ba15fa9387d418638a04b6107f0ee35c9c2e65db7288f9e12&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-02&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 543, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b7a797a9d948f0d96c018080d662a9858174758aa9d4b08663c3cd2c28e24f3a&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:86684ac9aa40b21a0eeae4c9c895878d9bdfcac585e9262c69c298f9ef0bcacb:802b65f6148211a40a6a5bcb2a0db561b5e2b53b6a150dd4e1c88345496a3909&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fbfff326663ba7a2de854f4f246e3f2ee47fcac8c307aca18a9f3e94750c983d:29e12538bc43c460a05be8ff236c963da42aa765e6e3e496572b45b643b7d307&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e4229e424f9b1a2df914e7c3964bee0f897032f68073f0a57365129696358ba:0e118f35fc7bd6368a1b01f51aaad067291a2615e171a1c0b53bb3105de3e52f&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:4e4229e424f9b1a2df914e7c3964bee0f897032f68073f0a57365129696358ba:0e118f35fc7bd6368a1b01f51aaad067291a2615e171a1c0b53bb3105de3e52f&#x27;, &#x27;aib_bronze.equity_ohlcv:5a2fc9211935ccabfa6c02014a8c314020d9bc1ff8bbf577ae4c85afe1bba6d0:383058a683461ae00c665fdc3b068b82dbcae487cad9747a421ab5fe804ad890&#x27;, &#x27;aib_bronze.equity_ohlcv:86684ac9aa40b21a0eeae4c9c895878d9bdfcac585e9262c69c298f9ef0bcacb:802b65f6148211a40a6a5bcb2a0db561b5e2b53b6a150dd4e1c88345496a3909&#x27;, &#x27;aib_bronze.equity_ohlcv:fbfff326663ba7a2de854f4f246e3f2ee47fcac8c307aca18a9f3e94750c983d:29e12538bc43c460a05be8ff236c963da42aa765e6e3e496572b45b643b7d307&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8821313240043058}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-02 03:32:57+00:00</li>\n<li>interpretation: Up 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.35841778621030773, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 0.35841778621030773, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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&#x27;comparison_date&#x27;: &#x27;2026-09-01&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-02 03:33:05.280000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7a014f31e3c4ac4d2853632b9d7aa5272e3aa2a6763d0a321e4479ec77dcbdb9:cb2636004305453105ff7c21a266ca686aae4b191dc12c40edcccf80be3d5761&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-01&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b930eb7431985751e22b6aeb84c15203e18dc15e6f0055cfe7d8935ebdc1c4f2:1250588f617227c4daefc7d36b9ce21f7355650c59f8c8a17b069df3a314e425&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f0e65b9f8206b971100a0613b528447253160faa232f171115d2e6718bd5c85b:7207db09ff4eb61ed4d8870fe2a62b84f3de4ebdb0d1124c6899206e8b5f326a&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b8290b14f640ec5f53800f43d37d8af1b97859d8fb345163d78ddfe9d194f7ae:1ac26b2bde0e4ac051b828e1ec8da194ac5105e0a910bb04b1bd2abe835a0b1d&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-10-01&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:56fbd0ed734179ae1ac952f0d76bcb0e95c0cc2b25a9d7ad07a8bc42b0568aa4:5cb7aff721cfb66841c46f0b2fc6a3c0be0fdee7816437633a2b25fc0367d73f&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:033acb89607e70a2c2db89866ec1cb4ecd1263f7ad974dff47e9c5ab75026add:4349130b1071134ae91d6eb0296bc8ce09eb16cd09dd2f8491d4390908b79939&#x27;, &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:4ecff585168251b7814866594b53e93875d222e2e25ba4da69c09e48125fe528&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:3d8e205215a954cc9420846292e059cc00fb287103ddb9b31b48cad6c38ca59c:7ca703d2a84cd34e3ab01f7d50ed8754b8b8aeca1fedfe17c37692fd60f35c0c&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:56fbd0ed734179ae1ac952f0d76bcb0e95c0cc2b25a9d7ad07a8bc42b0568aa4:5cb7aff721cfb66841c46f0b2fc6a3c0be0fdee7816437633a2b25fc0367d73f&#x27;, &#x27;aib_bronze.equity_ohlcv:7a014f31e3c4ac4d2853632b9d7aa5272e3aa2a6763d0a321e4479ec77dcbdb9:cb2636004305453105ff7c21a266ca686aae4b191dc12c40edcccf80be3d5761&#x27;, &#x27;aib_bronze.equity_ohlcv:b8290b14f640ec5f53800f43d37d8af1b97859d8fb345163d78ddfe9d194f7ae:1ac26b2bde0e4ac051b828e1ec8da194ac5105e0a910bb04b1bd2abe835a0b1d&#x27;, &#x27;aib_bronze.equity_ohlcv:b930eb7431985751e22b6aeb84c15203e18dc15e6f0055cfe7d8935ebdc1c4f2:1250588f617227c4daefc7d36b9ce21f7355650c59f8c8a17b069df3a314e425&#x27;, &#x27;aib_bronze.equity_ohlcv:d179d05fb92823b510e74e86bee161f0a34333d7edb76c43b40953a6f72fe157:60c0844555832042368d5c95acf5f2a13e0d80f9afb49e1e698e2520e8060864&#x27;, &#x27;aib_bronze.equity_ohlcv:f0e65b9f8206b971100a0613b528447253160faa232f171115d2e6718bd5c85b:7207db09ff4eb61ed4d8870fe2a62b84f3de4ebdb0d1124c6899206e8b5f326a&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.25170128141373}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-01</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-01</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-10-01 / 2026-10-01 22:01:39+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,008B (conditional on an IPO), -3.03% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $39,603.; Probability-weighted bucket midpoint: $1,008B.; Seven-day implied-cap change: -3.03%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.0266147354754858, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.039, &#x27;full_set_prob_sum&#x27;: 0.9995, &#x27;implied_cap_change_7d_pct&#x27;: -3.0266147354754858, &#x27;implied_cap_usd_b&#x27;: 1008.0128205128206, &#x27;ipo_by_2026_prob&#x27;: 0.0375, &#x27;no_ipo_by_2026_prob&#x27;: 0.9605, &#x27;volume_24h_total&#x27;: 39603.15385600001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-10-01</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-10-01</td><td class=\"num\">127,298</td><td class=\"num\">24</td><td>—</td><td class=\"num\">10.08</td></tr>\n<tr><td>CISO</td><td>2026-10-01</td><td class=\"num\">749,583</td><td class=\"num\">24</td><td>—</td><td class=\"num\">13.05</td></tr>\n<tr><td>ERCO</td><td>2026-10-01</td><td class=\"num\">1,545,356</td><td class=\"num\">24</td><td>—</td><td class=\"num\">6.936</td></tr>\n<tr><td>PJM</td><td>2026-10-01</td><td class=\"num\">2,294,549</td><td class=\"num\">24</td><td>—</td><td class=\"num\">12.08</td></tr>\n<tr><td>SOCO</td><td>2026-10-01</td><td class=\"num\">692,576</td><td class=\"num\">24</td><td>—</td><td class=\"num\">11.08</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">47.52</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">41.22</td><td class=\"num\">0</td><td class=\"num\">-6.302</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">41.93</td><td class=\"num\">0</td><td class=\"num\">-5.593</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">161.44</td><td class=\"num\">0</td><td class=\"num\">-1.087</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">162.52</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.679</li>\n<li>as of: 2026-10-01</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.004234</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>277 benchmarked model identities; 214 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 2,485,923,884,660</td></tr>\n<tr><td>Claude Sonnet 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 390,097,879,889</td></tr>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td class=\"num\">2,059,484,653,764</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 131,744,951,512</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 4,454,389,919,425</td></tr>\n<tr><td>GPT-6.1 Sol (max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 258,028,487,451</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">4,972,699,702,197</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 40,748,883,212</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 106 eligible configurations.</p>\n<p>Usage window: 2026-09-02 → 2026-10-01. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-02 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;d3fa8c9cde03c0543a6d9f88490d8d7d23c94b2b2091c330b8bcf39f5d97292f&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;ab44d83779f215d0adcf43880b3ac973e4cb77602320372d35eb842533177010&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;908ebd26de7975db8d753eafd8a6c2ad6bc12a572d7ada8a4e73e7840842c138&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-02 03:31:59&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-02 03:32:02&quot;, &quot;record_count&quot;: 1601, &quot;records_hash&quot;: &quot;20d121738efe05d6f6b8af0c9fbe06d4721a8ec2b43c073bd8c104ae5b562550&quot;, &quot;snapshot_id&quot;: &quot;30c42ab81735b8bf7888123af52e3c74c2b52b8f9b8dffd604e5ae7d0aec6431&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;d7c5f488e1221b7ad9a8579ea20b9664722ddcc07cf77fe7de3dfe7e30f7aec2&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;f8ca28b8422efd2f8a995844cbcb4d1909d854f8aac64200f97d622d95a29ce6&quot;, &quot;30a6e2e4eff71f10d2a8566f0e1bec8c904b997f5818361c8c13d063068edfc6&quot;, &quot;633bc3aef0d3099a39e5a19d81b0d35744d5c2de706cd01ae4ea968b91283dcd&quot;, &quot;debf3db3ca6acae06450211527e1213e022dd277b0ff040ff260c29ec1fb5ef7&quot;, &quot;68a13c5b5a9e869e849a4d0177d3519ea2b241d1210045e7eaaf73f6fe48d3e1&quot;, &quot;4f3c18f634803ee50fd4dabad4f9e046b08f20f42760708cea10d9ff0f6782f9&quot;, &quot;5ef51456de4b10bdfcc7431a72206e82db0852dcbc9ddad246d34edb14f59923&quot;, &quot;01214dd9a361529487fd2c52a6a34ea79248a907bc866dd8f5bf5ca2ab71383c&quot;, &quot;1c1785e26bb27aec728d7b125ff1e74c97b649bae2611ece5ce53cb1015087db&quot;, &quot;bd0adcf79491f0f68a9105b4895e4bea9d65e92f2904339fb5bcb3dc14717285&quot;, &quot;31a3d4323adc74be06374e579c9c724e3187bdb76c2366ff3da021e679b1cfdf&quot;, &quot;a4e5db035a688232dc2473853e82c22da81c2dec8eb3279d1c53793d49bde65a&quot;, &quot;c1f3339d62996bc3618d4fb4639dbc49b7c9849c290cf18de3a88bb367bff823&quot;, &quot;81ba9cea751eaa975651179255ddb84fb6ffc90be8d6bcab2f4db6899adee866&quot;, &quot;86d301281e3ea5d25ad0d9a14a89f25e924e4ee5285c360242b7770f9dca6948&quot;, &quot;253914abc6e2e8d61e564c3d3572d256395746ac96eba07d1099b5fa74f55722&quot;, &quot;e8e60143901d27f5dc5024cb546bb7fda6f92b518e11f96e1a123b7dd4e4db89&quot;, &quot;5a0a679553402e62d61547308d02cce839549d21b39b7229e0899fc5aa23e8a8&quot;, &quot;bd3ddf864e567626134c8f30d149799db47d5f0a9ed7f0cb446357694dd0f94b&quot;, &quot;74c0b52e129ecbbc463f4be92c9be0e08aab4a0b30ad3da56fac1e97422bb66d&quot;, &quot;3c4279f1a6e214aca2726908a8bf0ceb6107ddbb736f9d512ea2883dfe4bf8be&quot;, &quot;669d745f105816d86834278d16fc66a5c7d9a45d971b78075d09b434de72b274&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-02 03:32:04&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-02 03:32:06&quot;, &quot;record_count&quot;: 770, &quot;records_hash&quot;: &quot;dc09522a8325d1888eb041a37d66a9bdef6c8d302c3305506d5948fb91d3ab3e&quot;, &quot;snapshot_id&quot;: &quot;f2ed7d1cc397f38149079ef5b8decb6a3f601e4053f52cc2f8637f2e03028c20&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;17e78b0e1b71d386b69b5d4a33c80f83bd96fea390a1b5f0db7c519046d6014d&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;89540b79a70343d51c691cd91cfa3cde004244714eb7b060e0c8569e7da9aca9&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-02 03:32:00&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-02 03:32:03&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;1f00aa217254cf3fb1348a5e1520f4cfe6147c456b68d3ff3ac400f3989ac173&quot;, &quot;snapshot_id&quot;: &quot;1136d594f562fc5f6adeebf7ea7977d5c99418f1e662b93caf9b636afca6e328&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;bf33e8f930a61f479ede964e80f3772a962f4068ffb71f11f89ce72a1baa0fd3&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;6b34ff6acef6a6e9f22c84524c9c97e4c793744f3e00f8c62f53fb595afe1c13&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-02 03:31:55&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-02 03:32:01&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;0ff053e549d657bb517180d5d8327bdfa00603342a67becb5290e6ff56f5a5db&quot;, &quot;snapshot_id&quot;: &quot;c67cf8d8e35f47be44d59039a5475ff4f3005231e3281650d8fad2780cb66665&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-02 21:19:05</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-10-02 05:30:01</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-02 03:31:52</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-02 03:31:52</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">1</td><td>2026-10-02 03:31:51</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-02 03:32:03</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-10-02 23:28:06</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-02 23:44:57</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-02 03:33:42</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">636</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">137600</td><td>2026-10-02 03:31:51</td><td>—</td><td>partial: MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; KXIA</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">206</td><td>2026-10-02 21:45:17</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-02 23:24:46</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1790983492</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">464</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">613</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-02 03:31:51</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-02 03:31:51</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1601</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">770</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-02 03:31:51</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-10-02 05:10:04</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-02 03:31:52</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-02 03:31:51</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-03T05:10:08Z",
      "id": "urn:prexel:issue:97260167-57c8-5bbe-9604-0ee0f2047be1",
      "summary": "Prexel daily — period ending 2026-10-02. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 32 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-02-daily-29e6eefeccc7.html"
    },
    {
      "_prexel": {
        "content_hash": "3fbfb4a3dd126016568a8d00de0951528680e078d9914c7acbd6edd658ad566e",
        "context_hash": "684078f2a389b6acead504a4b2bc724d9aa641443a2733b28b796ce262990f91",
        "kind": "daily",
        "period_end": "2026-10-01"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 31 (daily)</h1>\n<p>Period: 2026-10-01 → 2026-10-01</p>\n<p>Context hash: <code>684078f2a389b6acead504a4b2bc724d9aa641443a2733b28b796ce262990f91</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>B200 vs H100 rental price: ◆ Mixed — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Open-weights token share: ▲ Bullish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>CAISO day-ahead power prices: ◆ Mixed — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Dominion total electricity demand: ▼ Bearish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Source correction; New evidence; Evidence eligibility changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-10-01T08:56:45.250726+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Evidence revised; cause unclassified. Published 2026-10-01T09:26:55.656667+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 28 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 14 bullish, 7 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-20 04:42:32+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-09-30 17:40:31+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is inside its registered 14-day band.</li>\n<li>evidence: b200_h100_ratio=2.703647635524798; b200_h100_ratio_change_14d_pct=0.026921664910038813; b200_offered_usd_hr=7.813541666666666; band_measured_pct=2.6921664910038814; band_pct=5.0; h100_spot_usd_hr=2.89</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.703647635524798, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.026921664910038813, &#x27;b200_offered_usd_hr&#x27;: 7.813541666666666, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.6921664910038814, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 2.6921664910038814, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.89}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-09-30 17:40:31+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-09-30 17:40:31+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.363793111817023; h100_depth_smoothed_3d=30.75; h100_dispersion_smoothed_3d=1.6083296537399292; h100_price_change_14d_pct=-0.040047571028977894</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.363793111817023, &#x27;h100_depth_smoothed_3d&#x27;: 30.75, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.6083296537399292, &#x27;h100_price_change_14d_pct&#x27;: -0.040047571028977894}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-09-30 17:40:31+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=1.9512228682892672; band_pct=8.0; h100_spot_usd_hr=2.89; spot_trend_30d_pct=0.019512228682892672</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.9512228682892672, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 1.9512228682892672, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.89, &#x27;spot_trend_30d_pct&#x27;: 0.019512228682892672}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:24:47+00:00</li>\n<li>interpretation: Up 11.4% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 11.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 11.413546280746246, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 11.413546280746246, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2804464962, &#x27;total_tokens&#x27;: 183511958139664}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:24:48+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -1.05pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.5%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -1.0532398345116718, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.52263043400666, &#x27;top10_share_change_14d_pp&#x27;: -1.0532398345116718}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:24:48+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 8 cuts, 8 raises.; Fixed-basket price at prior-day token weights: $0.621/Mtok.; Seven-day like-for-like change: +1.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.855438603590831, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 348, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6214473016674972, &#x27;like_for_like_change_7d_pct&#x27;: 1.855438603590831, &#x27;price_cut_model_count&#x27;: 8, &#x27;price_raise_model_count&#x27;: 8}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:24:48+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -21.02%.; Token-weighted effective price: $0.604/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -21.02033993507513, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -21.02033993507513, &#x27;effective_price_usd_mtok&#x27;: 0.6035521595877551, &#x27;matched_model_count&#x27;: 348, &#x27;total_standard_tokens&#x27;: 147482445834120, &#x27;unmatched_token_share&#x27;: 2.4871420833057454}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-30 06:49:34+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.8 listings/month.; Relative change: +88.4%.; Trailing three complete months: 106 new listings (35.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 88.44444444444446, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.75, &#x27;listing_rate_change_pct&#x27;: 88.44444444444446, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 106, &#x27;trailing_3mo_rate&#x27;: 35.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▲ Bullish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:24:48+00:00</li>\n<li>interpretation: The open-weights token share is falling through its band — substitution pressure on closed-model pricing power is easing.</li>\n<li>evidence: Fourteen-day share change: -11.22pp.; Open-weights share of routed standard tokens: 54.9%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -11.21581628545389, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -11.684193137059822, &#x27;chinese_lab_token_share&#x27;: 52.923393276324106, &#x27;matched_model_count&#x27;: 348, &#x27;openweights_share_change_14d_pp&#x27;: -11.21581628545389, &#x27;openweights_token_share&#x27;: 54.85444991889313}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:24+00:00</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $43.29/MWh vs prior 14-day $50.40/MWh (-14.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.10842720568224, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 43.28987709733894, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.40061054767741, &#x27;caiso_da_trend_pct&#x27;: -14.10842720568224}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:24+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.18 MMBtu/MWh vs prior 14-day 17.42 (-18.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -18.592377104236625, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.17824733156441, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.41636326823919, &#x27;caiso_heat_rate_trend_pct&#x27;: -18.592377104236625, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:24+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY -8.31% vs control mean +11.37% (gap -19.67pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -19.67364044518661, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 6.6669787021057525, &#x27;dc_load_premium_pp&#x27;: -19.67364044518661, &#x27;erco_load_yoy_7d_pct&#x27;: 16.068789251174426, &#x27;pjm_load_yoy_7d_pct&#x27;: -8.305756468546521}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▼ Bearish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:24:55+00:00</li>\n<li>interpretation: Dominion total electricity demand is below the same week last year, beyond the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY -6.40% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.4048905502444615, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: -6.4048905502444615, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Down 12.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -12.94%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -12.94102380016029, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -12.94102380016029, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;de59fc22aea64fda22abdd837baa73b59f7729efe95ec446c1b38ad5fb0d249d&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-30</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Down 3.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.25%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.2493427010841236, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -3.2493427010841236, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;310a0f2a1d32a3e34fc42c81e7d183254c7ca1d5bb61c581cefa3c214c002cd3&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6139a7a13a90b0a2c36e7bd8dfea96e6042fe52515fe5795edeb63ba5f89cf68&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;a21d057aa300cfcab36d7a43b8ca9def54db2fe5b8b1761468bfdacf9b68840d&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;9e23804c925d3e398078e9a1afae2231a9ab1876ec03b5528a0241e550a5cff8&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;75d33ed5291923fd1ba5e1cbab02e7d26523b7fe4f47271de027736d41a25ff6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ca19f9e0f62e512a2bfb95d6293eb76ca77f37cdcd57f3f1289addd8fd3ea14d&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;9312abd64817dc628c4c3e5ad027f86a54feb929950ebb1e08400b84bba18468&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;937d5917d985cc88acda6d541d8e7a9e2e8a828038e45b5a005ec8fd4e46779a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bf23191f9ff29b6e9fa62fbbe31a503e1f1ed1e96d6429f5ac068d08fe728422&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;1e64f88bea7fb6fc606a20aa89e649fdb64e2a858d991f09d2b5fbdbf90164ee&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;72fd7c236edbc31b08c46605f7330c709325de48b5f73654dad091bd9b4935c0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b353db879650d06ca8a8d2726bd2dc74aebec941b078b5bebfb6aa78b4afb495&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-31&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-01 08:55:47.240000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f3c2f2d3cdb1c44d6323de9b67ee4fe81eb29c8857acb6704436021c674925bb:e1526f6a6b5ffabc6e1fcea6ca6119b2ec6759c181162de5717b1df6768c36bf&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30ae8d47cc9b88e8bea4a7cf3aa112d5a64107bfa615b3ac26612da256fade9d:56bc1fcda3f7eae836150a4dab95275efea5a4626c77acb0d18c666829cb17c7&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:133895000793324219c8fabd8f360c2690f1437949b6e48d19f6cc9abb651b52:58dc70f124ff99632b877de7ca40e3c354974e315e97274eb7bf2723919375f9&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4ce36236cbb3f31fdb96e39a351c427943a500c93588f07027e53434240ce76f:fd32945f65eaaf5bd86cfb4a2e1e427f3a212e4eac2cd1069ec4163113148336&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:de4a712692b0d9bd80ba0744f90bdad8f1657799ce16b20d737006b794ebe25f:ade5761c8d2f5d6ccbd1b42ce3da4aedf3a2148909352bb31bddf404f5501e5d&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:73b3882e4484900b86ba5d28e49647723b27b0743e74d681b28ef7c614f2282f:f2bae420c90123d8932b200bd33aaf0865b980af64821b61f241b7388c8efbe5&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:de4a712692b0d9bd80ba0744f90bdad8f1657799ce16b20d737006b794ebe25f:ade5761c8d2f5d6ccbd1b42ce3da4aedf3a2148909352bb31bddf404f5501e5d&#x27;, &#x27;aib_bronze.equity_ohlcv:f3c2f2d3cdb1c44d6323de9b67ee4fe81eb29c8857acb6704436021c674925bb:e1526f6a6b5ffabc6e1fcea6ca6119b2ec6759c181162de5717b1df6768c36bf&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 110.06320540601722}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Up 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.0016809785431198, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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09:25:52+00:00</li>\n<li>interpretation: Up 9.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.99%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.987715675541995, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 8.987715675541995, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;63e3867a4ecb85d58b8815b037dd3573fe88014ce2f0b9b8f5713a919f4fa6b7&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f6cb0cab7024958632b52c772be4f0ef69906c5141773241850b4c09741a8b04&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;7d2661f6d5259944dd116154d0b1d98f1ad2c5f9d59ff82197d90370ac678cff&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;ced390ac1e0a3a681aa2620232d1315fbd961188d434a94fa771828d501cfab9&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;64728fee23af8388f194953b7ca413f564476bfc7ad2476bf905fca56228418d&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-01&#x27;, &#x27;row_count&#x27;: 379, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f59ef7a592b5a0820349088001e1128e920c96fcac82273526ee3fd33abd37d9&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;9312abd64817dc628c4c3e5ad027f86a54feb929950ebb1e08400b84bba18468&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;937d5917d985cc88acda6d541d8e7a9e2e8a828038e45b5a005ec8fd4e46779a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bf23191f9ff29b6e9fa62fbbe31a503e1f1ed1e96d6429f5ac068d08fe728422&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;9442f70f39ca7c9287c5e607cbd77eca3e1dccb0f65e30960729f4e0a651fc7c&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b00057952498478cccfa24f1ffa0ce2058a658a5e393d9c09bdd1a01092a394f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;94333277729d15be21fccab6a137b5eafd4d157db3ef991e63c79c6e90cbb801&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;7a7ebfd811fefbf86552a9908d5d5aa7551b57567c11c77f8da47b225aed31bd&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;0af973f0183320f2bd8d91c81478e19dd81a6df13d598c6f72ff3f7fd895bb2e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-10-01&#x27;, &#x27;row_count&#x27;: 487, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bfab14581d8028d9438de08eee421197c76f6000e7cdf3294f4715b77fc58719&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-31&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-01 08:55:47.240000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e1d66c6d8a964df43aaa5707e2ea0edaacb43297e748136c03725941e8b6de5b:3486f1100ccadc27626a702eed974f78accbe00a9e38c0ec37b129c7777e23af&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b07123359b0612e8d16aa20f6407b3b00c440175027126da504b8d948ee1a694:9e9b867a68f88352cd71a8cebab5681e0a57d90990dbeef4f7d1541c2beccdc3&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:133895000793324219c8fabd8f360c2690f1437949b6e48d19f6cc9abb651b52:58dc70f124ff99632b877de7ca40e3c354974e315e97274eb7bf2723919375f9&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c28b9825f5bac4212c5f29b25ab943de49cd0cbc6b1477de06dff2dae917d1a8:ab816f656636c637e9490a3379129c8fad85dfeb4b20472379dbcd60e8259c90&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:542b8941fcc8c7220aef3e610fefe5c796d68427d4f0b15dfda9e631230a067a:1c4c2c73391ec7a8fd63490f477fe0eaaab40eea162abbc5e13a93a1245582cc&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Up 3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.63%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.633267330357648, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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10.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 9.98%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.975430474312974, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 9.975430474312974, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b3d8c57c93639a8c14f67a3a7ca25dde3e43669430122adc49712c6f2ac05b9f:b7d38deea104e52c7b0c447b10d6963133b18bb755b9698138cbcfa85915bdf7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 141.55022460776277}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Down 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:005644936c56cdb7e167373646753afa97b991d422e57a32197684f251078a04&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:005644936c56cdb7e167373646753afa97b991d422e57a32197684f251078a04&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:ec9ad42f575bfa61b7130b23f76ff32b30d50f8d3965db1fc813e6d3417a8d47&#x27;, &#x27;aib_bronze.equity_ohlcv:351d65fa3e284c2ce0c27bbbd380106310b4d7d0f024956c9d63eb02d380a5a6:04f4397c9eddeeafbfc02beb5213c59546c0a701a37c196c559fd8855b671225&#x27;, &#x27;aib_bronze.equity_ohlcv:4c2e897ecdcce6198d21a39960fc0dd7e0dddd02702481624567bc79f9cbec5c:747ffb6b10e592616082929db07dadca9664c10f74e04401c756c29c452c759e&#x27;, &#x27;aib_bronze.equity_ohlcv:602ccd4bddd757cd89228a7535ec43c0b8dae5fb764ff552ba26823419d8f938:d64b6329dec8c577cf7c2063a7ae25573aa8db67ff3f340f0e2cc31c3e9dd4f7&#x27;, &#x27;aib_bronze.equity_ohlcv:98b75ebf48dbae49c494f2a7f7aaba5bfb583538fbf5e1d8e0183afad93b7bdd:51c2f881ce5e255e371f0d822f40eec47c60ca415b09752727a2f349cff08d8b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.98135286927288}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.6864960922749797, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.6864960922749797, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;268d9ad5bba1e37b0c60721624331109504e732a82ce5adce28a35f223fa58b7&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f921be4d5d264b2ebfe9737c95dbcdec5d3572f22253ea86107fb4eeb4047773&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-01 08:55:47.240000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7c2a773ead50f1de79068ed1fc7a965ef822d66f76b41e6e8663e29e837d232d:e01c805ca3078ed808392666ac6e07f58200c1a6aa9999f9d0217d8f8d8bf218&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8e2c6c9e58c1e4dcea2e06c2d0a1fa24ce418349101977aac8b5524304caff09:4b3f44df568135d58b28e985cec974679a02b60d0e448a1804db821108b9d40e&#x27;, 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&#x27;aib_bronze.equity_ohlcv:7c2a773ead50f1de79068ed1fc7a965ef822d66f76b41e6e8663e29e837d232d:e01c805ca3078ed808392666ac6e07f58200c1a6aa9999f9d0217d8f8d8bf218&#x27;, &#x27;aib_bronze.equity_ohlcv:8e2c6c9e58c1e4dcea2e06c2d0a1fa24ce418349101977aac8b5524304caff09:4b3f44df568135d58b28e985cec974679a02b60d0e448a1804db821108b9d40e&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.76540821888267}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.40%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.395801574586134, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -4.395801574586134, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;9312abd64817dc628c4c3e5ad027f86a54feb929950ebb1e08400b84bba18468&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;937d5917d985cc88acda6d541d8e7a9e2e8a828038e45b5a005ec8fd4e46779a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bf23191f9ff29b6e9fa62fbbe31a503e1f1ed1e96d6429f5ac068d08fe728422&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;051cc455b97442c1ab664f4b6b9926ad621aee1a4a6cc437a76766f8a2a156bd&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;19f894cb0c3a3b3a3a13b3d36d9cd2534370704b6cfa36cadc30d7f0923bcf28&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2fed9ed49686f969ed7f40c0ff7dfd042cc5988d530e781d914acf17454a32c8&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-31&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-01 08:55:47.240000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:133895000793324219c8fabd8f360c2690f1437949b6e48d19f6cc9abb651b52:58dc70f124ff99632b877de7ca40e3c354974e315e97274eb7bf2723919375f9&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:07b82bfa7bec283aae3821c35defd2588eb838429f3cc5403a43f99336b46bd6:06a6b0d73fcdfcec838b877c558f0c0b67b95d1b641a98252c6054ce36eaa232&#x27;, &#x27;aib_bronze.equity_ohlcv:133895000793324219c8fabd8f360c2690f1437949b6e48d19f6cc9abb651b52:58dc70f124ff99632b877de7ca40e3c354974e315e97274eb7bf2723919375f9&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c3f6196232207a46c535372596cc5bf4133beb77f2f9db4117802144a49873e1&#x27;, &#x27;aib_bronze.equity_ohlcv:cb26e94bc65f643ae7d150ee1c2f64991f891bf5cb21419382684b751c305ecd:27b2a52106655e16a8199aa0f2a761c80acff2de0f8d892ce0f3715305dc1dbe&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.40178327808542}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Up 3.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.70%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.696992427425494, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 3.696992427425494, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;9312abd64817dc628c4c3e5ad027f86a54feb929950ebb1e08400b84bba18468&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;937d5917d985cc88acda6d541d8e7a9e2e8a828038e45b5a005ec8fd4e46779a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;bf23191f9ff29b6e9fa62fbbe31a503e1f1ed1e96d6429f5ac068d08fe728422&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;ed79a5e4f479369b6b3d1624b242f964e1cb747994fcabec4a451dcefabad02d&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cb757fb07d8e6a255e19004affdb8d0961e640ad6d6cf0a33359488652d1b699&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;25d6c543d131cf0d432f713a2c33992cba5693cc8102ad0f956df401a4fb68ab&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-31&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-01 08:55:47.240000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:133895000793324219c8fabd8f360c2690f1437949b6e48d19f6cc9abb651b52:58dc70f124ff99632b877de7ca40e3c354974e315e97274eb7bf2723919375f9&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6f315f4ba1fa5041734725ffaeac1d589eb25f50770d11371f5af6b5d40eec36:f4429b33a35fbf50df9c83c53f1869656186c63f39f3106e7a98d053bb8fbd05&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c3f6196232207a46c535372596cc5bf4133beb77f2f9db4117802144a49873e1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:10105bcd5e3d8ed38a3023064e0b2ade5db7a982e0b8aa0d3c46897495cd5b7d:ce4336e17a0f593bd5262ac21e8431438da8931cd7a1a818ea0e6f397c1c351f&#x27;, &#x27;aib_bronze.equity_ohlcv:133895000793324219c8fabd8f360c2690f1437949b6e48d19f6cc9abb651b52:58dc70f124ff99632b877de7ca40e3c354974e315e97274eb7bf2723919375f9&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:6f315f4ba1fa5041734725ffaeac1d589eb25f50770d11371f5af6b5d40eec36:f4429b33a35fbf50df9c83c53f1869656186c63f39f3106e7a98d053bb8fbd05&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c3f6196232207a46c535372596cc5bf4133beb77f2f9db4117802144a49873e1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.71964729330021}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Down 5.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.49%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.494685832991653, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -5.494685832991653, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;9312abd64817dc628c4c3e5ad027f86a54feb929950ebb1e08400b84bba18468&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;937d5917d985cc88acda6d541d8e7a9e2e8a828038e45b5a005ec8fd4e46779a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-01 08:55:47.240000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:133895000793324219c8fabd8f360c2690f1437949b6e48d19f6cc9abb651b52:58dc70f124ff99632b877de7ca40e3c354974e315e97274eb7bf2723919375f9&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:133895000793324219c8fabd8f360c2690f1437949b6e48d19f6cc9abb651b52:58dc70f124ff99632b877de7ca40e3c354974e315e97274eb7bf2723919375f9&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:77ae1debf9b25b0a35031a9615530d602712846f991521815c011bec434d8e8a:c3f6196232207a46c535372596cc5bf4133beb77f2f9db4117802144a49873e1&#x27;, &#x27;aib_bronze.equity_ohlcv:b80fba5952394207d09c4b561f44cfc0e9832fdd707c0cc28235a5f440d88bd7:be52749cdbf9636755bc9ee8bcdfc3de3fbbba38f4252cd2a102ea42819431d0&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;aib_bronze.equity_ohlcv:d96fb1e635a3c5cae54602fa887e9f86c5e8b5fb100875a46da84216e3f2160f:aec9fc5ad5e1d9e43520cff7e55a7cc5c0d7f8d9efc3707e76ece49ede2b6473&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 86.13568562259839}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Front VIX at 0.89× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.889.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 174, &#x27;epoch_values_hash&#x27;: &#x27;ca20812d7fe3c9d0aece396e9613b369bd6bce9095c45cf7a0479d233a19e0b3&#x27;, &#x27;history_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;eaa5a83b69d66fc1190187ab4a6717b701d5a21a0276a05f432c712aea32fa97&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 551, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;23efe5176cd2f5b6f313fb0e7e3fa21377f68d95c8c7766f04d90d1836cf02ca&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 172, &#x27;epoch_values_hash&#x27;: &#x27;aa95829a737099ca93a9b22a74c24a9867cdc7ae29f61a4d733ec98958dd0751&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;56deb7a9bc0a08049ea6505e68e8bcaed8b3fd93e5ce07d1629769105109fb9f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e4f722af840006c3159aa361d886194133a0fd67e53e39a8ad97430949e11b42&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-31&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-10-01 08:55:47.240000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6464fe9f0cbf4eedd3078c1ab627fe03186a6d1628db8d865fb6fd7fb2b24d22:322cbbb6625fbb4f4056ad7313c1ec6e217c8a87748b389ed6d955157ad7665c&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6819e6c834ebfa2162ab793bdb469628f998baaa27fe8e45ca4f0499142a9b9a:52be4039756ccf64db8da18481db740013e8ce46040dcc1524d50bbc1df8f6ae&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a4267448a941c4f6752feb2de3498337cdeb27b1771cc6f4f9094c1ec670f619:6c1eb2ce224059ba8b75a92fd005704ba1f0b0a61eddcb936eaf4927b0c6ab3f&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:46bce1ffb56bb10671b260a9ab2a829a72676d8bbce22b551136c8761e62acee:abda5ab53b8960db1ecab2dc6b271420956a54e5aa92c6810cb0c8b9e0ebb5d8&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:46bce1ffb56bb10671b260a9ab2a829a72676d8bbce22b551136c8761e62acee:abda5ab53b8960db1ecab2dc6b271420956a54e5aa92c6810cb0c8b9e0ebb5d8&#x27;, &#x27;aib_bronze.equity_ohlcv:6464fe9f0cbf4eedd3078c1ab627fe03186a6d1628db8d865fb6fd7fb2b24d22:322cbbb6625fbb4f4056ad7313c1ec6e217c8a87748b389ed6d955157ad7665c&#x27;, &#x27;aib_bronze.equity_ohlcv:6819e6c834ebfa2162ab793bdb469628f998baaa27fe8e45ca4f0499142a9b9a:52be4039756ccf64db8da18481db740013e8ce46040dcc1524d50bbc1df8f6ae&#x27;, &#x27;aib_bronze.equity_ohlcv:a4267448a941c4f6752feb2de3498337cdeb27b1771cc6f4f9094c1ec670f619:6c1eb2ce224059ba8b75a92fd005704ba1f0b0a61eddcb936eaf4927b0c6ab3f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8894937397931408}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-10-01 09:25:52+00:00</li>\n<li>interpretation: Up 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.12%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.11706225835712569, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 0.11706225835712569, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;0350782eb990506fb1228eb3c3b7c9a5e8d9f5e4d86ec882bac099887c865e9a&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;5e8cd5647673a8a53e1ab137fff66bd7fd9329bb6d84ecfc0cd8fc90b7664354&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d254f913427e9756ab62930c8fba45dbb694b3a90be3c51cc99e0ae247532d81&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;73f1a825a7ba3fc9eac1d8681dcfc6d36908fecf411737805cb8aa4d85d5d1c3&#x27;, 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&#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;712e4d4725d43371859d47967b3d7a81bbb0cacc81085e9cc0def4ab8733a30e&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, &#x27;OBDC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 167, &#x27;epoch_values_hash&#x27;: &#x27;d08dca51b03395a5479fe9804999c85777071fe06a2467287385d02861102a80&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-30&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;2b98102b9743e2041e194a899211be9345960b4527aff5b8267b4d43c4292fd6&#x27;, &#x27;requested_end&#x27;: &#x27;2026-10-01&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 531, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cf44e61241d6edfa2b5cccaa6ccc36ed33272cf62bbc4403c4eb0352b7706948&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-31&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-10-01 08:55:47.240000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:486523f47cb8364b6948ddc30d4bc821e58c6ae916300965d94144a9736868a0:dd19a67c25a3941d5c3235ba856a07d1f10aeef51d91c445343e55963f9cc513&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0fb1eee93af0b65130f84f4c9f45013b893a842adb2ca078e73855c2f93462d1:313380068779703b6fab516b4baeab2ae86616dab83eeb8f55ba5a8c6d65785e&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8e2c6c9e58c1e4dcea2e06c2d0a1fa24ce418349101977aac8b5524304caff09:4b3f44df568135d58b28e985cec974679a02b60d0e448a1804db821108b9d40e&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-31&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:50911ade25f49a10472e5fee0efa2df08386443cb8fc0c801201d778d82aa731:6451e7062b1c4a358586bfe23c125af87954f26ba6d4ee155839e70a327a4a75&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7ceebf0f0f438c35f849b8fe1d4bcd673df70fb8fbb96508d98ca63336f859b7:132b22e7c8de09f59e0489dcad3f5cf3d8e1fdfc4d83b17627c162613a1dc421&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3ddd2223e2bc4ac08dfa62ecf8e5875e15c75ded5b2e39fc1fbe3eee6561b444:97ffe1a4b35c3bf2848a06ceec4f4007d32a4b3a2a8c81eb832eb0b53bbdc6f8&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4669c7114a6f4475b7599ff688a00cd0cffdb2cee8b1fdde998d4f6d9b20198d:ecf7f1d8d1b35dd92a1ab4b0aa0feebaf43a543d1475da57c7222327fad1bd28&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-30&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e3a59c921d401b64c7c24e20dcfae06413f6ca2fae3d8d978747e63132be1a3:73b8cf99af22d4aa7fa08555e1a0a51ef95fb558375d4f9dfa46ef06c939543e&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:c8b4e473d8cefbfd79632d7efb64fd1efab983cc065faa5e9e9412121191a62d&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:c8b4e473d8cefbfd79632d7efb64fd1efab983cc065faa5e9e9412121191a62d&#x27;, &#x27;aib_bronze.equity_ohlcv:0fb1eee93af0b65130f84f4c9f45013b893a842adb2ca078e73855c2f93462d1:313380068779703b6fab516b4baeab2ae86616dab83eeb8f55ba5a8c6d65785e&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:3ddd2223e2bc4ac08dfa62ecf8e5875e15c75ded5b2e39fc1fbe3eee6561b444:97ffe1a4b35c3bf2848a06ceec4f4007d32a4b3a2a8c81eb832eb0b53bbdc6f8&#x27;, &#x27;aib_bronze.equity_ohlcv:4669c7114a6f4475b7599ff688a00cd0cffdb2cee8b1fdde998d4f6d9b20198d:ecf7f1d8d1b35dd92a1ab4b0aa0feebaf43a543d1475da57c7222327fad1bd28&#x27;, &#x27;aib_bronze.equity_ohlcv:486523f47cb8364b6948ddc30d4bc821e58c6ae916300965d94144a9736868a0:dd19a67c25a3941d5c3235ba856a07d1f10aeef51d91c445343e55963f9cc513&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:10b7535fbb6dfcdb7009251b9a63c629b8b7edcb2248dedbc5f7f0264228c316&#x27;, &#x27;aib_bronze.equity_ohlcv:50911ade25f49a10472e5fee0efa2df08386443cb8fc0c801201d778d82aa731:6451e7062b1c4a358586bfe23c125af87954f26ba6d4ee155839e70a327a4a75&#x27;, &#x27;aib_bronze.equity_ohlcv:6e3a59c921d401b64c7c24e20dcfae06413f6ca2fae3d8d978747e63132be1a3:73b8cf99af22d4aa7fa08555e1a0a51ef95fb558375d4f9dfa46ef06c939543e&#x27;, &#x27;aib_bronze.equity_ohlcv:7ceebf0f0f438c35f849b8fe1d4bcd673df70fb8fbb96508d98ca63336f859b7:132b22e7c8de09f59e0489dcad3f5cf3d8e1fdfc4d83b17627c162613a1dc421&#x27;, &#x27;aib_bronze.equity_ohlcv:8e2c6c9e58c1e4dcea2e06c2d0a1fa24ce418349101977aac8b5524304caff09:4b3f44df568135d58b28e985cec974679a02b60d0e448a1804db821108b9d40e&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:ec963b631a89a0d92317153e24af15e717a56dbc49ee37cc8cf7df363b117d7f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 108.7018248105775}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-30</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-30</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-29</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-30 / 2026-09-30 22:37:52+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,003B (conditional on an IPO), -3.69% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $4,951.; Probability-weighted bucket midpoint: $1,003B.; Seven-day implied-cap change: -3.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.692307692307706, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.039, &#x27;full_set_prob_sum&#x27;: 1.008, &#x27;implied_cap_change_7d_pct&#x27;: -3.692307692307706, &#x27;implied_cap_usd_b&#x27;: 1003.2051282051282, &#x27;ipo_by_2026_prob&#x27;: 0.0375, &#x27;no_ipo_by_2026_prob&#x27;: 0.969, &#x27;volume_24h_total&#x27;: 4951.1537}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-30</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-30</td><td class=\"num\">118,833</td><td class=\"num\">24</td><td>—</td><td class=\"num\">3.71</td></tr>\n<tr><td>CISO</td><td>2026-09-30</td><td class=\"num\">720,456</td><td class=\"num\">24</td><td>—</td><td class=\"num\">8.41</td></tr>\n<tr><td>ERCO</td><td>2026-09-30</td><td class=\"num\">1,648,444</td><td class=\"num\">24</td><td>—</td><td class=\"num\">15.97</td></tr>\n<tr><td>PJM</td><td>2026-09-30</td><td class=\"num\">2,189,113</td><td class=\"num\">24</td><td>—</td><td class=\"num\">2.463</td></tr>\n<tr><td>SOCO</td><td>2026-09-30</td><td class=\"num\">658,505</td><td class=\"num\">24</td><td>—</td><td class=\"num\">0.1516</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">46.06</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">27.77</td><td class=\"num\">0</td><td class=\"num\">-18.29</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">28.1</td><td class=\"num\">0</td><td class=\"num\">-17.97</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.89</li>\n<li>as of: 2026-09-30</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 6.94</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.01951</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>276 benchmarked model identities; 215 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 2,127,361,215,758</td></tr>\n<tr><td>Claude Sonnet 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>≥ 236,911,272,309</td></tr>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,995,860,998,287</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 169,455,534,118</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,994,568,591,393</td></tr>\n<tr><td>GPT-6.1 Sol (max)</td><td class=\"num\">51.8</td><td>$2 / $10</td><td>≥ 104,583,623,596</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">5,125,986,218,515</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 77,991,102,309</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 106 eligible configurations.</p>\n<p>Usage window: 2026-09-01 → 2026-09-30. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-10-01 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;ed06a79c4dc704644a90a0b3f1fbcf00d63bd534c484a307f5996e229bdd0b5c&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;48285f000f7062133863b6fda64a59879d768516e789ebd04f6502fbf9a9ee90&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;5de724b1e1d249ab067d9e5c426b0d5685275ed76834cb71b6f90b59d500d880&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-01 09:24:49&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-01 09:24:56&quot;, &quot;record_count&quot;: 1598, &quot;records_hash&quot;: &quot;22a66173fa256c87032c97259b43762040edb11b6b64bbfa831ff828ab1a68b6&quot;, &quot;snapshot_id&quot;: &quot;fc6c2bfe546bad450e34a94aeee388aab4defbaa2a286ed04faeeeb76e3a0dd4&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;237c69c142bd582ec3f6e803128358beb0ad49d4a70a40cd93d8b1b36b8f4c43&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;1b4306b2d3a04b77056d308b77d38b1d15f55b34a8e7c53bf83f3176292be9b7&quot;, &quot;69c6c5ebd7a129030bfe868e3ceca61330aa663b8e872465fb49e21298b94250&quot;, &quot;b9f2b367b5d023fec56b5b889887df520268760a7b8f242ee982a259f4474216&quot;, &quot;0f1c77ae835bde113854beda1ef43f75ddd5d1e9293eed8e35b7f190819dbc51&quot;, &quot;71dfdc116cb6abc1fa27fba8d4d4538ee0d3af6bc6ec5467271b3636356a6949&quot;, &quot;f90e0f3474aa8c33dcb4b91b1c9838cea37d640aba615dc91dd7576f7bac2549&quot;, &quot;765fa6e1ec12a4906bc314af3f69a5bb0fa9c207a2a11728dade32c351e56b3b&quot;, &quot;7fce600d2b28dadfeee6ffc46d2a57c172dcb3c95ae97b1d392b54549db63005&quot;, &quot;ab8586f4be7aa160282e8a7f3bc77dfed4d3ae6ce900eb393e6d4ea5bda9cd15&quot;, &quot;abb7f7bdf1bf0480f9b57238f1834c81cb2d97a6657add7073992e5ac7053057&quot;, &quot;bc6122d5c9455e2f21f2692ce1e642972648c60d654060f236805f14a4e27f99&quot;, &quot;5e12ce97b6283cb26140c0a45c9fc988b66139de1474a2009769fe39f16d2af2&quot;, &quot;7ef5c20f939b7e066d0b36523f95b4551f444b8824b5e8b3675cc70f5e19fcf5&quot;, &quot;b49289564b55988268a0704ae952f99de9f42208f3cb8c0ec7aae2c644e4de48&quot;, &quot;99e877a34b5dac0dfa0b0c040dd69476da240c2d2bd27ffaeb98b1a101997ab8&quot;, &quot;345a8e4d76142ddc92f9a8265f767d6a52b92a86ad426f3991defcd147d30634&quot;, &quot;2be2009e3d1f4903a39bb13ec726c5f67eccde5e19086bf5fa160e738b027e25&quot;, &quot;3b35e2b3552acef1530160faec7517bc5d70bde558463de61ab96742276a1dc9&quot;, &quot;a6d6c318cf1d26198bf11f24a7aa64a02fc37c78ae2d9f821a8286ae368d3e63&quot;, &quot;06d767bf568af155ad874e68e9d1a79905d77bf0e0cb16cc94717c182eb4c925&quot;, &quot;6d9781097e346af32cd3ba10b126583d3f0781642dd9bd9445763d7df45bb6be&quot;, &quot;c993b28d877bab32cc5f213714a37b92a9bf5e42d9addb0094954fc67ee3586d&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-10-01 09:24:58&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-01 09:25:00&quot;, &quot;record_count&quot;: 768, &quot;records_hash&quot;: &quot;2f56e01223a45c2c71314b6eabcdabbde613aa072430f0bd3601d48455bd4f4b&quot;, &quot;snapshot_id&quot;: &quot;1b6f3366dddcb80bbdd55774ad9b8d439d10a9a9e19ef9eae55b11ba98553acb&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;c78a82f37aa2cad66b96d3ddf697e82f4dc88adda69a909227eb148ae1ad4a93&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;bef5f7d3d016973602b669778dea478bbf395e8e871502e3d3f7ab30f85fc9a5&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-10-01 09:24:53&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-01 09:24:56&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;cfeac21135125320999330b815e3d407765e4fd3f619c43854c7b7c5711668c2&quot;, &quot;snapshot_id&quot;: &quot;6780a1c413a57cdbdee0ecf20731539c6f354ccf1f7fc82adb8234b53ef9f678&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;d0398195cc1c4dfc0ab140f391204a0c38fabde4381700015ea1779de90336af&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;3308439a67789f873e4e8d50781a4945e84a04dbc9af302dd34bed2d0a6b50a3&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-10-01 08:54:38&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-10-01 08:54:44&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;56259b893f4c79c481acb724f8442ed0f3ef368cc35d7ec5af1428460b4edc9c&quot;, &quot;snapshot_id&quot;: &quot;adaed5341b78ac3977f6692e2cc26d0d6280b06d9a4fae190d5739aba4c87297&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-10-01 22:01:38</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-30 22:20:06</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-30 22:30:04</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-01 09:24:46</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>earnings_events</td><td>skipped</td><td class=\"num\">0</td><td>2026-10-01 09:24:46</td><td>—</td><td>AIB_ALPHAVANTAGE_API_KEY not configured</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-10-01 09:24:45</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-10-01 09:24:56</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">298</td><td>2026-10-01 23:48:22</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-10-01 23:28:36</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-10-01 09:26:36</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">137361</td><td>2026-10-01 09:24:45</td><td>—</td><td>partial: MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; KXIA</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">206</td><td>2026-10-01 21:05:55</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-10-01 23:35:49</td><td>—</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1790897754</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">462</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">606</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-10-01 09:24:45</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-10-01 09:24:45</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1598</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">768</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-10-01 09:24:45</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-30 22:10:08</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-10-01 09:24:46</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-10-01 09:24:45</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): earnings_calendar, earnings_events</li>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-10-02T05:10:09Z",
      "id": "urn:prexel:issue:63e78834-0888-550f-8d86-c9967d203092",
      "summary": "Prexel daily — period ending 2026-10-01. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 31 (daily)",
      "url": "https://prexel.xyz/issues/2026-10-01-daily-3fbfb4a3dd12.html"
    },
    {
      "_prexel": {
        "content_hash": "3f89f3136430c2184534d8f197b295f8c076c9fc1544dcb3ed38df77be9c9b3c",
        "context_hash": "5828c76a7627c4fc50a3ae52c3ba78134c28c177d8dde5f7bff2cfde4b0ef2ef",
        "kind": "daily",
        "period_end": "2026-09-29"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 30 (daily)</h1>\n<p>Period: 2026-09-29 → 2026-09-29</p>\n<p>Context hash: <code>5828c76a7627c4fc50a3ae52c3ba78134c28c177d8dde5f7bff2cfde4b0ef2ef</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>High-yield vs investment-grade credit: ▲ Bullish — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>B200 vs H100 rental price: ▼ Bearish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Dominion total electricity demand: ▼ Bearish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 24 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 15 bullish, 9 bearish, 8 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-20 04:42:32+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-28 15:49:32+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.5241635687732344; b200_h100_ratio_change_14d_pct=-0.064869050942439; b200_offered_usd_hr=6.79; band_measured_pct=-6.4869050942439; band_pct=5.0; h100_spot_usd_hr=2.69</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.5241635687732344, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.064869050942439, &#x27;b200_offered_usd_hr&#x27;: 6.79, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.4869050942439, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: -6.4869050942439, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.69}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-28 15:49:32+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-28 15:49:32+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.26; h100_depth_smoothed_3d=37.0; h100_dispersion_smoothed_3d=1.489521861076355; h100_price_change_14d_pct=-0.04004759144864982</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.26, &#x27;h100_depth_smoothed_3d&#x27;: 37.0, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.489521861076355, &#x27;h100_price_change_14d_pct&#x27;: -0.04004759144864982}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-28 15:49:32+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=5.332614851585344; band_pct=8.0; h100_spot_usd_hr=2.69; spot_trend_30d_pct=0.05332614851585344</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.332614851585344, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 5.332614851585344, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.69, &#x27;spot_trend_30d_pct&#x27;: 0.05332614851585344}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: Up 4.8% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 4.80%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.799051555860645, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 4.799051555860645, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2712654552, &#x27;total_tokens&#x27;: 174772979839616}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.87pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.6%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.8700585417298186, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.64413919367539, &#x27;top10_share_change_14d_pp&#x27;: -0.8700585417298186}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 9 cuts, 18 raises.; Fixed-basket price at prior-day token weights: $0.650/Mtok.; Seven-day like-for-like change: +4.44%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.441573941569699, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 345, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6496269154465896, &#x27;like_for_like_change_7d_pct&#x27;: 4.441573941569699, &#x27;price_cut_model_count&#x27;: 9, &#x27;price_raise_model_count&#x27;: 18}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -15.33%.; Token-weighted effective price: $0.636/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -15.334091835094055, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -15.334091835094055, &#x27;effective_price_usd_mtok&#x27;: 0.6356489778744524, &#x27;matched_model_count&#x27;: 346, &#x27;total_standard_tokens&#x27;: 137894977511020, &#x27;unmatched_token_share&#x27;: 2.431254898406344}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-28 15:49:28+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.8 listings/month.; Relative change: +88.4%.; Trailing three complete months: 106 new listings (35.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 88.44444444444446, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.75, &#x27;listing_rate_change_pct&#x27;: 88.44444444444446, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 106, &#x27;trailing_3mo_rate&#x27;: 35.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +10.12pp.; Open-weights share of routed standard tokens: 59.9%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-6.34pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 10.115892508162972, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -6.339046561078312, &#x27;chinese_lab_token_share&#x27;: 57.847727376593674, &#x27;matched_model_count&#x27;: 346, &#x27;openweights_share_change_14d_pp&#x27;: 10.115892508162972, &#x27;openweights_token_share&#x27;: 59.90434763104484}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-27 / 2026-09-28 15:49:37+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $41.73/MWh vs prior 14-day $53.88/MWh (-22.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -22.55056122545252, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 41.731878214285715, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.88273804767741, &#x27;caiso_da_trend_pct&#x27;: -22.55056122545252}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-27 / 2026-09-28 15:49:37+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.37 MMBtu/MWh vs prior 14-day 18.69 (-23.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -23.113271273839093, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.36812673968964, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 18.687395052094143, &#x27;caiso_heat_rate_trend_pct&#x27;: -23.113271273839093, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 06:56:39+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY -10.35% vs control mean +7.69% (gap -18.04pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -18.044605933160106, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 2.3011045091666524, &#x27;dc_load_premium_pp&#x27;: -18.044605933160106, &#x27;erco_load_yoy_7d_pct&#x27;: 13.086448063232094, &#x27;pjm_load_yoy_7d_pct&#x27;: -10.350829646960733}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▼ Bearish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 06:55:01+00:00</li>\n<li>interpretation: Dominion total electricity demand is below the same week last year, beyond the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY -5.13% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.127632547898908, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: -5.127632547898908, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 13.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -13.51%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.51151442329398, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -13.51151442329398, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;c9f0eb6298cb87119151b2adc65ba8977c4a15f62574aa3c62d2a8e1bbda7bda&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 3.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.55109665169695, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -3.55109665169695, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;DLR.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;ffdb8bb1428d2e0891eec023b7fda04bee5ffc055803c4dd992a098ffcddfea7&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;bda84d72f8ae6348b71de69ef246f1311f0932f488cb9ea60113041ebee29342&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f15efad6b51ec6faff1ac1192801f1540d37d7c7f3d166294e075d4dc7f4cfa7&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;5269d822ee27f86f32da7147f5cac06905b9928a4071e57c20402bb29505721c&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b2954556c2f92ecaeaad53e06a33cc73db4d94186adef4d03f1cfedb53bd8d3b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b808312ba9d6451fa856fb6efdccac05e3d340b0b156b4422ca3b01ae657c484&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;95220ab29547b0df6df61a91bb71b446f0231bae33fb12b4d9ae840678c9c34b&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fd62ddcbf76503876a536238832260aaf7381b277edfa9430c04c1d6743311d8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd60c96bc8d57b739da0129278570d04d1a39fe936f1b4a077a46a2da99a9575&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;6e20b370d7167aabaf1e5c5fcbbf1348033c034fa3cb2a6b7d51b09ce82604ec&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e47d04cc32d9ae5cefaf1fa09456b725bf3a382277d4dfdc63b699abc92f2e4f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e7d0562df26abb2aacf48dfc450a3f0acda4ac6166f091d697d2c4fbc4a95ebe&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e31cf38510a5f1dde68366a818aad7ca5079152953978b6a81e05705f46f927:3f2231ebd3ad49940cd1e87dda5b823759a6db88e0b8f12a69d28b3f04377c87&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:938eb887bc8547b9a329c921a61d01ba60ac82c8f29e6e1a7b0bbb68b069293f:c89acd17ea9888b5addb194ed08bfc548eddb153218340973821d3e31cd74357&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:230f5b6a81636da4d4a3118212b47d700f8eec18b311f173cb5a5734d0a94fdd:d3ff94167008a4baf7655788985740d1b53d4d697bf4839fe29e55d5489e8d72&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a97f815f61fadafaea325bd4d2f586aedb5c2891a85d38dbc58cb776b2570455:7614a54906d3a3a517240ab168b7c0cb19ae19990ce5d261b3c3665f51cfa0b1&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:28de5833ec572d420c03a5f034ccce4d11871fb1c64778a366bd2dedd02ec4d4:b6f0c16e435418d3c6790d629d7edea9a70092d9a1f65a93c1f532283050e542&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:cb493269b9b151e6a3347250ba582387288d0530429e9af78cdfc4c976f048ed&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 109.92660648582128}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.09%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.09048800630936382, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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07:12:01+00:00</li>\n<li>interpretation: Up 8.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.064954227838372, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 8.064954227838372, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;162bb3ea9c9e18ed0124dfffd45e57d52dec3f342e87b5cfaa907d2daa5bbb35&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9fcde77d46890e88892fec0e890bb54542c68b5bd45ac69ef5bcf31832faff92&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5ccd84e76256277fdb7d4ddfa053741e76e974942adf0e53c3424a132217c1d9&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;622d8b070f95efd6b37093ead6bacdc5f35722699ba63b774bf82f19481121ca&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;c4d4c25fafd9207f388a7f70771ceb694cb40fb46cd7c4ae910675afad2462f5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-09-29&#x27;, &#x27;row_count&#x27;: 377, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f7efaa85a1489bb3381a4d18af8cbd381d6ba9d57132c456ea9f916029cfe52e&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;95220ab29547b0df6df61a91bb71b446f0231bae33fb12b4d9ae840678c9c34b&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fd62ddcbf76503876a536238832260aaf7381b277edfa9430c04c1d6743311d8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd60c96bc8d57b739da0129278570d04d1a39fe936f1b4a077a46a2da99a9575&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;2167aa2bc514c1c05eeab67638896ca08548915464a19cbe63401edcb4ed1711&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;63247a99a6d5c4a5f85e018e2b9cfd8d93599b11539914462f23b3d5c4dbd530&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;41a5eb8ce5b8e7e8f9a2453a40b8c79252c12271c46654d47806302e5cc13b40&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;91c0e52de95e3d228fb5f2ca57ad4f74c8149fa291cbc3e604eb20af04804ccc&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;29b46104e3824e2c03c9183e23cc7f4710c4a66aec8cea10f2d2fba75cfa72fa&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-09-29&#x27;, &#x27;row_count&#x27;: 485, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;256b8db595f9acb7970050315d45f7e9e6d94311d5b11462aef064cc69537608&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e3f9e8dfe7aebb562ca4f5a0bbbd5bfc07c1d3046f99599967ee50441faee160:07896aaa31cdb0fd2d3ba8eaab8d06a921f2832790ab63ed7e3c9ca71dc9f99d&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fd60d8b70cf1817082558bf7c59ef73abc03fb52c64567a271ff8c6e84c12017:cb51044e8922961041cbb37099fbac4f91741617bcd22f5e29917aab1a031df3&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:974bb90fb85ba319b98b9152277743ea72628a9d88dc858c90ebbdeb357bbd88:0db3e315c37a0252ffb6fc10a64cfca51b4f7df7fc05fc5b7a17ffdb7b0e7496&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:afc7720f092ba4cc3a06aa837c5a9456c27daa07abd4a763b6d25704e623a8a1:29491057140a52c97c585a4e8df70d93d7ceaa233eafaff9eb41dc03743d383d&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b54a69b99a608eb66e70bd1c235b19f3230513b45e456f7c2da8a423196b6bd8:3d802f7a773812babef6832b35a263c7194f75cd67f964b6a6a560c9dc71e055&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:04d7a0e2bf120bd533c3151a7a9a280f36f47aaea5a776aba8a571058610da95&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 3.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.29%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.2945561744229135, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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9.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 9.08%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.077101657859377, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 9.077101657859377, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 139.1343404806645}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.20%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:005644936c56cdb7e167373646753afa97b991d422e57a32197684f251078a04&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:bfa5f0bd637f15c515d317f7b8b851d6dba454e7cba2dee9b10efa43ff120270&#x27;, &#x27;aib_bronze.equity_ohlcv:3edc88bd453286a9d6c54ce9fb7fee7b95ee7023be980bcb9e7e8e2042a68035:b127881d28f90e858e4712428c4703ef56e7e5b4f1e8898bd192f0a4b4e9cd7a&#x27;, &#x27;aib_bronze.equity_ohlcv:9bb3680aa66160a2df85bb7651105b7425238477c8337527dce104402bd661dc:03917702baf6db9e131e8067ba7cbd7b20ec94f0b2d9556fb7c4476f95e9f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.86954461963123}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.05%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.052168043947388, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 1.052168043947388, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;c3cc03c2e50eb84f5e1e7be0f7022064a2baa5669b8ed281674d12f2053429b3&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dfb1dd995983374fa87a4749e9ba929d412f558361de6208c2da6d6b4f2cf003&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: 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&#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:4b1aac2f05e12c6c88fc05efbe8f1a655589cce8d1f651b44e1d24f7840d034c&#x27;, &#x27;aib_bronze.equity_ohlcv:a1b3f049da921cc7d5d1213900751a96fa1732618e636150f6c98048ec0d1ca2:3f325d703bf55f4c789c54dfe7d9e69c44629634324d0c8fff2048f089990ca9&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.91398629115267}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 4.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.2559742579320154, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -4.2559742579320154, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;95220ab29547b0df6df61a91bb71b446f0231bae33fb12b4d9ae840678c9c34b&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fd62ddcbf76503876a536238832260aaf7381b277edfa9430c04c1d6743311d8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd60c96bc8d57b739da0129278570d04d1a39fe936f1b4a077a46a2da99a9575&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;64f053010ef8c38143c4fbcb54f2d3559e553d82a410ef17649d92d80074f4cf&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4772ec11618472c1c72a090af201717600fb33dae4dc284ae0087f5394e38661&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fdaf5aef9ce566b582c36660a56aea9cf97f9f35f9a078cf93b313426ff2481c&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:58a0ff49ecdf1b3ea61a4642b3f605524f971adf131197da1874a4141b5630e4&#x27;, &#x27;aib_bronze.equity_ohlcv:9291136a372cf4dbb0eb9dc2f511ea506609809cf168fb1ab69cb4a4ce88a774:e9149d63161ffd3a78ecf07ad0dd38d3901d9f1266086f8bb5b03d49c4e0a2a4&#x27;, &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;aib_bronze.equity_ohlcv:c34f89829b2ce08344b5449eb313b91972458e1892e0ac9658a1ca14efa62851:ff81027460ad97524a5ce5c27489c352ad7c0bbe50cc20e44a759214198439bb&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.79217690397746}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 3.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.24%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.2411443422204256, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 3.2411443422204256, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;95220ab29547b0df6df61a91bb71b446f0231bae33fb12b4d9ae840678c9c34b&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fd62ddcbf76503876a536238832260aaf7381b277edfa9430c04c1d6743311d8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd60c96bc8d57b739da0129278570d04d1a39fe936f1b4a077a46a2da99a9575&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;24044c08e8b789a2da57401471c56d95b87b18408bb477348c2f5387d879d894&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fe2f67ca768d1e777b3457c36930afff8e09daf079a68787a53b7eefdb1c23b0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;37466ccc5eca5f40adc6ffe569bee3e7dcc7db196714a2ad3a7ead24f412c480&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:58a0ff49ecdf1b3ea61a4642b3f605524f971adf131197da1874a4141b5630e4&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:a21105e69ec7e16f9941b58a6bc79201ed9c088fbf302824dc80b654428723b2:e212313a2214d80e2caf140f5365a3cba604cbb82bae74d1e232b905616b9995&#x27;, &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;aib_bronze.equity_ohlcv:ee5f4f2bf8fc158ce0555ba8b2482f620668a4af1e86061e5fc640b4332c0be6:7594d0570b8dc0f7e6765de3e469fe6ffbec02543f58a0cb73369a6171db1055&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.80438062447892}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 7.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.13%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: 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&#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2ba0df91575bb65c3807b55509e3b88765aaa516026db956418806fbb29e99d9:fb92d30c25c9dc1b3af8e6b6b20efcce131d07cd61be54c589f84ac3134d6b2b&#x27;, &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:58a0ff49ecdf1b3ea61a4642b3f605524f971adf131197da1874a4141b5630e4&#x27;, &#x27;aib_bronze.equity_ohlcv:996bd6cd6fbdecc85214526a16bafadffaca61715e47817a014cc33795fa8fe7:6b5746fc326b3bad043ad441121237dc679c172bcc653c5f493615ea8b003c6d&#x27;, &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 85.36206014362793}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Front VIX at 0.88× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.882.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;cce413763f7673b03fd5e8da52cf1842f0b01b74b7ec6864de322e3204d60b6e&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;55f0098dce4ae30fbe918cd23fb46375e8b10cc59aebba3f2e822306b616cdca&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;850234648e85277a026a82642dc4da9cb36ab7089480fbe489f4a7014e0e1118&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;618b8ea5d256f8ec4767b670d4087ab4bcc35a9527482e69a6378396c1f5c142&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7174b6c5874f239b97392de02010c77de5fa44d4feace9d08c2f569b2de781a8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3bd9a1bb422ccd9c55f058c17b8daa30f84beb2da85cafd9eefb3502196e549a&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0e3b60b982f37f1cba16e03fdb7ef2963874d4e03bf6e19f52f612b806e75ed2:6002954dc1f9a3b2c59941281d09514523e51dd8c5f3b16dc5c85092de0166be&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a292da35a54baf0431da371e7c5f5551f90720d177191fa70da373128f8b48c8:8299bb796580fe3737bd6ffc08e3cfe0f081bf62cd12ffd9e3fe2c30a758e2f3&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:26ac1251f59b56a51bd36a9f16721290f49d00425a98f8fbef6958920f63376c:8ce493e0979bc289ec91f7c6e12fc7e6b1caa5884843df4b99f786ff942145d9&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bc58ca66ac6acce6e5eac1eea7550e5bc10563c6d721b1ca2d0f9d881e2398b4:ba9651c1a18f9e6f2ca6b4bb4d6459be883fbcc3c0629d53927b425b169ab92b&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0e3b60b982f37f1cba16e03fdb7ef2963874d4e03bf6e19f52f612b806e75ed2:6002954dc1f9a3b2c59941281d09514523e51dd8c5f3b16dc5c85092de0166be&#x27;, &#x27;aib_bronze.equity_ohlcv:26ac1251f59b56a51bd36a9f16721290f49d00425a98f8fbef6958920f63376c:8ce493e0979bc289ec91f7c6e12fc7e6b1caa5884843df4b99f786ff942145d9&#x27;, &#x27;aib_bronze.equity_ohlcv:a292da35a54baf0431da371e7c5f5551f90720d177191fa70da373128f8b48c8:8299bb796580fe3737bd6ffc08e3cfe0f081bf62cd12ffd9e3fe2c30a758e2f3&#x27;, &#x27;aib_bronze.equity_ohlcv:bc58ca66ac6acce6e5eac1eea7550e5bc10563c6d721b1ca2d0f9d881e2398b4:ba9651c1a18f9e6f2ca6b4bb4d6459be883fbcc3c0629d53927b425b169ab92b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8815139879319802}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.7086205118167932, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 0.7086205118167932, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;b77205856179b893728a575f06e3fafd93abc4c18179545460a59f1ad6f1c672&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;0dd75e33a0759b1601a561aa384ab80d8adf19a0a5add75555ed379996d25eba&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;10d82fe08acd24939e0dfb77d06f0616e8fbee90f7d927f621b7a2b824cc3f1e&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;36269932b63d3e43fc4a135c49a0893e4617964c3bb89b017bfc5a892419ca19&#x27;, 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&#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:d79f1ee4993a7d9dc7660f9c446e6bc3c703486aa4aa3d8fe26efba80e93cf2a&#x27;, &#x27;aib_bronze.equity_ohlcv:4fabcb2beb4595675db3f524cb1550e1a0aeb2116b73f8506d315f0ca5812482:5fa52c10698cb747383b9fa777de286a0ccaa34eb5978750c5de338becce7dfe&#x27;, &#x27;aib_bronze.equity_ohlcv:8b80af60ef71e7e08c698256183e33d4d524cfdad709a1329a461d67d13a422e:31d9a08bbeb8821a4271aa6533be6a6d1ab6e1294474744302986f5581e2578e&#x27;, &#x27;aib_bronze.equity_ohlcv:8e92112f3388dc0f69792355a50bdee58b5ae6abc15efd16f6f1f2706844ee64:1230ae5a01ed147ed0af0cf4d7f229746ece254daad1b3ca9ed42860c3518e28&#x27;, &#x27;aib_bronze.equity_ohlcv:9515b71383e75597af80c78b8cf846a8b1fe3480b0fb9477712a7a2bf9397ffc:bdae1e2d8b133fd310588f80969be96077e5d4b391bc600c6fa09813bf329fa3&#x27;, &#x27;aib_bronze.equity_ohlcv:a9ebb252e05971049b6c978884c0d7be287911a02888c50b99368166b0cd44a0:c9d3ebcb19fde86038920cc3ea40293c45c3584b75199e3b794ded8073379dcd&#x27;, &#x27;aib_bronze.equity_ohlcv:c6ba893c9781020ecf6f05613ca5ce545fb8a82b8aafe3a5ce317db659b6c2d9:68c03bea96f8ac5b8cd7e3870e45909bc2d5f439e32f0f6ddaa34138251a62bc&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:9f87d3ec5dc83c6b0c5b672bffdba2f22f20b8a9321d08dc1595c187dae6b622&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.8170446675332}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-27 / 2026-09-27 22:36:56+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,000B (conditional on an IPO), -4.50% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $2,177.; Probability-weighted bucket midpoint: $1,000B.; Seven-day implied-cap change: -4.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.496124031007753, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0375, &#x27;full_set_prob_sum&#x27;: 1.0010000000000001, &#x27;implied_cap_change_7d_pct&#x27;: -4.496124031007753, &#x27;implied_cap_usd_b&#x27;: 1000.0, &#x27;ipo_by_2026_prob&#x27;: 0.0465, &#x27;no_ipo_by_2026_prob&#x27;: 0.9635, &#x27;volume_24h_total&#x27;: 2177.2000000000003}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-28</td><td class=\"num\">139,199</td><td class=\"num\">24</td><td>—</td><td class=\"num\">26.02</td></tr>\n<tr><td>CISO</td><td>2026-09-28</td><td class=\"num\">684,578</td><td class=\"num\">24</td><td>—</td><td class=\"num\">6.249</td></tr>\n<tr><td>ERCO</td><td>2026-09-28</td><td class=\"num\">1,624,827</td><td class=\"num\">24</td><td>—</td><td class=\"num\">19.94</td></tr>\n<tr><td>PJM</td><td>2026-09-28</td><td class=\"num\">2,062,884</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-9.016</td></tr>\n<tr><td>SOCO</td><td>2026-09-28</td><td class=\"num\">606,178</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-8.84</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">42.09</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">37.81</td><td class=\"num\">0</td><td class=\"num\">-4.283</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">36.48</td><td class=\"num\">0</td><td class=\"num\">-5.61</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.69</li>\n<li>as of: 2026-09-28</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.05333</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>272 benchmarked model identities; 211 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 1,375,412,995,018</td></tr>\n<tr><td>Claude Sonnet 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>Unreported</td></tr>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,857,779,524,217</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 221,221,793,883</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,754,394,931,894</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">5,308,658,090,390</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 115,095,947,258</td></tr>\n<tr><td>GPT-6 Sol (max)</td><td class=\"num\">47.5</td><td>$2 / $10</td><td>≥ 991,613,188,497</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 100 eligible configurations.</p>\n<p>Usage window: 2026-08-30 → 2026-09-28. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-09-29 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;4864d04498431ebeb99b34a0224a313c0f6ef98c8c8f7d6b94b75203100309d9&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;cacd4b41680587222d65c905a350a313bcfaba6571117e304e0ad6638bb717a8&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;f3fbafb1a92dede04b2c79eddb00693fd95fdc919596880bc60f77230e6d9472&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-29 05:53:14&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-29 05:53:15&quot;, &quot;record_count&quot;: 1576, &quot;records_hash&quot;: &quot;b413cd02ca2f6557336b0ad2f7dcc8e2f1d6440c68e8c2ee47a4d3b86c351ddd&quot;, &quot;snapshot_id&quot;: &quot;be3b4a7e0080dabdda3aedc3d9f5b738e8bb8111db01f5901526f61defbb8b7a&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;f947448ffd07626733892233e97a0bfd7f6606be05e4224de49fdae27f3a29b6&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;e792cdf93cf056b6a2c7ff03cddd0345fb8fd94cd9b49d1764f547bed46bce7d&quot;, &quot;872e33ad3f9dd332498ad0fd4e0641fe682a1e1815125e25a80408801ec36dfb&quot;, &quot;dcd01b99e4a15b42d494a9569de347e94c358207f4f16b93b8cddae4128147ee&quot;, &quot;3ae3955ede5fb49296f00f90330d880e9d78d7eb5406b7c6f3d07f94732c98f1&quot;, &quot;fde2ae21561c9b6dde49b67ec0e7d823f07c0c3f6a14e1f17f9e5e99e29a8c39&quot;, &quot;158467bafe35d9386321dd28ceaee8b1579491f1c0ff1335587205e1e7e12b35&quot;, &quot;95fbe9a41fef289712dc45f8f4ea53da7d016e2b763813e8d79e784ede0574ac&quot;, &quot;bc0ae9f6f4b93b7969a0b3c21b3470355a43b7c436e09eb699be91c6ff452505&quot;, &quot;86fe3a16d60c5f4c449429a9829ebaa8f40da729590225d2c0a9bf12d318ac7f&quot;, &quot;1f165215a8a5b7f655b2d60e29ad4c820f040494e6a1658683fad15242de9ada&quot;, &quot;5bcd28526223cc5f2b1da8e19a84d2b15d4dc22e8365d5da395e44e042f7a9c3&quot;, &quot;cd1d7c11622b96b4c156de6fc03d21905ef55f0fe84c3dd88945b7775e86adc7&quot;, &quot;7232922758f430a77a738d390e3cad847b957ece9ada4d08a87c58bafe202843&quot;, &quot;7cc3b4dc128301665f2bbc4ca6a32a8e57a7cd9031e102d9bf9cd400460336b5&quot;, &quot;7f37687cbcda1bf2f599aab194d1ee4e1a96f9f354ea5c1f7d58d04d5a2ec164&quot;, &quot;0a93279e043d3dea76413aa7724242538c6d844f015d122f453282e06722c15a&quot;, &quot;b1db035fa4a3977de64fad9076998bfa4e83432d164c14d64fd1c5def0e7df96&quot;, &quot;094030adc602033815efb19bcc1359e6d703e2966b50f6ea614f8f6e72c16a6e&quot;, &quot;0e29e1ca8a8586298301ff2909981b3fc3767b53ec1bc66884ce8743d8bf1712&quot;, &quot;9c303120ec581838312ddeb676f2228e34f91fe5f303764606f82a9f77dcdfbe&quot;, &quot;19090473c991186c986f97eb97fab4646a07039ee78e939b5e64191724c46699&quot;, &quot;95caeee9cb2393358c7c091545123dd9be57df56bba3dd19ad1ad092f30e8236&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-09-29 05:53:23&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-29 05:53:25&quot;, &quot;record_count&quot;: 766, &quot;records_hash&quot;: &quot;978df31f13ad67c7f0a0ab42a5e224d17e469a2197b56a00c8605bc4787a8578&quot;, &quot;snapshot_id&quot;: &quot;8cb9d15ff024266ae8a71b6950868b6b8103da4fb9b7ff66448a3d5fe3940c23&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;8c76641e44c1c92c4a3e6375e455cd9cda209bc043da01c09bf42b711910f435&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;e7e837ca8cec3fd318c3d119c3ed44a341c078f8cb392bd3a1afc677be029fc0&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-29 05:53:15&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-29 05:53:16&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;3db1c5cc61f1113355d413ee3ddfe024eee8581f30f49389e7738e04a49321e5&quot;, &quot;snapshot_id&quot;: &quot;20e25b9fb3346ad7a4feffd533d8da71314ee8cf8668e0df8f69118c385a008e&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;a0e2432a01962d2851b7e4609afd7d96cc352bbd9703d11cf531ace57e2cec3f&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;5289577ca041628fc2109c46d71a424ce4afc4289ba3604e709e6b6cfef3baeb&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-09-29 05:53:14&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-29 05:53:14&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;de470ffd73b62f9dff05a419257ba46009a1f56e54847162c88b127f3ca56383&quot;, &quot;snapshot_id&quot;: &quot;1ed48c2bb92432b2f5b84eb1765812ba2e2f82d13e72ea103ad25d774a6ae723&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 23:02:26</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 22:20:04</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 22:30:05</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">7</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:15</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-09-29 23:12:34</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-29 22:58:21</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 07:12:20</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">638</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">136829</td><td>2026-09-29 07:08:11</td><td>—</td><td>partial: MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; KXIA</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">222</td><td>2026-09-29 18:10:24</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 23:09:13</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">460</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">600</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1576</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">766</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>report</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 22:10:08</td><td>—</td><td>ClaimPolicyError</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: catalyst_markets, engine, iso_lmp, policy_events, report</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-30T22:10:14Z",
      "id": "urn:prexel:issue:cd60c0a8-0016-535d-a5f6-01dadf759d78",
      "summary": "Prexel daily — period ending 2026-09-29. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 30 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-29-daily-3f89f3136430.html"
    },
    {
      "_prexel": {
        "content_hash": "d3a7449db0753ce0d5d69aa00f2361e69780509d4b63ef0ddc252c0eabd74a9b",
        "context_hash": "5828c76a7627c4fc50a3ae52c3ba78134c28c177d8dde5f7bff2cfde4b0ef2ef",
        "kind": "daily",
        "period_end": "2026-09-29"
      },
      "content_html": "<h1>PREXEL — AI_BUILDOUT · Issue No. 30 (daily)</h1>\n<p>Period: 2026-09-29 → 2026-09-29</p>\n<p>Context hash: <code>5828c76a7627c4fc50a3ae52c3ba78134c28c177d8dde5f7bff2cfde4b0ef2ef</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>80 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>40ee966fe700faaa8e6e312a81ce5e7a509af3195c25fe546bcd6d47e8b22074</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4d8c25d038ee4aa22fb0bf874bca439343f111fadb31968f7e89821a27669ddb</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>power-z-publication-floor-2026-09-22-v1</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time. Other power z-scores now require at least 30 prior reference observations and retain sample counts. DA/RT spread standardization includes historical reference clocks. No power alpha is claimed.</li>\n</ul>\n<p>Correction hash: <code>6a9779892497e1941a3a7f05c2bb72917dd28726ae4dd0de8359ec12d02f3457</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>d66fa2249637b81b6ee5e82de325ab75d1a6a847295ab2f5cfed2dcb0f1a79a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-22 05:57:30: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Correction hash: <code>6fdf634bce35728c4038492ab567cb4a2d100f1ea3571f0b792e018fbe957a89</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dependency-clocks-2026-09-21-v1</code> · 2026-09-22 03:58:09: Baseline and comparison knowledge clocks were omitted in inference-demand, catalyst, model-economics and OpenAI valuation derivations. New revisions retain their contributing input projections and use the maximum dependency timestamp, including fixed-basket prior catalogs and the independent IPO cross-check. This is a prospective clock/provenance repair; previous numeric values and historical availability are not certified by this notice. Retained replay also requires archive/observation clocks.</li>\n</ul>\n<p>Correction hash: <code>3d610d56e95d7f59962d9e7639fab15877b5ed8da597cea92aa1921130bc8a43</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>ff170f9fdbc5c79ec8365bc74daaa40df6d8d70846517a27960aa1f91e4585d8</code> · 2026-09-21 01:56:32: Same issuer and common stock; issuer notice states unchanged CUSIP. Vendor identifies P.US as Everpure. All 416 retained PSTG raw closes match the P.US response. Canonical legacy key remains stable; this is not the current tradable ticker.</li>\n</ul>\n<p>Correction hash: <code>4a9c55c72697a7688f0c6b6008d676193d12053744775336eefbfa60f1443ec2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e053e3820ff3c453422129105ccd63cdcf211feb5a62faba40a2e6354b5d07e7</code> · 2026-09-21 01:56:32: Unresolved vendor history revision: 27 omitted dates, two retained 999999.9999 zero-volume bars, and 170 changed overlapping unadjusted closes. Keep out of derived series until upstream identity, currency, ADR ratio and revision basis are reconciled; a successful HTTP response is insufficient.</li>\n</ul>\n<p>Correction hash: <code>1f305a31fb6960aa440262a25d112e0cab28fefc2d787cf6bb5e4ebe7ad177b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-21 01:56:32: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Correction hash: <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>990e88e5856928083d0f3b26bd2c22ba425a21c5a532cfda902a24dac72cdccf</code> · 2026-09-21 01:56:32: Issuer requested an ASX trading halt from the start of 16 September 2025; completion notice schedules reopening 17 September. Old zero-volume bar repeats the prior close. Fresh full and one-day vendor responses omit the halted date. Preserve original row; omit this exact version from current calculations.</li>\n</ul>\n<p>Correction hash: <code>1c580707ef1778cef88843279da569651abab4ac4441c9c55c301bb943eff0d5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<p>Comparison incomplete. Listed changes are confirmed; other changes may be missing.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>High-yield vs investment-grade credit: ▲ Bullish — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▲ Bullish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>B200 vs H100 rental price: ▼ Bearish — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Inference price cuts (like-for-like): ▲ Bullish — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Effective inference price: ▼ Bearish — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>PJM load-growth difference: ▼ Bearish — PJM load-growth difference versus CISO/ERCO (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Dominion total electricity demand: ▼ Bearish — Dominion total electricity demand (Near term); Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-09-29T07:12:24.585138+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 24 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 15 bullish, 9 bearish, 8 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-20 04:42:32+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Narrative</h2>\n<p>Narrative unavailable: draft failed deterministic validation and was omitted in full (4 violation(s); see logs).</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-28 15:49:32+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.5241635687732344; b200_h100_ratio_change_14d_pct=-0.064869050942439; b200_offered_usd_hr=6.79; band_measured_pct=-6.4869050942439; band_pct=5.0; h100_spot_usd_hr=2.69</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.5241635687732344, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.064869050942439, &#x27;b200_offered_usd_hr&#x27;: 6.79, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.4869050942439, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: -6.4869050942439, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.69}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-28 15:49:32+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-28 15:49:32+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.26; h100_depth_smoothed_3d=37.0; h100_dispersion_smoothed_3d=1.489521861076355; h100_price_change_14d_pct=-0.04004759144864982</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.26, &#x27;h100_depth_smoothed_3d&#x27;: 37.0, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.489521861076355, &#x27;h100_price_change_14d_pct&#x27;: -0.04004759144864982}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-28 15:49:32+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=5.332614851585344; band_pct=8.0; h100_spot_usd_hr=2.69; spot_trend_30d_pct=0.05332614851585344</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 5.332614851585344, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 5.332614851585344, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.69, &#x27;spot_trend_30d_pct&#x27;: 0.05332614851585344}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: Up 4.8% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 4.80%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.799051555860645, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 4.799051555860645, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2712654552, &#x27;total_tokens&#x27;: 174772979839616}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: -0.87pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.6%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -0.8700585417298186, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.64413919367539, &#x27;top10_share_change_14d_pp&#x27;: -0.8700585417298186}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▲ Bullish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are rising through their band — per-token seller economics are firming like-for-like.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 9 cuts, 18 raises.; Fixed-basket price at prior-day token weights: $0.650/Mtok.; Seven-day like-for-like change: +4.44%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 4.441573941569699, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 345, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6496269154465896, &#x27;like_for_like_change_7d_pct&#x27;: 4.441573941569699, &#x27;price_cut_model_count&#x27;: 9, &#x27;price_raise_model_count&#x27;: 18}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ▼ Bearish</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: The effective inference price is falling through its band — per-token seller economics are eroding.</li>\n<li>evidence: Seven-day effective-price change: -15.33%.; Token-weighted effective price: $0.636/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -15.334091835094055, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -15.334091835094055, &#x27;effective_price_usd_mtok&#x27;: 0.6356489778744524, &#x27;matched_model_count&#x27;: 346, &#x27;total_standard_tokens&#x27;: 137894977511020, &#x27;unmatched_token_share&#x27;: 2.431254898406344}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-28 15:49:28+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.8 listings/month.; Relative change: +88.4%.; Trailing three complete months: 106 new listings (35.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 88.44444444444446, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.75, &#x27;listing_rate_change_pct&#x27;: 88.44444444444446, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 106, &#x27;trailing_3mo_rate&#x27;: 35.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 05:53:14+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +10.12pp.; Open-weights share of routed standard tokens: 59.9%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-6.34pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 10.115892508162972, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -6.339046561078312, &#x27;chinese_lab_token_share&#x27;: 57.847727376593674, &#x27;matched_model_count&#x27;: 346, &#x27;openweights_share_change_14d_pp&#x27;: 10.115892508162972, &#x27;openweights_token_share&#x27;: 59.90434763104484}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-27 / 2026-09-28 15:49:37+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $41.73/MWh vs prior 14-day $53.88/MWh (-22.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -22.55056122545252, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 41.731878214285715, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.88273804767741, &#x27;caiso_da_trend_pct&#x27;: -22.55056122545252}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-27 / 2026-09-28 15:49:37+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.37 MMBtu/MWh vs prior 14-day 18.69 (-23.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -23.113271273839093, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.36812673968964, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 18.687395052094143, &#x27;caiso_heat_rate_trend_pct&#x27;: -23.113271273839093, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 06:56:39+00:00</li>\n<li>interpretation: PJM total load growth is below the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY -10.35% vs control mean +7.69% (gap -18.04pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -18.044605933160106, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 2.3011045091666524, &#x27;dc_load_premium_pp&#x27;: -18.044605933160106, &#x27;erco_load_yoy_7d_pct&#x27;: 13.086448063232094, &#x27;pjm_load_yoy_7d_pct&#x27;: -10.350829646960733}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▼ Bearish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 06:55:01+00:00</li>\n<li>interpretation: Dominion total electricity demand is below the same week last year, beyond the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY -5.13% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.127632547898908, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: -5.127632547898908, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 13.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -13.51%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.51151442329398, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -13.51151442329398, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;c9f0eb6298cb87119151b2adc65ba8977c4a15f62574aa3c62d2a8e1bbda7bda&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;271278233451d99491fdeca5fcd59924bd0169860189785449c315fe0a45895e&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;67ac3173f1196af4bdab6ca5aec3bf43c5688905ad22ecfb5fd98a7605c9635c&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, &#x27;CCJ.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;861582f622cd2b0174d084563afa8c7b2ff4f58817e8b20b80c0e2139786d24f&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;bb1cd6fc9ab1ef2867389176df19b4742ee341deb9f12f5461c36e3d6575629c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;37584abb3d8a22b3844a0383620854c02fb816ec4bd810e4fd3f75dc219afc83&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;95220ab29547b0df6df61a91bb71b446f0231bae33fb12b4d9ae840678c9c34b&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fd62ddcbf76503876a536238832260aaf7381b277edfa9430c04c1d6743311d8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd60c96bc8d57b739da0129278570d04d1a39fe936f1b4a077a46a2da99a9575&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;LEU.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;1dfb448fe83cfa1970dc9294a504c07c4139ad12be3b8e1d83b2066a3695e008&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;ab1b19c01aaff52cc43dd1ac4534fe9a8bb9273598dd0ed0fc6e2f276eca439f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cf645746bc0b9e9dca1f1e2e57b0907751fb5edcbcf7ed31ccf481949a756058&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, &#x27;OKLO.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;48f9d86a140a8e7a160b3c676fd6df4782ad84b2ebe1376a85fe44d4de1ff3da&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: 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(needs 28 days)</li>\n<li>data quality: insufficient z sample; total regional demand; data-centre consumption is not isolated; weekday baseline; weather effects not isolated</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 3.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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&#x27;f15efad6b51ec6faff1ac1192801f1540d37d7c7f3d166294e075d4dc7f4cfa7&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, &#x27;EQIX.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;5269d822ee27f86f32da7147f5cac06905b9928a4071e57c20402bb29505721c&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;b2954556c2f92ecaeaad53e06a33cc73db4d94186adef4d03f1cfedb53bd8d3b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;b808312ba9d6451fa856fb6efdccac05e3d340b0b156b4422ca3b01ae657c484&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;95220ab29547b0df6df61a91bb71b446f0231bae33fb12b4d9ae840678c9c34b&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fd62ddcbf76503876a536238832260aaf7381b277edfa9430c04c1d6743311d8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd60c96bc8d57b739da0129278570d04d1a39fe936f1b4a077a46a2da99a9575&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IRM.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;6e20b370d7167aabaf1e5c5fcbbf1348033c034fa3cb2a6b7d51b09ce82604ec&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;e47d04cc32d9ae5cefaf1fa09456b725bf3a382277d4dfdc63b699abc92f2e4f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e7d0562df26abb2aacf48dfc450a3f0acda4ac6166f091d697d2c4fbc4a95ebe&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e31cf38510a5f1dde68366a818aad7ca5079152953978b6a81e05705f46f927:3f2231ebd3ad49940cd1e87dda5b823759a6db88e0b8f12a69d28b3f04377c87&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:938eb887bc8547b9a329c921a61d01ba60ac82c8f29e6e1a7b0bbb68b069293f:c89acd17ea9888b5addb194ed08bfc548eddb153218340973821d3e31cd74357&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:230f5b6a81636da4d4a3118212b47d700f8eec18b311f173cb5a5734d0a94fdd:d3ff94167008a4baf7655788985740d1b53d4d697bf4839fe29e55d5489e8d72&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a97f815f61fadafaea325bd4d2f586aedb5c2891a85d38dbc58cb776b2570455:7614a54906d3a3a517240ab168b7c0cb19ae19990ce5d261b3c3665f51cfa0b1&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:28de5833ec572d420c03a5f034ccce4d11871fb1c64778a366bd2dedd02ec4d4:b6f0c16e435418d3c6790d629d7edea9a70092d9a1f65a93c1f532283050e542&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.09%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.09048800630936382, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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07:12:01+00:00</li>\n<li>interpretation: Up 8.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.064954227838372, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 8.064954227838372, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;162bb3ea9c9e18ed0124dfffd45e57d52dec3f342e87b5cfaa907d2daa5bbb35&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;9fcde77d46890e88892fec0e890bb54542c68b5bd45ac69ef5bcf31832faff92&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;5ccd84e76256277fdb7d4ddfa053741e76e974942adf0e53c3424a132217c1d9&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;622d8b070f95efd6b37093ead6bacdc5f35722699ba63b774bf82f19481121ca&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;c4d4c25fafd9207f388a7f70771ceb694cb40fb46cd7c4ae910675afad2462f5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-09-29&#x27;, &#x27;row_count&#x27;: 377, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;f7efaa85a1489bb3381a4d18af8cbd381d6ba9d57132c456ea9f916029cfe52e&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;95220ab29547b0df6df61a91bb71b446f0231bae33fb12b4d9ae840678c9c34b&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fd62ddcbf76503876a536238832260aaf7381b277edfa9430c04c1d6743311d8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd60c96bc8d57b739da0129278570d04d1a39fe936f1b4a077a46a2da99a9575&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;2167aa2bc514c1c05eeab67638896ca08548915464a19cbe63401edcb4ed1711&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;63247a99a6d5c4a5f85e018e2b9cfd8d93599b11539914462f23b3d5c4dbd530&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;41a5eb8ce5b8e7e8f9a2453a40b8c79252c12271c46654d47806302e5cc13b40&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;91c0e52de95e3d228fb5f2ca57ad4f74c8149fa291cbc3e604eb20af04804ccc&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;29b46104e3824e2c03c9183e23cc7f4710c4a66aec8cea10f2d2fba75cfa72fa&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-09-29&#x27;, &#x27;row_count&#x27;: 485, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;256b8db595f9acb7970050315d45f7e9e6d94311d5b11462aef064cc69537608&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e3f9e8dfe7aebb562ca4f5a0bbbd5bfc07c1d3046f99599967ee50441faee160:07896aaa31cdb0fd2d3ba8eaab8d06a921f2832790ab63ed7e3c9ca71dc9f99d&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fd60d8b70cf1817082558bf7c59ef73abc03fb52c64567a271ff8c6e84c12017:cb51044e8922961041cbb37099fbac4f91741617bcd22f5e29917aab1a031df3&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:974bb90fb85ba319b98b9152277743ea72628a9d88dc858c90ebbdeb357bbd88:0db3e315c37a0252ffb6fc10a64cfca51b4f7df7fc05fc5b7a17ffdb7b0e7496&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:afc7720f092ba4cc3a06aa837c5a9456c27daa07abd4a763b6d25704e623a8a1:29491057140a52c97c585a4e8df70d93d7ceaa233eafaff9eb41dc03743d383d&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b54a69b99a608eb66e70bd1c235b19f3230513b45e456f7c2da8a423196b6bd8:3d802f7a773812babef6832b35a263c7194f75cd67f964b6a6a560c9dc71e055&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:04d7a0e2bf120bd533c3151a7a9a280f36f47aaea5a776aba8a571058610da95&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;aib_bronze.equity_ohlcv:b54a69b99a608eb66e70bd1c235b19f3230513b45e456f7c2da8a423196b6bd8:3d802f7a773812babef6832b35a263c7194f75cd67f964b6a6a560c9dc71e055&#x27;, &#x27;aib_bronze.equity_ohlcv:b76c1894fde00372486d5c7b87cb275e44acb82e76743b70323c901f700da5b6:30778bcdd4fab23c5215b78272ec8f1330c9a643d66bdd459b1c092cc11ebec0&#x27;, &#x27;aib_bronze.equity_ohlcv:e3f9e8dfe7aebb562ca4f5a0bbbd5bfc07c1d3046f99599967ee50441faee160:07896aaa31cdb0fd2d3ba8eaab8d06a921f2832790ab63ed7e3c9ca71dc9f99d&#x27;, &#x27;aib_bronze.equity_ohlcv:fd60d8b70cf1817082558bf7c59ef73abc03fb52c64567a271ff8c6e84c12017:cb51044e8922961041cbb37099fbac4f91741617bcd22f5e29917aab1a031df3&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 115.25513244151593}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 3.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.29%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.2945561744229135, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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9.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 9.08%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 9.077101657859377, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 9.077101657859377, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 139.1343404806645}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.20%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:bfa5f0bd637f15c515d317f7b8b851d6dba454e7cba2dee9b10efa43ff120270&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:005644936c56cdb7e167373646753afa97b991d422e57a32197684f251078a04&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0b910842bf452fce6ec8582076f484528fafc66d4d0c738e4c1f67c4835fb6ab:b8110dafb58723454502025462058279315296921303f1c28cd2e55260caf99a&#x27;, &#x27;aib_bronze.equity_ohlcv:15e8cbd6c68985aae5d15aa72bc21bb36ac67bcb827c0f70c50c41554201d92e:3caa5f9b7712ac035f04a568b762affa4b8a330a85192a3ae31c05b7d3622873&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:005644936c56cdb7e167373646753afa97b991d422e57a32197684f251078a04&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:bfa5f0bd637f15c515d317f7b8b851d6dba454e7cba2dee9b10efa43ff120270&#x27;, &#x27;aib_bronze.equity_ohlcv:3edc88bd453286a9d6c54ce9fb7fee7b95ee7023be980bcb9e7e8e2042a68035:b127881d28f90e858e4712428c4703ef56e7e5b4f1e8898bd192f0a4b4e9cd7a&#x27;, &#x27;aib_bronze.equity_ohlcv:9bb3680aa66160a2df85bb7651105b7425238477c8337527dce104402bd661dc:03917702baf6db9e131e8067ba7cbd7b20ec94f0b2d9556fb7c4476f95e9f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.86954461963123}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.05%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.052168043947388, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 1.052168043947388, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;c3cc03c2e50eb84f5e1e7be0f7022064a2baa5669b8ed281674d12f2053429b3&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;dfb1dd995983374fa87a4749e9ba929d412f558361de6208c2da6d6b4f2cf003&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;1630587bb37478c154f1d8bafa7d7bef0d5bc669c56a7373d4946c29c0d9eb05&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;879a6516c8a4298a17ea54da294327d51efa374688c2f135355a07c49ecb2b8e&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;6c786a7de41a674ef73331d50cab76b032cc016af6021451b54a7ec0778742d5&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;428bc6e3a243830fac572dc54c58709a11228bb7e5daedd8ed81f134397f385d&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1fb0d02de0c5f3823aa81105126b57cb9bf947e199b69c084e81a2f953e64250:0dce3ee20ec207d0a7fc2b6c833a5f50b9ff55064d6654e21e2727b5cd8b5b41&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:087317acca49877effa4597606cce7a06860030ac2bbe8047627676a4783d52f:66f70e39b741fa870faca6f67761fb6cc0e75c7513bde687af6da009658d2398&#x27;, 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&#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:4b1aac2f05e12c6c88fc05efbe8f1a655589cce8d1f651b44e1d24f7840d034c&#x27;, &#x27;aib_bronze.equity_ohlcv:a1b3f049da921cc7d5d1213900751a96fa1732618e636150f6c98048ec0d1ca2:3f325d703bf55f4c789c54dfe7d9e69c44629634324d0c8fff2048f089990ca9&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 103.91398629115267}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 4.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.2559742579320154, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -4.2559742579320154, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;95220ab29547b0df6df61a91bb71b446f0231bae33fb12b4d9ae840678c9c34b&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fd62ddcbf76503876a536238832260aaf7381b277edfa9430c04c1d6743311d8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd60c96bc8d57b739da0129278570d04d1a39fe936f1b4a077a46a2da99a9575&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;64f053010ef8c38143c4fbcb54f2d3559e553d82a410ef17649d92d80074f4cf&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;4772ec11618472c1c72a090af201717600fb33dae4dc284ae0087f5394e38661&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;fdaf5aef9ce566b582c36660a56aea9cf97f9f35f9a078cf93b313426ff2481c&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:87e83c00730a4eddc8dc1114b74ea1e147abb48312ba17c0fc7e19a1a196f5a6&#x27;, &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:58a0ff49ecdf1b3ea61a4642b3f605524f971adf131197da1874a4141b5630e4&#x27;, &#x27;aib_bronze.equity_ohlcv:9291136a372cf4dbb0eb9dc2f511ea506609809cf168fb1ab69cb4a4ce88a774:e9149d63161ffd3a78ecf07ad0dd38d3901d9f1266086f8bb5b03d49c4e0a2a4&#x27;, &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;aib_bronze.equity_ohlcv:c34f89829b2ce08344b5449eb313b91972458e1892e0ac9658a1ca14efa62851:ff81027460ad97524a5ce5c27489c352ad7c0bbe50cc20e44a759214198439bb&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 96.79217690397746}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 3.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.24%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.2411443422204256, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 3.2411443422204256, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;95220ab29547b0df6df61a91bb71b446f0231bae33fb12b4d9ae840678c9c34b&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fd62ddcbf76503876a536238832260aaf7381b277edfa9430c04c1d6743311d8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;cd60c96bc8d57b739da0129278570d04d1a39fe936f1b4a077a46a2da99a9575&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;24044c08e8b789a2da57401471c56d95b87b18408bb477348c2f5387d879d894&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;fe2f67ca768d1e777b3457c36930afff8e09daf079a68787a53b7eefdb1c23b0&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 529, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;37466ccc5eca5f40adc6ffe569bee3e7dcc7db196714a2ad3a7ead24f412c480&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:58a0ff49ecdf1b3ea61a4642b3f605524f971adf131197da1874a4141b5630e4&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:a21105e69ec7e16f9941b58a6bc79201ed9c088fbf302824dc80b654428723b2:e212313a2214d80e2caf140f5365a3cba604cbb82bae74d1e232b905616b9995&#x27;, &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;aib_bronze.equity_ohlcv:ee5f4f2bf8fc158ce0555ba8b2482f620668a4af1e86061e5fc640b4332c0be6:7594d0570b8dc0f7e6765de3e469fe6ffbec02543f58a0cb73369a6171db1055&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 106.80438062447892}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Down 7.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.13%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2ba0df91575bb65c3807b55509e3b88765aaa516026db956418806fbb29e99d9:fb92d30c25c9dc1b3af8e6b6b20efcce131d07cd61be54c589f84ac3134d6b2b&#x27;, &#x27;aib_bronze.equity_ohlcv:63b34c9598cb0f2fe8c67f95a8e538f4eea21411ddce7d6e2fbe8f97ab80c153:58a0ff49ecdf1b3ea61a4642b3f605524f971adf131197da1874a4141b5630e4&#x27;, &#x27;aib_bronze.equity_ohlcv:996bd6cd6fbdecc85214526a16bafadffaca61715e47817a014cc33795fa8fe7:6b5746fc326b3bad043ad441121237dc679c172bcc653c5f493615ea8b003c6d&#x27;, &#x27;aib_bronze.equity_ohlcv:b269828f6246eb9ca2abc1d457ac1e0b3c415103506470bdba542a07009dabf5:430f0f177412575c2581421c64fdab1b106d343f7470a671c176af0deb5c4906&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:7825ede811dc3470dcac777ccefd4701a72e583e60191dbb7f79cd6f9583f48f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 85.36206014362793}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Front VIX at 0.88× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.882.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 171, &#x27;epoch_values_hash&#x27;: &#x27;cce413763f7673b03fd5e8da52cf1842f0b01b74b7ec6864de322e3204d60b6e&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;55f0098dce4ae30fbe918cd23fb46375e8b10cc59aebba3f2e822306b616cdca&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 548, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;850234648e85277a026a82642dc4da9cb36ab7089480fbe489f4a7014e0e1118&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 170, &#x27;epoch_values_hash&#x27;: &#x27;618b8ea5d256f8ec4767b670d4087ab4bcc35a9527482e69a6378396c1f5c142&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-28&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;7174b6c5874f239b97392de02010c77de5fa44d4feace9d08c2f569b2de781a8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-29&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 540, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;3bd9a1bb422ccd9c55f058c17b8daa30f84beb2da85cafd9eefb3502196e549a&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-28&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-09-29 07:12:02.802000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0e3b60b982f37f1cba16e03fdb7ef2963874d4e03bf6e19f52f612b806e75ed2:6002954dc1f9a3b2c59941281d09514523e51dd8c5f3b16dc5c85092de0166be&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a292da35a54baf0431da371e7c5f5551f90720d177191fa70da373128f8b48c8:8299bb796580fe3737bd6ffc08e3cfe0f081bf62cd12ffd9e3fe2c30a758e2f3&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:26ac1251f59b56a51bd36a9f16721290f49d00425a98f8fbef6958920f63376c:8ce493e0979bc289ec91f7c6e12fc7e6b1caa5884843df4b99f786ff942145d9&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-28&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bc58ca66ac6acce6e5eac1eea7550e5bc10563c6d721b1ca2d0f9d881e2398b4:ba9651c1a18f9e6f2ca6b4bb4d6459be883fbcc3c0629d53927b425b169ab92b&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0e3b60b982f37f1cba16e03fdb7ef2963874d4e03bf6e19f52f612b806e75ed2:6002954dc1f9a3b2c59941281d09514523e51dd8c5f3b16dc5c85092de0166be&#x27;, &#x27;aib_bronze.equity_ohlcv:26ac1251f59b56a51bd36a9f16721290f49d00425a98f8fbef6958920f63376c:8ce493e0979bc289ec91f7c6e12fc7e6b1caa5884843df4b99f786ff942145d9&#x27;, &#x27;aib_bronze.equity_ohlcv:a292da35a54baf0431da371e7c5f5551f90720d177191fa70da373128f8b48c8:8299bb796580fe3737bd6ffc08e3cfe0f081bf62cd12ffd9e3fe2c30a758e2f3&#x27;, &#x27;aib_bronze.equity_ohlcv:bc58ca66ac6acce6e5eac1eea7550e5bc10563c6d721b1ca2d0f9d881e2398b4:ba9651c1a18f9e6f2ca6b4bb4d6459be883fbcc3c0629d53927b425b169ab92b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8815139879319802}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-28 / 2026-09-29 07:12:01+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.7086205118167932, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 0.7086205118167932, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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&#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:d79f1ee4993a7d9dc7660f9c446e6bc3c703486aa4aa3d8fe26efba80e93cf2a&#x27;, &#x27;aib_bronze.equity_ohlcv:4fabcb2beb4595675db3f524cb1550e1a0aeb2116b73f8506d315f0ca5812482:5fa52c10698cb747383b9fa777de286a0ccaa34eb5978750c5de338becce7dfe&#x27;, &#x27;aib_bronze.equity_ohlcv:8b80af60ef71e7e08c698256183e33d4d524cfdad709a1329a461d67d13a422e:31d9a08bbeb8821a4271aa6533be6a6d1ab6e1294474744302986f5581e2578e&#x27;, &#x27;aib_bronze.equity_ohlcv:8e92112f3388dc0f69792355a50bdee58b5ae6abc15efd16f6f1f2706844ee64:1230ae5a01ed147ed0af0cf4d7f229746ece254daad1b3ca9ed42860c3518e28&#x27;, &#x27;aib_bronze.equity_ohlcv:9515b71383e75597af80c78b8cf846a8b1fe3480b0fb9477712a7a2bf9397ffc:bdae1e2d8b133fd310588f80969be96077e5d4b391bc600c6fa09813bf329fa3&#x27;, &#x27;aib_bronze.equity_ohlcv:a9ebb252e05971049b6c978884c0d7be287911a02888c50b99368166b0cd44a0:c9d3ebcb19fde86038920cc3ea40293c45c3584b75199e3b794ded8073379dcd&#x27;, &#x27;aib_bronze.equity_ohlcv:c6ba893c9781020ecf6f05613ca5ce545fb8a82b8aafe3a5ce317db659b6c2d9:68c03bea96f8ac5b8cd7e3870e45909bc2d5f439e32f0f6ddaa34138251a62bc&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:9f87d3ec5dc83c6b0c5b672bffdba2f22f20b8a9321d08dc1595c187dae6b622&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.8170446675332}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-27 / 2026-09-27 22:36:56+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,000B (conditional on an IPO), -4.50% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $2,177.; Probability-weighted bucket midpoint: $1,000B.; Seven-day implied-cap change: -4.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.496124031007753, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0375, &#x27;full_set_prob_sum&#x27;: 1.0010000000000001, &#x27;implied_cap_change_7d_pct&#x27;: -4.496124031007753, &#x27;implied_cap_usd_b&#x27;: 1000.0, &#x27;ipo_by_2026_prob&#x27;: 0.0465, &#x27;no_ipo_by_2026_prob&#x27;: 0.9635, &#x27;volume_24h_total&#x27;: 2177.2000000000003}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-28</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-28</td><td class=\"num\">139,199</td><td class=\"num\">24</td><td>—</td><td class=\"num\">26.02</td></tr>\n<tr><td>CISO</td><td>2026-09-28</td><td class=\"num\">684,578</td><td class=\"num\">24</td><td>—</td><td class=\"num\">6.249</td></tr>\n<tr><td>ERCO</td><td>2026-09-28</td><td class=\"num\">1,624,827</td><td class=\"num\">24</td><td>—</td><td class=\"num\">19.94</td></tr>\n<tr><td>PJM</td><td>2026-09-28</td><td class=\"num\">2,062,884</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-9.016</td></tr>\n<tr><td>SOCO</td><td>2026-09-28</td><td class=\"num\">606,178</td><td class=\"num\">24</td><td>—</td><td class=\"num\">-8.84</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">42.09</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">37.81</td><td class=\"num\">0</td><td class=\"num\">-4.283</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">36.48</td><td class=\"num\">0</td><td class=\"num\">-5.61</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.69</li>\n<li>as of: 2026-09-28</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.05333</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>272 benchmarked model identities; 211 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Opus 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">57.6</td><td>$4 / $20</td><td>≥ 1,375,412,995,018</td></tr>\n<tr><td>Claude Sonnet 5.5 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">56.0</td><td>$2 / $10</td><td>Unreported</td></tr>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,857,779,524,217</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 221,221,793,883</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 3,754,394,931,894</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">5,308,658,090,390</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 115,095,947,258</td></tr>\n<tr><td>GPT-6 Sol (max)</td><td class=\"num\">47.5</td><td>$2 / $10</td><td>≥ 991,613,188,497</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 100 eligible configurations.</p>\n<p>Usage window: 2026-08-30 → 2026-09-28. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-09-29 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;4864d04498431ebeb99b34a0224a313c0f6ef98c8c8f7d6b94b75203100309d9&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;cacd4b41680587222d65c905a350a313bcfaba6571117e304e0ad6638bb717a8&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;f3fbafb1a92dede04b2c79eddb00693fd95fdc919596880bc60f77230e6d9472&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-29 05:53:14&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-29 05:53:15&quot;, &quot;record_count&quot;: 1576, &quot;records_hash&quot;: &quot;b413cd02ca2f6557336b0ad2f7dcc8e2f1d6440c68e8c2ee47a4d3b86c351ddd&quot;, &quot;snapshot_id&quot;: &quot;be3b4a7e0080dabdda3aedc3d9f5b738e8bb8111db01f5901526f61defbb8b7a&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;f947448ffd07626733892233e97a0bfd7f6606be05e4224de49fdae27f3a29b6&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;e792cdf93cf056b6a2c7ff03cddd0345fb8fd94cd9b49d1764f547bed46bce7d&quot;, &quot;872e33ad3f9dd332498ad0fd4e0641fe682a1e1815125e25a80408801ec36dfb&quot;, &quot;dcd01b99e4a15b42d494a9569de347e94c358207f4f16b93b8cddae4128147ee&quot;, &quot;3ae3955ede5fb49296f00f90330d880e9d78d7eb5406b7c6f3d07f94732c98f1&quot;, &quot;fde2ae21561c9b6dde49b67ec0e7d823f07c0c3f6a14e1f17f9e5e99e29a8c39&quot;, &quot;158467bafe35d9386321dd28ceaee8b1579491f1c0ff1335587205e1e7e12b35&quot;, &quot;95fbe9a41fef289712dc45f8f4ea53da7d016e2b763813e8d79e784ede0574ac&quot;, &quot;bc0ae9f6f4b93b7969a0b3c21b3470355a43b7c436e09eb699be91c6ff452505&quot;, &quot;86fe3a16d60c5f4c449429a9829ebaa8f40da729590225d2c0a9bf12d318ac7f&quot;, &quot;1f165215a8a5b7f655b2d60e29ad4c820f040494e6a1658683fad15242de9ada&quot;, &quot;5bcd28526223cc5f2b1da8e19a84d2b15d4dc22e8365d5da395e44e042f7a9c3&quot;, &quot;cd1d7c11622b96b4c156de6fc03d21905ef55f0fe84c3dd88945b7775e86adc7&quot;, &quot;7232922758f430a77a738d390e3cad847b957ece9ada4d08a87c58bafe202843&quot;, &quot;7cc3b4dc128301665f2bbc4ca6a32a8e57a7cd9031e102d9bf9cd400460336b5&quot;, &quot;7f37687cbcda1bf2f599aab194d1ee4e1a96f9f354ea5c1f7d58d04d5a2ec164&quot;, &quot;0a93279e043d3dea76413aa7724242538c6d844f015d122f453282e06722c15a&quot;, &quot;b1db035fa4a3977de64fad9076998bfa4e83432d164c14d64fd1c5def0e7df96&quot;, &quot;094030adc602033815efb19bcc1359e6d703e2966b50f6ea614f8f6e72c16a6e&quot;, &quot;0e29e1ca8a8586298301ff2909981b3fc3767b53ec1bc66884ce8743d8bf1712&quot;, &quot;9c303120ec581838312ddeb676f2228e34f91fe5f303764606f82a9f77dcdfbe&quot;, &quot;19090473c991186c986f97eb97fab4646a07039ee78e939b5e64191724c46699&quot;, &quot;95caeee9cb2393358c7c091545123dd9be57df56bba3dd19ad1ad092f30e8236&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-09-29 05:53:23&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-29 05:53:25&quot;, &quot;record_count&quot;: 766, &quot;records_hash&quot;: &quot;978df31f13ad67c7f0a0ab42a5e224d17e469a2197b56a00c8605bc4787a8578&quot;, &quot;snapshot_id&quot;: &quot;8cb9d15ff024266ae8a71b6950868b6b8103da4fb9b7ff66448a3d5fe3940c23&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;8c76641e44c1c92c4a3e6375e455cd9cda209bc043da01c09bf42b711910f435&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;e7e837ca8cec3fd318c3d119c3ed44a341c078f8cb392bd3a1afc677be029fc0&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-29 05:53:15&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-29 05:53:16&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;3db1c5cc61f1113355d413ee3ddfe024eee8581f30f49389e7738e04a49321e5&quot;, &quot;snapshot_id&quot;: &quot;20e25b9fb3346ad7a4feffd533d8da71314ee8cf8668e0df8f69118c385a008e&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;a0e2432a01962d2851b7e4609afd7d96cc352bbd9703d11cf531ace57e2cec3f&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;5289577ca041628fc2109c46d71a424ce4afc4289ba3604e709e6b6cfef3baeb&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-09-29 05:53:14&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-29 05:53:14&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;de470ffd73b62f9dff05a419257ba46009a1f56e54847162c88b127f3ca56383&quot;, &quot;snapshot_id&quot;: &quot;1ed48c2bb92432b2f5b84eb1765812ba2e2f82d13e72ea103ad25d774a6ae723&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 23:02:26</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 22:20:04</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 22:30:05</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">7</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:15</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-09-29 23:12:34</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-29 22:58:21</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 07:12:20</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">638</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">136829</td><td>2026-09-29 07:08:11</td><td>—</td><td>partial: MHVYF.US: Price snapshot omits 1 previously retained dates; N225.INDX: Price snapshot omits 1 previously retained dates; USDJPY.FOREX: Price snapshot omits 211 previously retained dates; KXIA</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">222</td><td>2026-09-29 18:10:24</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 23:09:13</td><td>—</td><td>RuntimeError</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">460</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">600</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1576</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">766</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>ConnectionError</td></tr>\n<tr><td>report</td><td>error</td><td class=\"num\">0</td><td>2026-09-29 22:10:08</td><td>—</td><td>ClaimPolicyError</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-09-29 05:53:11</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: catalyst_markets, engine, iso_lmp, policy_events, report</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-30T01:58:56Z",
      "id": "urn:prexel:issue:f50d1eb3-1c09-5a8a-9285-ba0e8c41d17a",
      "summary": "Prexel daily — period ending 2026-09-29. 51 charts: 32 with a read, 19 unavailable. Counts are coverage, not a score. Every label names one subject, one horizon, and what would change it.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 30 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-29-daily-d3a7449db075.html"
    },
    {
      "_prexel": {
        "content_hash": "a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50",
        "context_hash": "43ec5dc13311bbd870c1a273641abc5624df5da53f2826a658c81f66f0309b37",
        "kind": "daily",
        "period_end": "2026-09-20"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>1 distinct notices · 1 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>a843e40aec72868e7f9130e255a4bb12a8e9180f4fd8db64d9f6fa7dd70e4e50</code> · effective 2026-09-22 05:57:30.836000 · correction <code>050ce1efd2f016fb30189bad8dc0f090198f3284e7132b3a8a6aac526d64b97f</code> · hash <code>3f9c85e7755fbd01c99af85b47ebc63a33fde92416c127e804fe4f47ac477402</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 29 (daily)</h1>\n<p>Period: 2026-09-20 → 2026-09-20</p>\n<p>Context hash: <code>43ec5dc13311bbd870c1a273641abc5624df5da53f2826a658c81f66f0309b37</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>60 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>b1b04dfc076882e4f6c11be04ba8e2ccc57afafc613f70d855c7c84582f0af98</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e980a045eb1ad2f6d9afd8a6cd39338d6372664b230bd9c8a3b126bb503fa1db</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>market_series_daily/pre-2026-09-20-adjustment-refresh</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6eeb1c527316bf5fb8490cc25d9a5c326617bab4935dd8b2ed9e2ba8359d599c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>0ece81ac9a102bc359c17542ebd9d06b78fbebc8f0c94da16598d46c54ec350d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>73a74217026d08afad27e9dfba47a82f531e65e4f89a1269cdd4ecae3393d7a1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-20 13:53:45: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Correction hash: <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-20 13:53:45: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Correction hash: <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ◆ Mixed — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>B200 vs H100 rental price: ◆ Mixed — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>GPU marketplace depth: ▲ Bullish — GPU rental lessor pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Inference demand — OpenRouter: ⊘ No read — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — excess PJM load growth attributable to data-centre buildout (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion-zone electricity demand as the ground-truth NoVA data-centre load read (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>PJM electricity demand: ▼ Bearish — PJM electricity demand (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — near-term PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-09-20T04:42:33.249290+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence revised; cause unclassified. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Source correction. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ◆ Mixed — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>GPU marketplace depth: ▲ Bullish — GPU rental lessor pricing power (Near term); Evidence revised; cause unclassified. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Effective inference price: ⊘ No read — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion-zone electricity demand as the ground-truth NoVA data-centre load read (Near term); Evidence revised; cause unclassified. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-09-20T10:42:20.017719+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▲ Bullish — semiconductor equity leadership relative to the broad US market (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Source correction; Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>AI-complex correlation regime: ⊘ No read — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Source correction; Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▲ Bullish — mega-cap concentration in US equities (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ◆ Mixed — public-market pricing of the neocloud cohort relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>B200 vs H100 rental price: ◆ Mixed — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>GPU marketplace depth: ▲ Bullish — GPU rental lessor pricing power (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>H100 spot rental price: ◆ Mixed — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Inference demand — OpenRouter: ⊘ No read — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Inference price cuts (like-for-like): ▼ Bearish — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Effective inference price: ⊘ No read — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>PJM load-growth difference: ▲ Bullish — PJM load-growth difference versus CISO/ERCO (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Dominion total electricity demand: ▲ Bullish — Dominion total electricity demand (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>PJM electricity demand: ▼ Bearish — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — near-term PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Source correction; Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-09-20T13:53:11.457066+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-09-20T14:05:30.099646+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 51 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 31 usable / 20 no read — 14 bullish, 9 bearish, 8 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-20 04:42:32+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-19 18:49:18+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is inside its registered 14-day band.</li>\n<li>evidence: b200_h100_ratio=2.365914722279579; b200_h100_ratio_change_14d_pct=-0.018944888709648455; b200_offered_usd_hr=6.79; band_measured_pct=-1.8944888709648455; band_pct=5.0; h100_spot_usd_hr=2.869925925925926</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.365914722279579, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.018944888709648455, &#x27;b200_offered_usd_hr&#x27;: 6.79, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.8944888709648455, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: -1.8944888709648455, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.869925925925926}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-19 18:49:18+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-19 18:49:18+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.5023148148148148; h100_depth_smoothed_3d=26.875; h100_dispersion_smoothed_3d=1.7370117749986165; h100_price_change_14d_pct=0.004867131402871812</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.5023148148148148, &#x27;h100_depth_smoothed_3d&#x27;: 26.875, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.7370117749986165, &#x27;h100_price_change_14d_pct&#x27;: 0.004867131402871812}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ◆ Mixed</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-19 18:49:18+00:00</li>\n<li>interpretation: H100 spot rental prices are range-bound.</li>\n<li>evidence: band_measured_pct=7.644652982297442; band_pct=8.0; h100_spot_usd_hr=2.869925925925926; spot_trend_30d_pct=0.07644652982297442</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 7.644652982297442, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 7.644652982297442, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.869925925925926, &#x27;spot_trend_30d_pct&#x27;: 0.07644652982297442}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ⊘ No read</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: fewer than seven snapshots so far</li>\n<li>data quality: a panel, not a census; public apps only; rolling 30-day window</li>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-20 14:02:26+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +1.20pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.5%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 1.1952005654584639, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.50757806796945, &#x27;top10_share_change_14d_pp&#x27;: 1.1952005654584639}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ▼ Bearish</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-20 14:02:26+00:00</li>\n<li>interpretation: Catalog prices on the fixed model basket are falling through their band — true price cuts, mix shift excluded, are eroding per-token seller economics.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 15 cuts, 4 raises.; Fixed-basket price at prior-day token weights: $0.705/Mtok.; Seven-day like-for-like change: -7.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.160815580372448, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 331, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7053987945998674, &#x27;like_for_like_change_7d_pct&#x27;: -7.160815580372448, &#x27;price_cut_model_count&#x27;: 15, &#x27;price_raise_model_count&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: The token-weighted effective price is $0.710/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-19 09:04:40+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.8 listings/month.; Relative change: +88.4%.; Trailing three complete months: 106 new listings (35.3/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 88.44444444444446, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.75, &#x27;listing_rate_change_pct&#x27;: 88.44444444444446, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 106, &#x27;trailing_3mo_rate&#x27;: 35.333333333333336}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-20 14:02:26+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +15.73pp.; Open-weights share of routed standard tokens: 69.7%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 15.729363947568395, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: 2.0270949776072484, &#x27;chinese_lab_token_share&#x27;: 68.28684640318873, &#x27;matched_model_count&#x27;: 329, &#x27;openweights_share_change_14d_pp&#x27;: 15.729363947568395, &#x27;openweights_token_share&#x27;: 69.71907344684078}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-20 14:03:04+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $42.50/MWh vs prior 14-day $52.01/MWh (-18.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -18.30077878828411, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 42.49569491888422, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 52.01481028657617, &#x27;caiso_da_trend_pct&#x27;: -18.30077878828411}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-20 14:03:04+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.47 MMBtu/MWh vs prior 14-day 18.14 (-20.2%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -20.22806656123676, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.473671752053425, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 18.14381465777573, &#x27;caiso_heat_rate_trend_pct&#x27;: -20.22806656123676, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>PJM load-growth difference — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM load-growth difference versus CISO/ERCO</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-20 14:03:04+00:00</li>\n<li>interpretation: PJM total load growth exceeds the CISO/ERCO regional mean by more than the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +8.76% vs control mean +6.04% (gap +2.72pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: regional comparison; causes of the difference are not identified; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 2.716221082421024, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -2.167985707590071, &#x27;dc_load_premium_pp&#x27;: 2.716221082421024, &#x27;erco_load_yoy_7d_pct&#x27;: 14.249887430613017, &#x27;pjm_load_yoy_7d_pct&#x27;: 8.757171943932496}</li>\n</ul>\n</ul>\n<h3>Dominion total electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion total electricity demand</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-20 14:03:04+00:00</li>\n<li>interpretation: Dominion total electricity demand is growing versus the same week last year, above the registered band.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +20.40% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 20.399781325368956, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 94873.0, &#x27;nova_load_yoy_7d_pct&#x27;: 20.399781325368956, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Down 10.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -10.53%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.525561618450851, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -10.525561618450851, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;BWXT.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;d5aa86c10e76571e35725d243fbfcc671aea12b065d364fe2aff26a92738e7fb&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, 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baseline.</li>\n<li>evidence: PJM load anomaly z=-1.582</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: total regional demand; data-centre consumption is not isolated; source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;z&#x27;, &#x27;value&#x27;: -1.581932588086723, &#x27;window&#x27;: &#x27;weekday_baseline&#x27;}, &#x27;dc_load_anomaly_z&#x27;: -1.581932588086723, &#x27;dc_load_growth_yoy&#x27;: 3.767499776914223}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Down 4.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.46%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 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14:04:23+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.06226910982547462, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.06226910982547462, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;APLD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;a1bcd5d339da2699c54f279595000a43f092ea0edd98a49496eb64fb374a7be2&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a13599e11e078f0b0687805c165bd5ab643269ddd496689490fdd35f9e512d14&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e9958da8acdc97f67d9a26e1bc53b797415ba381eb44003a3b78a125f3f62ab3&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, &#x27;CRWV.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;56e64a350fa5955d7f0409cd06d9d6b87fadecdbdaab8cfb8d178ed44df912ef&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2025-03-28&#x27;, &#x27;history_values_hash&#x27;: &#x27;ad774c0ec11864ea9987ee2fc9c527c907352ef702fb7de3da928d81a3f6c8fd&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-09-20&#x27;, &#x27;row_count&#x27;: 371, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;e40d293c3f04979d587babef149716b5043587e7ac928471a60e6999f0c847ad&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, &#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;22e5be01fe0aed4c4015aa173bed75540b9d10c4b2a411af094d95ec54f033fc&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;425328c361b295eb8ca7bc23892386e2629ceab253865dd25b1f7ba740b21110&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;eacf0b8b06ed9d7b7d20b550d0dab7f9d9b42ede656198f6b1971b387d38aad1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;IREN.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;8f3585fdc6523546ad2ecb7fdf924b8ad5d8d86b59932a8a6b84f3c606547bda&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;092d08d140891237cf95725427d683534eb5aed956d86409bd95f2dbc50bc45f&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;43ac257ff1a3efb454a3cba0e9a7accf207b91c76f52db201a143e4d9f342e2c&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, &#x27;NBIS.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;f6158c522fe13175f72e6458dd26ddfc1ac2979c6dd3f5e119f74f65431acc5f&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-10-21&#x27;, &#x27;history_values_hash&#x27;: &#x27;3ead86292b6a42bd72bcf72dc513055ee20d8456ac2b94638a548447dc6bd78b&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-09-20&#x27;, &#x27;row_count&#x27;: 479, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;77b6d96eac01b3d03a90dd44d9fbe8e2ecc011ab137eb09e6fad72e820c3da60&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-19&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-20 12:44:03.744000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9c136356164ab9a6d09567e0456803fbaa4c40e58aa7cc68e02111c09a801a4a:a73cb477fd7d2a21f5676b79400211c031eb949db5f78e2d2e2df1627fee27af&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8899f13d8561bad2499fac1dfa5cc876e8e6d8bbf876c67961351ea91af6d36b:0fde98ddec86cff46ce0501147bc0d068251ef869450440f602bf681fdfc9927&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:67dedfcabcffbbce09ce028e57784fa2647d289be76571a9bead03e8bd642902:499ea9ccbaf441c7aed21a5e645030a1c414047a24b00fb6b32da61d101f0126&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0d8f3d8f63550d1a96bf6b951f324d973854f171ba1ea5be5c8816673fc25b00:6098f936e2af9e717a6454cd0a1dca57d2b148f3adf58ce9fe3effad1e997108&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0c900285ce158831647ee011c8e58878c5bd86120fa13a7500e03636bac65022:900dd53076d588b5c7dce214b89b4ab5caa9ba30d03ebec5b14bdf53f1dc5657&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0445e436a6f82082a51cab7353e1da4bfb1babffb1a553f452a272d104bd67c6:67dac64b3633a56cf4daafcba4b96de74294ce2391de34ef70abccc2b6677a41&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:04d7a0e2bf120bd533c3151a7a9a280f36f47aaea5a776aba8a571058610da95&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:989e968423dc9039a50359cc0c9eab6779c28bb4f4cf9cef6bbd369f614bc87d:f819961bb68c4011de4bf4cf792933daaf482f63535d29fd3720ebc6b140042d&#x27;, &#x27;aib_bronze.equity_ohlcv:9c136356164ab9a6d09567e0456803fbaa4c40e58aa7cc68e02111c09a801a4a:a73cb477fd7d2a21f5676b79400211c031eb949db5f78e2d2e2df1627fee27af&#x27;, &#x27;aib_bronze.equity_ohlcv:b10c446350d22e4c98a0c9ff03b484f2c4651fab3abcede851488aee9d17c2db:9dc435d20dc05f6778523539912897ddccec9b657603cbecce62d6763ea5b1bf&#x27;, &#x27;aib_bronze.equity_ohlcv:fd8c798b7c9ce70dcaa5b2adfaf494943ec5de59d2d7e1ee1d9eff9b93afe30e:0e62dedad376ac92b5d8fd037cac42af433cc9b2d5a7d50edb54eccb7c9a92dd&#x27;, &#x27;aib_bronze.equity_ohlcv:ff2541b73e19f1a442182753944aed17db8bc95ed9a0b6a33910f7819832f218:8078abe2f8e059de09b3a41ae8785783085767b2f2f47f56437d77871902305b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 117.12960477352784}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Down 4.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.9977428598399367, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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2.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.33%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.3259818260969567, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 2.3259818260969567, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: 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&#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 133.64463731364313}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Down 0.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:bfa5f0bd637f15c515d317f7b8b851d6dba454e7cba2dee9b10efa43ff120270&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:005644936c56cdb7e167373646753afa97b991d422e57a32197684f251078a04&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:05ba70947d8c60bec36a3ffba9939c872fe2508452d271276f1f5f03742453b4:404559fa8c0baaf3b8e91bb1f808cb7533c56becd87a26bbe158dbd65679c0c4&#x27;, &#x27;aib_bronze.equity_ohlcv:16146b79ea492b0da2bc34442783ac4599e178f0438baa2d80c1aa0f84d12689:9a99eb8864181eea379c631ebfb5448b6b526a40133dbbcb8f604afc945eb47d&#x27;, &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:005644936c56cdb7e167373646753afa97b991d422e57a32197684f251078a04&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:bfa5f0bd637f15c515d317f7b8b851d6dba454e7cba2dee9b10efa43ff120270&#x27;, &#x27;aib_bronze.equity_ohlcv:614b0877f290711c24cf9290527fdcb13d2245508440734aad72a8b85dd3e2d8:54cd1459f2d0fd88c234ff4ba6e28d467194572ab5b9af2ad1ac6081fe3c2430&#x27;, &#x27;aib_bronze.equity_ohlcv:94de2a855abc370e9ba0ee2eb69cdd291566314aeef3f8f431319fd6eff0e0a6:77a6dd67910878c9b2cf874a9eb76084cbed81f84a28bf7e3f523c0f83ed9c93&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 99.55126819377479}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ⊘ No read</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-18</li>\n<li>why no read: Price history failed its adjustment-vintage completeness check. The prior read is withheld.</li>\n<li>reasons: price history failed its adjustment-vintage check; prior read withheld</li>\n<li>data quality: price history failed its adjustment-vintage check</li>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Up 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.41%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.4076518495938819, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.4076518495938819, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;HYG.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;ee7c148f9c407fdde9f5db8f21baf20ecde028ddd20ca0312c9c0f1068949e66&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;cbdebbc5c4801a64d81ef6e9b36d99e4e0e0fcc943d69542cbe114063a894ae8&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;957fafa89372347478dd01b384a710512103ebdc456504f04132a7893f1b24fc&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, &#x27;LQD.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;02816420fcdccb918d3f77cd546768ae597d26c72920deeb63c8dc6181d7bb55&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;f57353db037caae7a585b94b1f77c395b47d6e64f6214d64634252602e45515c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;690f342f4aff34b8281da4bc653731508650ee8e1ba1b5406b20024676933eb6&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-19&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;HYG.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-20 12:44:03.744000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:06542997a3121b9fa7fd9348a0cfb7e0e1b75db1dbf6d2b2ad79406f2afb708a:5350f994bdcce5baf7e2d04bdaa19dd7c6b45797ababb7d4bec80b3d98bd356b&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cfa71878f642c2e38ada530bc7abddae30e138964ace94001d58da498ba6c9f3:54174e2ab96a0ab8a028261a33f9c9b6ac64ecd8f9082d4d93dd504525d40cfc&#x27;, 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&#x27;aib_bronze.equity_ohlcv:909229fd513924502d6733b342707713e767568032be9f016831dda9c39ba949:308d542a22e22371ad4dfc11d931b231b3dcb2d7cfabf7ff3a8d7407959f2bf5&#x27;, &#x27;aib_bronze.equity_ohlcv:cfa71878f642c2e38ada530bc7abddae30e138964ace94001d58da498ba6c9f3:54174e2ab96a0ab8a028261a33f9c9b6ac64ecd8f9082d4d93dd504525d40cfc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 102.99920215474071}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Down 3.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.685791715158371, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -3.685791715158371, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;22e5be01fe0aed4c4015aa173bed75540b9d10c4b2a411af094d95ec54f033fc&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;425328c361b295eb8ca7bc23892386e2629ceab253865dd25b1f7ba740b21110&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;eacf0b8b06ed9d7b7d20b550d0dab7f9d9b42ede656198f6b1971b387d38aad1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;RSP.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;9344454a30b471bf785d6be6360ad919dba166f4fb92d300f5ad8ffc1aa96c25&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;496fcc467f69686e2258c909cd3d92b7a270840134fcdcb3f80cc23d415d2bbd&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;ecdf8b44c8d5cf21b4ef205fede21bea55501128479fccf3d1c80fe5495d92b9&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-19&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-19 07:49:21.924000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:67dedfcabcffbbce09ce028e57784fa2647d289be76571a9bead03e8bd642902:499ea9ccbaf441c7aed21a5e645030a1c414047a24b00fb6b32da61d101f0126&#x27;, &#x27;symbol&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:ac5a2375b3ac1f2d27778cb73903addba59f958dbd17490a5a3121a158deea19&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:18869e3eeebc4ae11f05c579f52fcb54b38b211dfbc66c55f1a623ade2874b27&#x27;, &#x27;aib_bronze.equity_ohlcv:1ba0e72246cdbcf348f798df59b4c0a71a20598bc838eb9dc02b841146eb3a6f:34853358e937a5ccaea8b0450f98db190d7b11405751aff1c436bb9a5c44fbed&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:ac5a2375b3ac1f2d27778cb73903addba59f958dbd17490a5a3121a158deea19&#x27;, &#x27;aib_bronze.equity_ohlcv:67dedfcabcffbbce09ce028e57784fa2647d289be76571a9bead03e8bd642902:499ea9ccbaf441c7aed21a5e645030a1c414047a24b00fb6b32da61d101f0126&#x27;, &#x27;aib_bronze.equity_ohlcv:fa32dfe7d5a8ad9c5bfa21b9b026a3427a5b8b6e9f9897a5e219577fbb90e456:3cf8286911d1e0ee0b38c46e0e774ae9dae11c474617f0d5c8fbf0d416d75b94&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 98.02553936393313}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Up 1.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.4982349144237128, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 1.4982349144237128, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;GSPC.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;22e5be01fe0aed4c4015aa173bed75540b9d10c4b2a411af094d95ec54f033fc&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;425328c361b295eb8ca7bc23892386e2629ceab253865dd25b1f7ba740b21110&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;eacf0b8b06ed9d7b7d20b550d0dab7f9d9b42ede656198f6b1971b387d38aad1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, &#x27;NDX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;717a2e76a7cc3415fa1dbd8b5d9018d0889acae78d089ec9ca2cf94631950074&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a5f949a3620067222bb4b2791386e01d6401860cc2d4f7b407a4fde697b438ac&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;2d16fd42fd1879307507cd272041704444781ad477a3dcfbe7790f20a254e699&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-19&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-19 07:49:21.924000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:67dedfcabcffbbce09ce028e57784fa2647d289be76571a9bead03e8bd642902:499ea9ccbaf441c7aed21a5e645030a1c414047a24b00fb6b32da61d101f0126&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3663f6f8fcd1adb7dc2b53c04ab7740c6ab02f3ed9a9775bf0667a19aa29e826:2d423ecc8bdbb7ecaa41be796ff0a03b8701fb266d9f0e2a79943cc288f02f4c&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:18869e3eeebc4ae11f05c579f52fcb54b38b211dfbc66c55f1a623ade2874b27&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3f8e464fc2ea511aff3f2211532972247419d85652a5ffeb05a89d36d759efdf:9e022a21ac15d64473108e7aca2b452db05c88d41f897fe5a672ff16933ae16d&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:10fc5b985b3a9e200d481e5c8a279aab89f23cbd1b532ac8e391679e8928cbde:18869e3eeebc4ae11f05c579f52fcb54b38b211dfbc66c55f1a623ade2874b27&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3663f6f8fcd1adb7dc2b53c04ab7740c6ab02f3ed9a9775bf0667a19aa29e826:2d423ecc8bdbb7ecaa41be796ff0a03b8701fb266d9f0e2a79943cc288f02f4c&#x27;, &#x27;aib_bronze.equity_ohlcv:3f8e464fc2ea511aff3f2211532972247419d85652a5ffeb05a89d36d759efdf:9e022a21ac15d64473108e7aca2b452db05c88d41f897fe5a672ff16933ae16d&#x27;, &#x27;aib_bronze.equity_ohlcv:67dedfcabcffbbce09ce028e57784fa2647d289be76571a9bead03e8bd642902:499ea9ccbaf441c7aed21a5e645030a1c414047a24b00fb6b32da61d101f0126&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 105.02634506426207}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Down 5.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.93%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: 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&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:45cadf8b5c21d2283a8fcc3d1c0917bdf97fc5c3a93f7f48cba3703f5bed92c2:545710f505ae4899712287be1472f86de97d33e81ad2738a25c41e5184cf292a&#x27;, &#x27;aib_bronze.equity_ohlcv:67dedfcabcffbbce09ce028e57784fa2647d289be76571a9bead03e8bd642902:499ea9ccbaf441c7aed21a5e645030a1c414047a24b00fb6b32da61d101f0126&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:94b9a95003bfe2359b13fdbb6fb104e708584a7c7e4bce0a0e03d754a90a7103&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 89.11793697654619}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Front VIX at 0.81× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.812.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;VIX.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 165, &#x27;epoch_values_hash&#x27;: &#x27;acd5c05f68b7925c5075e41ef87010af27e43473fa1234d86c6078a7170474a4&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;26c12ddbf25b580652077de20ef4a76f2baf67f0ba5d8b28b7e2c52ab5f92406&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 542, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d5e3d5e9f39e5e3db3d3a80219cd4db4706c66f0fd7e79809e8866b11e158363&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, &#x27;VIX3M.INDX&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 164, &#x27;epoch_values_hash&#x27;: &#x27;b32b58f15be8686360c334a00ac3acb66d44cb6900cc6cc148a6824f81764b28&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;67755ace39bf1e9d5410859ea0c4f60ca613eb52cfa46740bf9cd50cef8ee71a&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 534, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;479977c7705b5fa9650972dbdd5bc7bcee58e3b49cd94c05384c2f71589aae27&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}}, &#x27;comparison_date&#x27;: &#x27;2026-08-19&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_and_adjustment_batches_v3&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-09-19 07:49:21.924000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:973d886a5aee848f8d6c0b993dc7215d0165b750d06b69652668ba3ee1613b74:0a9418398b0a1d4d0ac097867b359e669b79023433f5aa37a210469812931a36&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-19&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:826be851dd555917a8907fcfb10f0502c506eef52669971384de315064f2e601:5517f837acc86622c1abbb98c4b4883442d0c93066c361ef55ffae9a9e273e8e&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:ed9ec82d6f9d843b2b122096ecc1fd004d71508e21dccd953e72dc28a0e4114d:53a8ab02a295c585a1710dd53e58da9844b6f5e3319c635a7f20a36d234bd9ee&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1fc3bbc90c0e9573e634042642feaeac2bc75ed313549b6782b63e165415eb77:2533305614ddcaae428e6d96ee4121ae984f15c64c2c66eebeaa61f66e98e986&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:1fc3bbc90c0e9573e634042642feaeac2bc75ed313549b6782b63e165415eb77:2533305614ddcaae428e6d96ee4121ae984f15c64c2c66eebeaa61f66e98e986&#x27;, &#x27;aib_bronze.equity_ohlcv:826be851dd555917a8907fcfb10f0502c506eef52669971384de315064f2e601:5517f837acc86622c1abbb98c4b4883442d0c93066c361ef55ffae9a9e273e8e&#x27;, &#x27;aib_bronze.equity_ohlcv:973d886a5aee848f8d6c0b993dc7215d0165b750d06b69652668ba3ee1613b74:0a9418398b0a1d4d0ac097867b359e669b79023433f5aa37a210469812931a36&#x27;, &#x27;aib_bronze.equity_ohlcv:ed9ec82d6f9d843b2b122096ecc1fd004d71508e21dccd953e72dc28a0e4114d:53a8ab02a295c585a1710dd53e58da9844b6f5e3319c635a7f20a36d234bd9ee&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;vix_vix3m&#x27;: 0.8119517543859651}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-18 / 2026-09-20 14:04:23+00:00</li>\n<li>interpretation: Up 1.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.47%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.4678368703129552, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 1.4678368703129552, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;adjustment_snapshots&#x27;: {&#x27;ARCC.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;5cc39696b741b6a7f6ef5173b6ee17ae202f57827d5f2508d34598005a420676&#x27;, &#x27;history_end&#x27;: &#x27;2026-09-18&#x27;, &#x27;history_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;history_values_hash&#x27;: &#x27;a1aa7a49941ba2257fc226c4fd245ffc8729bb3ac8512ec987e35f7b4be6a54c&#x27;, &#x27;requested_end&#x27;: &#x27;2026-09-20&#x27;, &#x27;requested_start&#x27;: &#x27;2024-08-19&#x27;, &#x27;row_count&#x27;: 523, &#x27;schema_version&#x27;: 1, &#x27;snapshot_id&#x27;: &#x27;d4b1b8ced2b2073b04db123212cb744a8426fb45dcba31fa47a7f45943829881&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, &#x27;BXSL.US&#x27;: {&#x27;epoch&#x27;: &#x27;2026-02-02&#x27;, &#x27;epoch_row_count&#x27;: 159, &#x27;epoch_values_hash&#x27;: &#x27;3a5cd8166f640cffa1b8dd643580bde45209e7d060786c529ae2f66b36b91729&#x27;, 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&#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:9f87d3ec5dc83c6b0c5b672bffdba2f22f20b8a9321d08dc1595c187dae6b622&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:c8b4e473d8cefbfd79632d7efb64fd1efab983cc065faa5e9e9412121191a62d&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:d79f1ee4993a7d9dc7660f9c446e6bc3c703486aa4aa3d8fe26efba80e93cf2a&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:c8b4e473d8cefbfd79632d7efb64fd1efab983cc065faa5e9e9412121191a62d&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:251c77ef26ba771edcf04d577a14f132226ca6647c1aeb46bb51a1ca1a9a3321&#x27;, &#x27;aib_bronze.equity_ohlcv:3bcf1f8096914ad996e7f2dfc9fbe7bf2ad6879e539c590bd97d779ee0e46102:4ef6af412cf237cdfe1ee303d8441673d4efcfdc98b11549b258d7dd0f900c60&#x27;, &#x27;aib_bronze.equity_ohlcv:3dc4663c02f0a3148f41c68b4b9c75bccf7f2ac1d5eabb07853abce78c732ba0:25a7669140b374f409bc04eeae05a4b9dc8d2b92fec83eafb4914ba59857042f&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:d79f1ee4993a7d9dc7660f9c446e6bc3c703486aa4aa3d8fe26efba80e93cf2a&#x27;, &#x27;aib_bronze.equity_ohlcv:52cfcc46f24533d956647caf9ee6959284277ab3a47f3477691323db409abf29:ec93638e491398433020dfa97ad1ce0845a730aa09f186e45c6b7c8a359d0400&#x27;, &#x27;aib_bronze.equity_ohlcv:8256a25ff7dc2ad804184042a9a2143a1e8d649baf59c097fb0d1ba9a4502435:39e9d3c24354eb50b5d84497f0ab1958f6d20ebbc79448aae4957639e81a57ce&#x27;, &#x27;aib_bronze.equity_ohlcv:85d7cdef97230ccdd3168764d1c9216fa38f2551c6bf236536ac25e15c4ef8fb:c6971bd344d65bf180817920e93be83fc2f4f50857215ec3c1526b5008172a0f&#x27;, &#x27;aib_bronze.equity_ohlcv:ce883bb01047f5ce69d98df2be4dacd8c314a580ff9127865c2e211d3d612172:dca31572cab5920d5951fa37d06151a4c9cc63a3f6bd69cbd55c9178efe938a7&#x27;, &#x27;aib_bronze.equity_ohlcv:cfa71878f642c2e38ada530bc7abddae30e138964ace94001d58da498ba6c9f3:54174e2ab96a0ab8a028261a33f9c9b6ac64ecd8f9082d4d93dd504525d40cfc&#x27;, &#x27;aib_bronze.equity_ohlcv:d0d04645d28798abd333e9f8803dcfc4fe8784a2ccded5627ddb6c978aa30c29:85296de583ac30cd83b73b12d3aec9f422f86309c16222b8ad27fa104388f46d&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:9f87d3ec5dc83c6b0c5b672bffdba2f22f20b8a9321d08dc1595c187dae6b622&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-20-v2&#x27;}, &#x27;value&#x27;: 107.9482599635349}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-19 / 2026-09-19 17:45:51+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,047B (conditional on an IPO), -13.63% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $2,095.; Probability-weighted bucket midpoint: $1,047B.; Seven-day implied-cap change: -13.63%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -13.631071190951427, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.04, &#x27;full_set_prob_sum&#x27;: 1.0025, &#x27;implied_cap_change_7d_pct&#x27;: -13.631071190951427, &#x27;implied_cap_usd_b&#x27;: 1046.875, &#x27;ipo_by_2026_prob&#x27;: 0.033, &#x27;no_ipo_by_2026_prob&#x27;: 0.9625, &#x27;volume_24h_total&#x27;: 2094.52}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-19</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-19</td><td class=\"num\">127,404</td><td class=\"num\">24</td><td class=\"num\">-2.146</td><td class=\"num\">-0.09802</td></tr>\n<tr><td>CISO</td><td>2026-09-19</td><td class=\"num\">646,688</td><td class=\"num\">24</td><td class=\"num\">-1.715</td><td class=\"num\">-6.393</td></tr>\n<tr><td>ERCO</td><td>2026-09-19</td><td class=\"num\">1,613,904</td><td class=\"num\">24</td><td class=\"num\">-1.877</td><td class=\"num\">8.504</td></tr>\n<tr><td>PJM</td><td>2026-09-19</td><td class=\"num\">2,290,845</td><td class=\"num\">24</td><td class=\"num\">-1.582</td><td class=\"num\">3.767</td></tr>\n<tr><td>SOCO</td><td>2026-09-19</td><td class=\"num\">753,004</td><td class=\"num\">24</td><td class=\"num\">-0.05536</td><td class=\"num\">9.34</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">38.83</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">29.05</td><td class=\"num\">0</td><td class=\"num\">-9.781</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">28.94</td><td class=\"num\">2</td><td class=\"num\">-9.892</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.87</li>\n<li>as of: 2026-09-19</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.07645</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>256 benchmarked model identities; 200 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,106,077,075,033</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 666,793,615,810</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.7</td><td>$10 / $50</td><td>≥ 2,499,180,862,202</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.8</td><td>$5 / $25</td><td class=\"num\">6,032,204,463,091</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.6</td><td>$10 / $50</td><td>≥ 387,014,870,538</td></tr>\n<tr><td>GPT-5.6 Sol (max)</td><td class=\"num\">47.0</td><td>$2 / $10</td><td class=\"num\">7,656,771,824,971</td></tr>\n<tr><td>Qwen3.8 Max (0902)</td><td class=\"num\">45.4</td><td>$2 / $6</td><td>≥ 807,134,993,517</td></tr>\n<tr><td>GLM-5.3 (max)</td><td class=\"num\">44.8</td><td>$0.8918 / $2.803</td><td class=\"num\">9,879,659,534,231</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 91 eligible configurations.</p>\n<p>Usage window: 2026-08-21 → 2026-09-19. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-09-20 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;fa02437bbdae0abb7063d5412559501db07fdc05c97c34f91346e35eeef7c720&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;4074a4f24ff5f603dd9e3ad010cbd390abdb5b2c1b9f7eda457811729b0edb0f&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;e604e0cee2131a34a7fba6c93e42de5c28915e805c44b6d700e60384e2a87eed&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-20 14:02:29&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-20 14:02:33&quot;, &quot;record_count&quot;: 1527, &quot;records_hash&quot;: &quot;07068d1b94defd0ee0a9a5037a5df3961986007df370b33f81fd749714f6dddc&quot;, &quot;snapshot_id&quot;: &quot;5dbe19c9054a1cbf610fc069e81d260e9c988455aa98c4609b22c5346184d229&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;5d614172d160754c5aed3bbf98f0b9ed3c7db8bb48425bd691e74d1041244dc1&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;ca9413903a76742b802b555dbbb0e2a9518f423e3a22d91d4c6c433a6ad9b59e&quot;, &quot;bd7ee7ba10b43de00aaf0ce02d1f66d507c6989271c716d03ee1a5bdd5ef615b&quot;, &quot;335b3a33cca38a67a1717bbc345b8e132b06cbece5c8bef0f2f6c6934ea4ece2&quot;, &quot;390d39d3f33bc729b38c042367cb54661e3cc9c833c42d3a89892b2ad7d83f5e&quot;, &quot;77e15d5929c9764ba7d314fd25273bfd7e4b2d8cb49be4f356832cd7586c2788&quot;, &quot;bd8d7c6eb203fc881bfb0cd9d7bd932c85ad6d22e2d4bc4bd3742a60f00be97f&quot;, &quot;c127d61425b680013e2c480efdd9deeab2c3c0f927b3e412dfa715eb6fefe322&quot;, &quot;6f136a7ca738d83729c504fa7a5f06223da459beb913ef69665d0ed29007fb0f&quot;, &quot;777c2a8e0722472e7e61e60b1265a64aa6568d06231109f19b0df88abfce0b1d&quot;, &quot;9a16ee8f84beedb075929f1934f4c10091a22d2b57674c3199b09679ea9803ce&quot;, &quot;9c69af4959f622b6e997acf940022ea0cb09f6d76dc5e5df3d770daaeecf7aef&quot;, &quot;e1aac2bfc3f7f8936c5ef976bfaa454bc6a0b468a0abd6eb77c0674d72f03dee&quot;, &quot;83a6280bf868a4a6138761961372ebadba38aa219b2d15a67c1d7152db36b43e&quot;, &quot;7dde52ec1bfeadae840e4470ab474918d227a98987bb2b498f23e16cf0c79ef8&quot;, &quot;df50ffcdc39d91d8c35e761ed9ca081a4e11a398a334d15ca7721e5a258028a9&quot;, &quot;0195597b0f0190e3cb76defc94546e65d1c82a40a6ebd6d979bc9b1431c4140b&quot;, &quot;b8ff9af6dda23a2ec1e986ff4bf6725a456528e32b856ec787ad74c5947ed9f3&quot;, &quot;4f7041bb11a5f234a72a089fe14a9b1ed5868eeb57f34fcf677bca2eff2fa32e&quot;, &quot;15ad30c7ef91fb7c9b6439271c5d6bac4b314d2ed7280ffad85461a8f03e8f96&quot;, &quot;667da24d22e72a868326f74b6d5b3c32aee052f1e9d202bce2184d97b17f3d5d&quot;, &quot;1915737365d8539ab1f76dc9b453c58c1f9fe217f8d1328d7b76058999451680&quot;, &quot;584222761b00241538de65bc9e2cc23851954a94a6974a37953ef45ad679142d&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-09-20 14:02:36&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-20 14:02:36&quot;, &quot;record_count&quot;: 744, &quot;records_hash&quot;: &quot;61cf12c0693e0dd9bb9a4413d4ac463a9077a0e5199742bbd4692a58b3a9bb7f&quot;, &quot;snapshot_id&quot;: &quot;92b64ae11e1d86d7b8a83e95f549153c1977c2d0e2f494f1c964ac9cd31398a3&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;669df572522d3f549a867071e0f9eea89693cd08f87ae443be63d85425b84254&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;dc8b0051cda6d244b1056f37e8c967e2983a909a57f6674e8b4e965eb030d558&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-20 14:02:29&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-20 14:02:33&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;8dc292820814f2cc0f8c67fa71f2aeb2ae52f00f4603b7fe3fd188bd2941ef46&quot;, &quot;snapshot_id&quot;: &quot;0250c78cc10c513ec761b3c8e2eb0c1f14187f53d567ed91ff3ae73c2ff9776e&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;833687fd739f83ad46970222721372ec24dcffb3d20b75ac03e9cf5b0ffd2f89&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;20438cc06265f6202e9b43ec8080443dcb652d03e3cd80318df006ce35e28ce5&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-09-20 04:53:38&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-20 04:53:38&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;99da8cb16523b3988a840455387196abfd3eec412f182cc47e9dff594992c410&quot;, &quot;snapshot_id&quot;: &quot;08b1e327186e8a5750f0831030a12b0ef5e6272b5b9c575974c091edeb88b4ce&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-20 19:54:35</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:03:03</td><td>—</td><td>head unchanged since last anchor (seq=6)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 05:30:06</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:29</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-09-20 23:12:54</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-20 23:11:53</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>error</td><td class=\"num\">0</td><td>2026-09-20 14:05:18</td><td>—</td><td>RuntimeError: silver_correlation_regime: KXIAY.US: missing or mixed adjustment snapshots; full refresh required</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">136006</td><td>2026-09-20 14:02:24</td><td>—</td><td>partial: KXIAY.US: Price snapshot omits 27 previously retained dates; PSTG.US: API error 404: Not Found; PDN.AU: Price snapshot omits 1 previously retained dates</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">204</td><td>2026-09-20 20:23:00</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-20 23:07:48</td><td>—</td><td>partial: PJM: gridstatus PJM DA fetch failed: HTTPSConnectionPool(host=&#x27;api.pjm.com&#x27;, port=443): Max retries exceeded with url: /api/v1/da_hrl_lmps?fields=congestion_price_da%2Cdatetime_beginning_ept%</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">446</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">572</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1527</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">744</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-20 05:10:08</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-09-20 14:02:24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: engine</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-21T05:10:12Z",
      "id": "urn:prexel:issue:5e17aafd-d0d8-5dd9-967a-42cf16f1cb50",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 29 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-20-daily-a843e40aec72.html"
    },
    {
      "_prexel": {
        "content_hash": "4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314",
        "context_hash": "c5fb29ae5ec63fdcec93a805cb712b17bf6e740c77097f3fc1bb1b9364de092f",
        "kind": "daily",
        "period_end": "2026-09-19"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-22 05:57:30.836000 · correction <code>66a8d72c7ff2507a41eee465d55148efd27ae675ee3e596f446382466b0ab7a0</code> · hash <code>088612a5095cbdde5669d43ff249b2816bc7f16a1f506b6235f502e8a139f325</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-21 01:56:32.522000 · correction <code>d7fac89e571bfded25806ebeeb8b35e5ae8b90aa6d3db84e8b6ad54eafe97670</code> · hash <code>0dedd01a08defd59e540879f523ea2115775c2e7e88007b619f323788e9e2e05</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45.522000 · correction <code>a284ef651204caaec272b9520209ee5be74ee0670596f5123787fbad8599dfdb</code> · hash <code>62a1a57a26f7fb68a7f987b83af0fb28be21cfdc78e50e6d32350b0d6edc2ee8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>4fb89557fda96c79ad7e68d20678cc8a1abfaa7dbdbba4bd84accf643b4b2314</code> · effective 2026-09-20 13:53:45.522000 · correction <code>4118be3aec7ae80a0614cdba15fa2b7600db35df0a9b00844e27bd1b51c945c7</code> · hash <code>ff7d7cafa866a5d17e843aff17bdbd1d135666524814df22eeafd28e38d5f741</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 28 (daily)</h1>\n<p>Period: 2026-09-19 → 2026-09-19</p>\n<p>Context hash: <code>c5fb29ae5ec63fdcec93a805cb712b17bf6e740c77097f3fc1bb1b9364de092f</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>23 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 29 usable / 22 no read — 11 bullish, 9 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>Inference demand — OpenRouter — ⊘ No read</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: fewer than seven snapshots so far</li>\n<li>data quality: a panel, not a census; public apps only; rolling 30-day window</li>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:07+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +1.31pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.3%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 1.3127925687154374, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.34888313881893, &#x27;top10_share_change_14d_pp&#x27;: 1.3127925687154374}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-16 / 2026-09-18 07:17:06+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 4 cuts, 4 raises.; Fixed-basket price at prior-day token weights: $0.698/Mtok.; Seven-day like-for-like change: +0.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.6419790588104934, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 329, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6976795426565414, &#x27;like_for_like_change_7d_pct&#x27;: 0.6419790588104934, &#x27;price_cut_model_count&#x27;: 4, &#x27;price_raise_model_count&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:07+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: +1.72%.; Token-weighted effective price: $0.767/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.7203601925907863, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 1.7203601925907863, &#x27;effective_price_usd_mtok&#x27;: 0.7668944025207813, &#x27;matched_model_count&#x27;: 328, &#x27;total_standard_tokens&#x27;: 115914611310333, &#x27;unmatched_token_share&#x27;: 1.333101054022385}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-16 06:25:42+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.8 listings/month.; Relative change: +84.9%.; Trailing three complete months: 104 new listings (34.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 84.88888888888889, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.75, &#x27;listing_rate_change_pct&#x27;: 84.88888888888889, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 104, &#x27;trailing_3mo_rate&#x27;: 34.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:07+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +10.10pp.; Open-weights share of routed standard tokens: 66.9%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-1.67pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 10.096696261060224, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -1.674780483616388, &#x27;chinese_lab_token_share&#x27;: 64.93942407353508, &#x27;matched_model_count&#x27;: 328, &#x27;openweights_share_change_14d_pp&#x27;: 10.096696261060224, &#x27;openweights_token_share&#x27;: 66.94749277225347}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:13+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $42.98/MWh vs prior 14-day $53.61/MWh (-19.8%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -19.836727376879264, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 42.975473981092435, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.609929553571426, &#x27;caiso_da_trend_pct&#x27;: -19.836727376879264}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:13+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.82 MMBtu/MWh vs prior 14-day 18.73 (-20.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -20.871117222776935, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.818807833448272, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 18.727432150367484, &#x27;caiso_heat_rate_trend_pct&#x27;: -20.871117222776935, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ◆ Mixed</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:13+00:00</li>\n<li>interpretation: PJM load growth is tracking the CISO/ERCO controls within the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +11.55% vs control mean +11.32% (gap +0.23pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.2324854579231257, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 7.709872054956338, &#x27;dc_load_premium_pp&#x27;: 0.2324854579231257, &#x27;erco_load_yoy_7d_pct&#x27;: 14.920447241462286, &#x27;pjm_load_yoy_7d_pct&#x27;: 11.547645106132437}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:13+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +22.51% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 22.507498804916757, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 22.507498804916757, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 7.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.010753961591131, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -7.010753961591131, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: 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&#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:09c006feddb80d1e9e18962f4db61095edb3d3646bddca54339a4c160d899cbc:097263157199827c9c4e65a4ddaff1993d0d0c4e59423d24b9a6c363f2ce516d&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8e4bf0c9f5f810d8b0037887e64400045a7eb4072c65595f2d3a0d3cdc58691f:1e309be087a24353d40c6e44a7bfe3952d2aa90e1548b55127c89341405f11d2&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8096775f0969d0e8176cff6d09d3201325085bee592db2ad39e251ca5e9bdc97:f367189d080c8d64c8286f1cbd322a182399882acf3a90fb1e7e9ee65cbf3cdc&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:816dc4c669fcb7b81322886dd809a7910413327e4f3352d61180ba81fae1de56:dcc2544081b6ab8064ab5898c2498cd62f317717c547414c9265051e797d11dc&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d04b45a3a95abb1c21289c1e35503cfbd208c453a8816d6a15b8c064cc5eb69b:585dd56fae60f6770da86a3edd71d19225b4cfc34c4698d83b10e333ff5b2946&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:bf9ac43e5358692dd85131d85e5e9e5d5ec11d3ea07eefa33ed7f982d554375e:d782c3cf6ab367121916d8f3557243d277caf1e09e570f5392c1512f278c0cce&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:51c1c2fb50596d93f8e843b562039a10421a76960d88acae76805a18a798f8be:77506d60f980dbe267ae20625e9b93f5f2997123c182ada5e0eb9954eb1a2210&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0f30a3c6e11fe287b3407995ae680bd4effe4bb2b56c6c5c4945489827fcae10:cda72ff51c0293e372f5858dcbee6d5a80bde14a8b442c6fa40a60afde36c4ba&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0fb880f9304f38381163395c0833f292e4a728dc192cd11510399fc9b60680d5:6cd899b986286d406d54342c5b305b4d216f93b61b3f58a64447b9d44f1b63be&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:09c006feddb80d1e9e18962f4db61095edb3d3646bddca54339a4c160d899cbc:097263157199827c9c4e65a4ddaff1993d0d0c4e59423d24b9a6c363f2ce516d&#x27;, 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&#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 60.291355222883006}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:13+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.964</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;z&#x27;, &#x27;value&#x27;: -0.9637207731812047, &#x27;window&#x27;: &#x27;weekday_baseline&#x27;}, &#x27;dc_load_anomaly_z&#x27;: -0.9637207731812047, &#x27;dc_load_growth_yoy&#x27;: 14.536809962930858}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 5.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.88%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.882508068072934, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -5.882508068072934, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 07:18:29.108000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3e5f2a22159a4f4539aad866d53d74afa8204bdb2774eb791259b6489887cfa7:8f29f7cb1ccf4cef77b124b73d727fe6ba4edffc6ad5b5506406abdf0b49d3e1&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4d4d7cc17d2d9b02dbfc10e9e04359101f08917c61d8f90693178ad61066aa54:018f7d6897acac866120781ee80b636f5deeeb59c241b25d0652464ab307fba0&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fb7852ebfc40d292919c0472e1d1a3629702e691a4704ae1559c9f02fe1f416a:32b9fe279fecd3c568e7e0b65f9a0cd23d819256a6da59af15fd8be4176303d2&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b387fba1ad54d7cf0aa4d165b9ba5bd734e1369d171c37ccf823fb0cdfc29cec:a67ae609c2a27cbdb149fda1fd0b567de6c373f8635acd9e2d78e53225833233&#x27;, &#x27;symbol&#x27;: &#x27;DLR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e0b509285fec09fba9b0d3f857f5c2ed6aba682dfe9b9a48dd4e0f2e94df3186:a3e3d3499179621f225ccb4f013831afb73b7e79e81ac1b9c2c784b7d76c4347&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:06eded09a5519c167fd93f8c7340d2715d460390634fe1d025c4a04d400f5b4f&#x27;, &#x27;symbol&#x27;: &#x27;EQIX.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:0e98aaf6a49dbb4acfb6280195ca5f7fba1a45c2fab48fbe17795ee34ee570dd&#x27;, &#x27;symbol&#x27;: &#x27;IRM.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3e5f2a22159a4f4539aad866d53d74afa8204bdb2774eb791259b6489887cfa7:8f29f7cb1ccf4cef77b124b73d727fe6ba4edffc6ad5b5506406abdf0b49d3e1&#x27;, &#x27;aib_bronze.equity_ohlcv:4d4d7cc17d2d9b02dbfc10e9e04359101f08917c61d8f90693178ad61066aa54:018f7d6897acac866120781ee80b636f5deeeb59c241b25d0652464ab307fba0&#x27;, &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:0e98aaf6a49dbb4acfb6280195ca5f7fba1a45c2fab48fbe17795ee34ee570dd&#x27;, &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:06eded09a5519c167fd93f8c7340d2715d460390634fe1d025c4a04d400f5b4f&#x27;, &#x27;aib_bronze.equity_ohlcv:b387fba1ad54d7cf0aa4d165b9ba5bd734e1369d171c37ccf823fb0cdfc29cec:a67ae609c2a27cbdb149fda1fd0b567de6c373f8635acd9e2d78e53225833233&#x27;, &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:ac4ef0495a154809afb2530ecfadb90717d537cb754953085c659f11238de178&#x27;, &#x27;aib_bronze.equity_ohlcv:e0b509285fec09fba9b0d3f857f5c2ed6aba682dfe9b9a48dd4e0f2e94df3186:a3e3d3499179621f225ccb4f013831afb73b7e79e81ac1b9c2c784b7d76c4347&#x27;, &#x27;aib_bronze.equity_ohlcv:ed645a24aaf9e81a2ab564c6741ee7fb643fd7e9dbf4c738424437999fe15939:4fa2ec0aa27337505402e7fb67e5a0724a77839195bd2c5c8116b608b7b1990d&#x27;, &#x27;aib_bronze.equity_ohlcv:fb7852ebfc40d292919c0472e1d1a3629702e691a4704ae1559c9f02fe1f416a:32b9fe279fecd3c568e7e0b65f9a0cd23d819256a6da59af15fd8be4176303d2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 112.7863148076864}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Up 6.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 6.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.110644228990991, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 6.110644228990991, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;MSFT.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;AMZN.US&#x27;, &#x27;META.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 01:24:33.597000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d690a8d10a58b751434af420d64eec8e610f66984e457c1656e6fa48f4028847:c0b6d65b0610870db629e4f8dd3dff0364149b8328e3e58a5f6b2153abb71fd8&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:11f99b109d5390f70c866262c1f0ec7bb746bb1a73716ac0946f4e0f770f5f41:39cfe6390f4009540127e836207ededa02c9ac858c3e9738c920bbfc6fe79855&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 9.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -9.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -9.003812042297055, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.59%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.5929763546291285, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.5929763546291285, &#x27;components&#x27;: 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{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:97b8dd679853c5d88ca48ce9cb8fa7bdb8a831659d8f979d9e02e6d867d8407d:8f1935fbc8fed251bfd29928b0327b03154fb6ce552f9e6a05f9cd76761cc456&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:13b387681a6281daa321bdde43d3e8b06f8d0c6e20bb491d287a6f0481d36e38:d8bea3508cf92537d9daec917bba2afadce7e8c2a823ae0644316dc75c473344&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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<code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.19439532915901392, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.19439532915901392, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: 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<code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.237.; Two-year own-history percentile: 35.9.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 35.947712418300654, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23732827265460207, &#x27;pair_count&#x27;: 17205, &#x27;symbol_count&#x27;: 186}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.25%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.2508509732456532, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, 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&#x27;aib_bronze.equity_ohlcv:3c288db1e6534f0f585ef1ce7083e18b931bd0366d03c8db76d4d918361036fe:ccfcbf5024120c3c89bf257e40cbf37c28ccd41111d0e3734b872804b10ad8bb&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f46f13ba647e1a36d9cf443d1eeb823371b5a72f98e1ec6410fea1de08a4c9dc:38b3f6edd6e016bbe5469a8240945cdd59e644183d28c738287a41421ac15b4c&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7cd748eeddd6b949d365873309c4b3a5aa70f4d0bb2b258f461966b0171e290e:4f1af9cc0a4deeee4a73c1f5175fbf3f07555a7c94f708243150ffe266fcbf95&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:38f153cacb8bb956fb979ac651c5c93f199afbfbbfc58ae3cb2068b20aec2ec4:092b1cc3b8ef5bbaa63ac2d912567ecc831999f9ac2d73ad0eed946f6297edc3&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:0c2630e2d0fcb9f5991d51a09a4a84378294a4a632d5453c8f26339cb5f6023a&#x27;, &#x27;symbol&#x27;: &#x27;HYG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:6d922cdc4d1caecd2c4e9403d176ecaceaf148436acb29b26d83085d2ab19a78&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:6d922cdc4d1caecd2c4e9403d176ecaceaf148436acb29b26d83085d2ab19a78&#x27;, &#x27;aib_bronze.equity_ohlcv:38f153cacb8bb956fb979ac651c5c93f199afbfbbfc58ae3cb2068b20aec2ec4:092b1cc3b8ef5bbaa63ac2d912567ecc831999f9ac2d73ad0eed946f6297edc3&#x27;, &#x27;aib_bronze.equity_ohlcv:3c288db1e6534f0f585ef1ce7083e18b931bd0366d03c8db76d4d918361036fe:ccfcbf5024120c3c89bf257e40cbf37c28ccd41111d0e3734b872804b10ad8bb&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:0c2630e2d0fcb9f5991d51a09a4a84378294a4a632d5453c8f26339cb5f6023a&#x27;, &#x27;aib_bronze.equity_ohlcv:7cd748eeddd6b949d365873309c4b3a5aa70f4d0bb2b258f461966b0171e290e:4f1af9cc0a4deeee4a73c1f5175fbf3f07555a7c94f708243150ffe266fcbf95&#x27;, &#x27;aib_bronze.equity_ohlcv:f46f13ba647e1a36d9cf443d1eeb823371b5a72f98e1ec6410fea1de08a4c9dc:38b3f6edd6e016bbe5469a8240945cdd59e644183d28c738287a41421ac15b4c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 102.66517174303466}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 2.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.262115136223697, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.262115136223697, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 01:24:33.597000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b65c31e51a6fdd9c026b8af07ece70336b797397e6c77ca5b8cd5002bab02676:fc70606021325cd20686df34c89dabce5e2c54363eb8c2d6f82d7c5c9e9bf2f1&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:ac5a2375b3ac1f2d27778cb73903addba59f958dbd17490a5a3121a158deea19&#x27;, &#x27;aib_bronze.equity_ohlcv:61f4b2b0cb94afacd673b7b32f84dcfcb2040db80bb5c6c3cedd7ddbae2468d2:67c1150205c9517a1c4c88973a3be901490c04c797389c37b7e9630605baf126&#x27;, &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;aib_bronze.equity_ohlcv:b65c31e51a6fdd9c026b8af07ece70336b797397e6c77ca5b8cd5002bab02676:fc70606021325cd20686df34c89dabce5e2c54363eb8c2d6f82d7c5c9e9bf2f1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 98.66082239724525}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.56%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;aib_bronze.equity_ohlcv:8aaf81706c4d7faa99895cbc364590f78ed42136be34b881427c4a5bccb6a0c0:4449269fe8921519224d5732b281aaa0e894cc8044d8eef9e9965cd7a4fb0d6c&#x27;, &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;aib_bronze.equity_ohlcv:e11f2ae31c7864423a7bcf9458aae41eea046e34e5e50dcbfbec4e40db7f0ebe:a8bbf26534bdd12fc5c3b6247fa55e622c7662faef5d42c0750413d7d49dda3d&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 104.50174423190006}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 4.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.62%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.62347249162195, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.62347249162195, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 01:24:33.597000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e89f552662617dee89ce5db25257ee317dd06a458c408b1f920a4f61cc9c531f:fa76525f4ea23d3be034f9ccdccddd794a22d5c6c64b4d2a0e48680ef9e40973&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9532aaee454551bc1e9883538b32c9c776f116ccea689353a6e0e0956b9f5d82:e7ff5cce0ce9bebdfd33460d8bc3e8fd153f3955213b352aaf29908a39fd6fd6&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:94b9a95003bfe2359b13fdbb6fb104e708584a7c7e4bce0a0e03d754a90a7103&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;aib_bronze.equity_ohlcv:9532aaee454551bc1e9883538b32c9c776f116ccea689353a6e0e0956b9f5d82:e7ff5cce0ce9bebdfd33460d8bc3e8fd153f3955213b352aaf29908a39fd6fd6&#x27;, &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:94b9a95003bfe2359b13fdbb6fb104e708584a7c7e4bce0a0e03d754a90a7103&#x27;, &#x27;aib_bronze.equity_ohlcv:e89f552662617dee89ce5db25257ee317dd06a458c408b1f920a4f61cc9c531f:fa76525f4ea23d3be034f9ccdccddd794a22d5c6c64b4d2a0e48680ef9e40973&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 90.54803072674716}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Front VIX at 0.83× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.832.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 01:24:33.597000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2289c39291c9fa7e4603a2533c47c0e3297e6321a7a42515ad1d3e9a1544cf4a:5bdd009f85ca35b5ec0c11e4e17acc01c755abde03a73eeb7605019583cf6ac6&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e0cc62871b530b46f72baae93d55f0328f9f5d4395965d166f49beacb068294a:2b8589b28ebbb86d1cad2d179b5e2a04974c485ab3a4b4db080c8d22d514fca8&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b8f4be23ef3d6041fd7a637ed4f1dfd65051b8d854141bf4930e087fc123f445:2e0afc7be66174ca1f557e7684721d0e046d60a0e3840c35a14d5479251df114&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10a4f1a963790caf21e1a9ca0f2ca8c8eca4985492b3a7e3449d77da48add119:c6829b9b8604bd001536af64291e6cd199ed23bc1e6e293e8f30e8128d78914e&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:10a4f1a963790caf21e1a9ca0f2ca8c8eca4985492b3a7e3449d77da48add119:c6829b9b8604bd001536af64291e6cd199ed23bc1e6e293e8f30e8128d78914e&#x27;, &#x27;aib_bronze.equity_ohlcv:2289c39291c9fa7e4603a2533c47c0e3297e6321a7a42515ad1d3e9a1544cf4a:5bdd009f85ca35b5ec0c11e4e17acc01c755abde03a73eeb7605019583cf6ac6&#x27;, &#x27;aib_bronze.equity_ohlcv:b8f4be23ef3d6041fd7a637ed4f1dfd65051b8d854141bf4930e087fc123f445:2e0afc7be66174ca1f557e7684721d0e046d60a0e3840c35a14d5479251df114&#x27;, &#x27;aib_bronze.equity_ohlcv:e0cc62871b530b46f72baae93d55f0328f9f5d4395965d166f49beacb068294a:2b8589b28ebbb86d1cad2d179b5e2a04974c485ab3a4b4db080c8d22d514fca8&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;vix_vix3m&#x27;: 0.8323450134770889}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Up 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.220082393057776, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 2.220082393057776, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 07:18:29.108000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9d20f285ed8a759ec1a1fc30337cc686b9c779f52b7de8a9e237c6980feffca:e3b2bc65ac88c9a873d9cb68ba8d987038112dab7dced650a495da8e56883278&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:1c3fdbd423343684432a09e31d7b42ff5f3aabb961b603e140a11b5d0f034d67&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:9f87d3ec5dc83c6b0c5b672bffdba2f22f20b8a9321d08dc1595c187dae6b622&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:6d922cdc4d1caecd2c4e9403d176ecaceaf148436acb29b26d83085d2ab19a78&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:03d1b4e98672f98067240bbd67e273fb846010e53668f7b6678ac1ed9c9246d4&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:6d922cdc4d1caecd2c4e9403d176ecaceaf148436acb29b26d83085d2ab19a78&#x27;, &#x27;aib_bronze.equity_ohlcv:28cef00b048951f51bcff94744701e1e7fa18ceacf2d4ba538b829eaedb2e762:92d07c03e8dbb28941f0ad41947029712da416ea3e3475253fc2db0b942bf0e1&#x27;, &#x27;aib_bronze.equity_ohlcv:2e0315b353536c4a82965693fecc1074a62e340f16f58e541531ed61b2dff36c:89bcba5693d10fa2f44dd5b8f81450d997ecfd48b1362c5a6aca768e48cd8b68&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:1c3fdbd423343684432a09e31d7b42ff5f3aabb961b603e140a11b5d0f034d67&#x27;, &#x27;aib_bronze.equity_ohlcv:38f153cacb8bb956fb979ac651c5c93f199afbfbbfc58ae3cb2068b20aec2ec4:092b1cc3b8ef5bbaa63ac2d912567ecc831999f9ac2d73ad0eed946f6297edc3&#x27;, &#x27;aib_bronze.equity_ohlcv:446653161dc469c7040fdffc5be14c14e145045cb42c1c44584e14acb1b486e0:db4b4f50831eda6d93fa12132bc22d4e819a27ae62ded51f427dd0738a6b1882&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:03d1b4e98672f98067240bbd67e273fb846010e53668f7b6678ac1ed9c9246d4&#x27;, &#x27;aib_bronze.equity_ohlcv:54d800ed01f2feca57885ea1d4c40e70f1a48f6c2f6cfc9bf1434459e7c78177:5d28154668f0e74677064b9d9abd802dc5d292483918e6a28afba48e2dd09932&#x27;, &#x27;aib_bronze.equity_ohlcv:825034b90d3fef8b75dca43eb92e2554265d682131c65c3d69536fe1d96e725e:bad0b6c09087615f0006fc7ead7bd7b1ad51853c864beb001739bb7f99ccbe8c&#x27;, &#x27;aib_bronze.equity_ohlcv:f46f13ba647e1a36d9cf443d1eeb823371b5a72f98e1ec6410fea1de08a4c9dc:38b3f6edd6e016bbe5469a8240945cdd59e644183d28c738287a41421ac15b4c&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:9f87d3ec5dc83c6b0c5b672bffdba2f22f20b8a9321d08dc1595c187dae6b622&#x27;, &#x27;aib_bronze.equity_ohlcv:f9d20f285ed8a759ec1a1fc30337cc686b9c779f52b7de8a9e237c6980feffca:e3b2bc65ac88c9a873d9cb68ba8d987038112dab7dced650a495da8e56883278&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 108.70169595218488}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-16 / 2026-09-16 21:04:32+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,039B (conditional on an IPO), -14.32% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $2,387.; Probability-weighted bucket midpoint: $1,039B.; Seven-day implied-cap change: -14.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.315402117575548, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0405, &#x27;full_set_prob_sum&#x27;: 0.996, &#x27;implied_cap_change_7d_pct&#x27;: -14.315402117575548, &#x27;implied_cap_usd_b&#x27;: 1038.5802469135801, &#x27;ipo_by_2026_prob&#x27;: 0.048, &#x27;no_ipo_by_2026_prob&#x27;: 0.9555, &#x27;volume_24h_total&#x27;: 2387.467}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-17</td><td class=\"num\">137,479</td><td class=\"num\">24</td><td class=\"num\">-1.626</td><td class=\"num\">-4.055</td></tr>\n<tr><td>CISO</td><td>2026-09-17</td><td class=\"num\">700,668</td><td class=\"num\">24</td><td class=\"num\">-1.344</td><td class=\"num\">-8.735</td></tr>\n<tr><td>ERCO</td><td>2026-09-17</td><td class=\"num\">1,715,891</td><td class=\"num\">24</td><td class=\"num\">-0.9647</td><td class=\"num\">13.63</td></tr>\n<tr><td>PJM</td><td>2026-09-17</td><td class=\"num\">2,629,433</td><td class=\"num\">24</td><td class=\"num\">-0.9637</td><td class=\"num\">14.54</td></tr>\n<tr><td>SOCO</td><td>2026-09-17</td><td class=\"num\">766,095</td><td class=\"num\">24</td><td class=\"num\">-0.7417</td><td class=\"num\">11.25</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">40.39</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">36.18</td><td class=\"num\">0</td><td class=\"num\">-4.216</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">36.01</td><td class=\"num\">0</td><td class=\"num\">-4.384</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.802</li>\n<li>as of: 2026-09-16</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.4082</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>256 benchmarked model identities; 200 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 1,041,422,019,293</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 724,204,153,478</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.8</td><td>$10 / $50</td><td>≥ 2,359,135,126,100</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.7</td><td>$5 / $25</td><td class=\"num\">6,134,886,843,201</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 434,046,407,325</td></tr>\n<tr><td>GPT-5.6 Sol (max)</td><td class=\"num\">47.1</td><td>$2 / $10</td><td class=\"num\">7,734,595,964,438</td></tr>\n<tr><td>Qwen3.8 Max (0902)</td><td class=\"num\">45.4</td><td>$2 / $6</td><td>≥ 741,840,484,821</td></tr>\n<tr><td>GLM-5.3 (max)</td><td class=\"num\">44.9</td><td>$0.91 / $2.86</td><td class=\"num\">9,614,036,786,060</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 102 eligible configurations.</p>\n<p>Usage window: 2026-08-20 → 2026-09-18. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-09-19 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;70a15e1496db8211902bcbbb1beaf13a03b6bf277397408f3ad893162c0344e7&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;ffd6a221a7144a939b25e5d191b1a720bf41f1a23fb1fa12d2bbf8800096d48c&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;824f4fc2aeb687aa6abe3d73988779187031ac74b4c005b989c1d3de068ac0bb&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-19 07:48:40&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-19 07:48:41&quot;, &quot;record_count&quot;: 1527, &quot;records_hash&quot;: &quot;324b027477cec1ab46126fcfd5a2785150ef4f738435ea9dda0fd96a305592ca&quot;, &quot;snapshot_id&quot;: &quot;0d124ea78eb5126196c600a9787ce0257e00387ff91ffc062df4b077c0fa4ebd&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;b387291e5580b44adb0c8854ad91a698dbec3bac67541a91cfc847b0cd3f0249&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;fe0aff01f8ed370def9d2af981b8e8f278b3e5d8b4b6e8bf02455ecc077f5ef2&quot;, &quot;ffc50ee597d9814a5113eaa9c5813d85427ed664a496a6231291388ec2c257e5&quot;, &quot;d9407f7b171f036a1821e6243adb1498f42a989dc218544c6070b4ce1bfd65d7&quot;, &quot;37254f1b6e91a5a17e14074fe761398abf821cd4fe1f3944068e548428680301&quot;, &quot;dc0cff9b6e681b663a8ddfbb5a5306f8ac2fb512f475596d03ba810cbc8fd88c&quot;, &quot;29cca9d973c653bee95eeef0bfc067b04b9b08fed1104e633bee52b1351d3083&quot;, &quot;23bf5cc51ac6666198e910d505ac4a3fa77f83ad9d751b0034432b326ec1a5d4&quot;, &quot;1168ff8a0d90c5cab46b43864c237bbfa83fe175a5e2c17b11c63e561529fc8a&quot;, &quot;660c36d763e5ab6f0d95f9b18cc3a91f79c12578dbafaef389deba4f33a7d6dc&quot;, &quot;63492173bc3b478d875dd8c25ef9b4e93da723960cef82e4240684dd50030573&quot;, &quot;86d1e327d2992376e7e91d9ada4beba2c9bbb1d4842204dd8e3b8de966b8e82b&quot;, &quot;88b5e3b0fe1865ffb28b0a2022e2351c4dcd6c08a6544e618658170b56a69a30&quot;, &quot;c80843c028b3714f3c923c455a32733878587044c94f782711df76119f329467&quot;, &quot;8268e09e781085619626560524a0dffe1b8db5b904c3ce60cf98a3d94fd44b54&quot;, &quot;c197f20402f15445163f457257e93f10b0bbeb17ec18ad3028571963cd4c1e4d&quot;, &quot;56a6f3cdb2f4683c478630458799f9ede7ae0ad6236f0cee8efb287fe72a637f&quot;, &quot;2f92a194c98c7750c190059700075c8edfbad002821d861bce3c98ae50616758&quot;, &quot;c8a1b162744009d2baa6764aebff697f8af696c8e04bb25984a932d9030f01bc&quot;, &quot;8c7198d51d88fc6fd7282cea7fef938e164fc02155e267e98e523a6379c95ef5&quot;, &quot;c8d993357b43b43b534aa80d52730a6b65c9e78143b003b2d1e63d883624cba9&quot;, &quot;ff9bb9d3c96b2902f29696012c1bcc44470eac36174ddb58e18efeafcb5cdba9&quot;, &quot;2c6e90ff94ccb3291d62741d1d509627a8d7437da6a4dfc029a1ddf962a52836&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-09-19 07:18:59&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-19 07:18:59&quot;, &quot;record_count&quot;: 744, &quot;records_hash&quot;: &quot;fc26ae41710fefdfc9f2edcc4093431a6d91c7d55da815fe3e4d166518691345&quot;, &quot;snapshot_id&quot;: &quot;120e4ad56172ed468b18a1a1c910e5d7593e37d3c3d1308c28ee51cb0efadd3d&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;46675902d978a5fa18e8be253c579d55e4ac17e345d293e6838246cf8c4de222&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;5015237f0565252b8d12e1e90a7a7f783d5d6ab857b79445678b5f158a418d79&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-19 09:11:47&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-19 09:11:48&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;8d8707fbacb10d76112a26fa503ce286ba6d95b44eaf3dfac256a4b70084bff6&quot;, &quot;snapshot_id&quot;: &quot;4f022c09765ae620aba859f9078bf5ef60d600ea27404c36b29995dc696841d9&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;68dc69469d6730206a59bcd762f5a293fffc696eb16167ef4f027032efe05c98&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;d2dc515b1c1ce172c302de315f7317b689f678974d7e57ddf414fc34087014df&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-09-19 06:30:55&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-19 06:30:55&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;cef6ef0beb6b3acd310fdeeea1d2027cd6df298c532d1617200b50121846d83e&quot;, &quot;snapshot_id&quot;: &quot;98b50ad2c7c01f67b3616a0dbda2bf53ff992e2a503382b66336b31f9843d8dd&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-19 17:45:50</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-19 05:20:03</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-19 08:05:57</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">2</td><td>2026-09-19 05:30:03</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">155</td><td>2026-09-19 08:57:36</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">6</td><td>2026-09-19 08:08:04</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">5</td><td>2026-09-19 05:54:43</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-19 05:54:46</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">285</td><td>2026-09-19 23:11:05</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-19 23:49:51</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3389</td><td>2026-09-18 07:18:31</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-09-19 06:02:58</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">6094</td><td>2026-09-19 07:48:05</td><td>—</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">185</td><td>2026-09-19 18:49:14</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-19 08:24:03</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-19 23:53:33</td><td>—</td><td>partial: PJM: gridstatus PJM DA fetch failed: HTTPSConnectionPool(host=&#x27;api.pjm.com&#x27;, port=443): Max retries exceeded with url: /api/v1/da_hrl_lmps?fields=congestion_price_da%2Cdatetime_beginning_ept%</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">447</td><td>2026-09-19 09:04:40</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-09-19 05:42:20</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">571</td><td>2026-09-19 05:34:24</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-19 08:37:10</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-19 09:25:40</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1527</td><td>2026-09-19 07:48:35</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">744</td><td>2026-09-19 07:18:54</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-09-19 09:11:44</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-09-19 06:30:53</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-19 07:33:11</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-19 05:10:08</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-09-19 08:06:27</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-09-19 06:14:13</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-20T05:10:11Z",
      "id": "urn:prexel:issue:94904310-9e1a-58ee-bd0c-74a69428ca74",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 28 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-19-daily-4fb89557fda9.html"
    },
    {
      "_prexel": {
        "content_hash": "13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e",
        "context_hash": "1153d472c6814ca5cdee7b026646ccd56d3cba58d15dc839e02da5cbb70be5fb",
        "kind": "daily",
        "period_end": "2026-09-18"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-22 05:57:30.836000 · correction <code>e0e246a980a10ab15ee24d170bc31b29b8eeb891e34c3c47491ec11fac676671</code> · hash <code>48cfdfae1323efbe6d8f9ca1180e3108f0c7fa88b2d25da6417f7029fc63fa66</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-21 01:56:32.522000 · correction <code>fdfb4dde6fb49f3e420e26ea793cfdbc14842902145cfda6d6816e42d0431a48</code> · hash <code>4cc68a99a713c2f554652a6e369a343f4773e0a20051dbe89a43102942990385</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45.522000 · correction <code>e4021c6c267b9d84248496a89c2ea2984ccf9e02f038e244bb517f6fa75335b9</code> · hash <code>a01a1dd058d15c437cc3d68af68caece6619075f3adccabcac0a2269dbccd2e7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>13955eb973ad2a60252e1343d967b96acd4081354c05006d815c3720fc58760e</code> · effective 2026-09-20 13:53:45.522000 · correction <code>34e33fe45a6f71559a3eb88c3e5537eff331a5de898c7a09ba7805e1dd4a3416</code> · hash <code>e763413e2002b6d3770a6f6c01d52e9bd710a628c99c47f85c3ccf337cd9ff39</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 27 (daily)</h1>\n<p>Period: 2026-09-18 → 2026-09-18</p>\n<p>Context hash: <code>1153d472c6814ca5cdee7b026646ccd56d3cba58d15dc839e02da5cbb70be5fb</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>23 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>90f1ad42-854c-5d89-a07a-dd9e8830b3a4</code> · 2026-09-18 04:22:05: This setup is withdrawn because its trigger was invalidated. Prior direction, capacity and market settlement remain historical evidence and must not enter current recommendations or performance denominators.</li>\n</ul>\n<p>Correction hash: <code>087759740e395f2f6f49003a405dc1aeebac64c9969f4afeaa1e7a0a1e4ae727</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6ff9aea9-156f-4102-a385-234e2baea52e</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>a439fb501ca2b1565c22dd4b1f985023fe9e462ce9b17b762c3a7d652386b37f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>fe4f1ca0a69d7ab8c3d966c685dcfbf8abdddc6302efdebd73e9486cc66fe42c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · 2026-09-18 04:22:05: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · 2026-09-18 04:22:05: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Correction hash: <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · 2026-09-18 04:22:05: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Correction hash: <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>B200 vs H100 rental price: ⊘ No read — frontier-vs-installed-base GPU rental pricing (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>GPU rental availability: ⊘ No read — GPU rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>GPU marketplace depth: ⊘ No read — GPU rental lessor pricing power (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Evidence revised; cause unclassified. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Evidence revised; cause unclassified. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>H100 spot rental price: ⊘ No read — H100 rental-provider pricing power (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Inference demand — OpenRouter: ⊘ No read — OpenRouter public-app inference activity (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Data-centre load premium: ◆ Mixed — excess PJM load growth attributable to data-centre buildout (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Dominion (N. Virginia) electricity demand: ▲ Bullish — Dominion-zone electricity demand as the ground-truth NoVA data-centre load read (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>PJM electricity demand: ◆ Mixed — PJM electricity demand (Near term); Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>BDCs vs investment-grade credit: ▲ Bullish — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Evidence eligibility changed. Published 2026-09-18T01:24:47.717338+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Source correction. Published 2026-09-18T02:48:36.163421+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Evidence revised; cause unclassified. Published 2026-09-18T02:48:36.163421+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Evidence revised; cause unclassified. Published 2026-09-18T02:48:36.163421+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Source correction. Published 2026-09-18T02:48:36.163421+00:00.</li>\n<li>BDCs vs investment-grade credit: ▲ Bullish — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-09-18T02:48:36.163421+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>B200 vs H100 rental price: ⊘ No read — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>GPU rental availability: ⊘ No read — GPU rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>GPU marketplace depth: ⊘ No read — GPU rental lessor pricing power (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>H100 spot rental price: ⊘ No read — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Inference demand — OpenRouter: ⊘ No read — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Inference demand concentration: ◆ Mixed — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Open-weights token share: ▼ Bearish — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Data-centre load premium: ◆ Mixed — excess PJM load growth attributable to data-centre buildout (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Dominion (N. Virginia) electricity demand: ▲ Bullish — Dominion-zone electricity demand as the ground-truth NoVA data-centre load read (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>PJM electricity demand: ◆ Mixed — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — near-term PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>BDCs vs investment-grade credit: ▲ Bullish — listed BDC pricing relative to investment-grade credit (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-09-18T04:30:35.108812+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Source correction. Published 2026-09-18T07:18:43.390229+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); Source correction. Published 2026-09-18T07:18:43.390229+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction. Published 2026-09-18T07:18:43.390229+00:00.</li>\n<li>BDCs vs investment-grade credit: ▲ Bullish — listed BDC pricing relative to investment-grade credit (Near term); Source correction. Published 2026-09-18T07:18:43.390229+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 51 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 29 usable / 22 no read — 11 bullish, 9 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-18 04:22:04</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Purchase obligations total:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>Inference demand — OpenRouter — ⊘ No read</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: fewer than seven snapshots so far</li>\n<li>data quality: a panel, not a census; public apps only; rolling 30-day window</li>\n</ul>\n<h3>Inference demand concentration — ◆ Mixed</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:07+00:00</li>\n<li>interpretation: Top-10 app concentration is inside its registered 14-day band.</li>\n<li>evidence: Fourteen-day concentration change: +1.31pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.3%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 1.3127925687154374, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.34888313881893, &#x27;top10_share_change_14d_pp&#x27;: 1.3127925687154374}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-16 / 2026-09-18 07:17:06+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 4 cuts, 4 raises.; Fixed-basket price at prior-day token weights: $0.698/Mtok.; Seven-day like-for-like change: +0.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.6419790588104934, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 329, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.6976795426565414, &#x27;like_for_like_change_7d_pct&#x27;: 0.6419790588104934, &#x27;price_cut_model_count&#x27;: 4, &#x27;price_raise_model_count&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:07+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: +1.72%.; Token-weighted effective price: $0.767/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.7203601925907863, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: 1.7203601925907863, &#x27;effective_price_usd_mtok&#x27;: 0.7668944025207813, &#x27;matched_model_count&#x27;: 328, &#x27;total_standard_tokens&#x27;: 115914611310333, &#x27;unmatched_token_share&#x27;: 1.333101054022385}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-16 06:25:42+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.8 listings/month.; Relative change: +84.9%.; Trailing three complete months: 104 new listings (34.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 84.88888888888889, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.75, &#x27;listing_rate_change_pct&#x27;: 84.88888888888889, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 104, &#x27;trailing_3mo_rate&#x27;: 34.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ▼ Bearish</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:07+00:00</li>\n<li>interpretation: The open-weights token share is rising through its band — substitution pressure on closed-model pricing power is building.</li>\n<li>evidence: Fourteen-day share change: +10.10pp.; Open-weights share of routed standard tokens: 66.9%.</li>\n<li>conflicting evidence: The Chinese-lab token share moved the opposite way over the same window (-1.67pp).</li>\n<li>What would change this call: The 14-day open-weights share change crosses the opposite 2-point band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 10.096696261060224, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 2.0, &#x27;chinese_lab_share_change_14d_pp&#x27;: -1.674780483616388, &#x27;chinese_lab_token_share&#x27;: 64.93942407353508, &#x27;matched_model_count&#x27;: 328, &#x27;openweights_share_change_14d_pp&#x27;: 10.096696261060224, &#x27;openweights_token_share&#x27;: 66.94749277225347}</li>\n</ul>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-16 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:13+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $42.98/MWh vs prior 14-day $53.61/MWh (-19.8%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -19.836727376879264, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 42.975473981092435, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 53.609929553571426, &#x27;caiso_da_trend_pct&#x27;: -19.836727376879264}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:13+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.82 MMBtu/MWh vs prior 14-day 18.73 (-20.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -20.871117222776935, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.818807833448272, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 18.727432150367484, &#x27;caiso_heat_rate_trend_pct&#x27;: -20.871117222776935, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ◆ Mixed</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:13+00:00</li>\n<li>interpretation: PJM load growth is tracking the CISO/ERCO controls within the registered band.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +11.55% vs control mean +11.32% (gap +0.23pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 0.2324854579231257, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 7.709872054956338, &#x27;dc_load_premium_pp&#x27;: 0.2324854579231257, &#x27;erco_load_yoy_7d_pct&#x27;: 14.920447241462286, &#x27;pjm_load_yoy_7d_pct&#x27;: 11.547645106132437}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:17:13+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +22.51% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 22.507498804916757, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 22.507498804916757, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 7.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.01%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.010753961591131, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -7.010753961591131, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CCJ.US&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;BWXT.US&#x27;, &#x27;URNM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 02:48:21.091000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6879d4fb4a56bcbd5ed695f3ecef57f708198c5ac2510eac831e21a3f89a6f50:7d753db6354996761dd20c9036b7c1f80cbf3089dbe4a7d0cc13109217ab3e68&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b38c1c6f3931bde692f7c4a5d3c51308d2bdc2e565efd82d46a106cb921695cb:4395501180ab1d12d8ce759c038ce29a99cdd4df2736cbb39196bea2541aa5c6&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: 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threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;z&#x27;, &#x27;value&#x27;: -0.9637207731812047, &#x27;window&#x27;: &#x27;weekday_baseline&#x27;}, &#x27;dc_load_anomaly_z&#x27;: -0.9637207731812047, &#x27;dc_load_growth_yoy&#x27;: 14.536809962930858}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 5.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.88%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Up 6.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 6.11%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 6.110644228990991, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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&#x27;aib_bronze.equity_ohlcv:537415a99f4ae393aa5870aee4b55b4ff92847b373b11e50a82fc2304bf47801:b4cdfc2aebceae9c6f60c5dd717dc86c96ac1e965d4f34e92952bc87b58e9fc0&#x27;, &#x27;aib_bronze.equity_ohlcv:76a14ce87ee33a7f8715f48f143e8fd6042a07057e90284722d0ecec875a6056:fe953900b8ee07ca99fb9aaaf69f441f04da263d57e91d9fd57f74edaeba0dac&#x27;, &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;aib_bronze.equity_ohlcv:b0127d300c00a1a8c9eb321ecd0776c6849ed6148c27be97795e73c3a4387447:7cf1686effc77a2038ea36b2a5e173d40048484bd4384e65038cfda34ae93025&#x27;, 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 9.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -9.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -9.003812042297055, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -9.003812042297055, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 01:24:33.597000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:af89cad6db231c8823bf5997662a830659abd27c71282cb9927e29aa50052bc6:fcb4ca8b74ea15d479ec2f99c7e6fe76910338d2089d380bfe9dad061513814c&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:da63ff180ebbb742d32e18eee7735b147f986d33536b73d1955bd3584b2aaf65:dee7599c0dbd19ee6b8f7c0957323bc07b595e666117fd24911faba1ae0fd56a&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1b8e4a379b7f08b69e638832832143962156138975a6d07839aafb96fdd0fdd8:e660e5db1515db4683f6808d40c8465fb477e6f6df843c43a455a99394869a71&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:26d33013cc6d92d77758468c4bd2f28de61f7b3b51031014cb08a7e7164de59e:c54689f7d3c82418d98647050ae39a16f29624a3e5b7015606532e1093d65d5b&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:102e758caa0d0a785adf968ea716f399d0e6b0ca671d025d8d32edc616a03d3d:8896bd22cbf3863c0f2d15891e57d63f54f659b442779988720df6ff58ea31b6&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:04b8064119ac6026b4309dbed7816bac8792eb48d729a7d84f4a47a9ef3122d5:a3ec925246feddab495c351d718a1ce39d1426dafb865b1d8290cfdedff7b738&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b10c446350d22e4c98a0c9ff03b484f2c4651fab3abcede851488aee9d17c2db:68fd76cfb161c5db3e049d280ef8dd27bc93836dd2a62d4aaaf67eccbf9ed4bd&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:04b8064119ac6026b4309dbed7816bac8792eb48d729a7d84f4a47a9ef3122d5:a3ec925246feddab495c351d718a1ce39d1426dafb865b1d8290cfdedff7b738&#x27;, &#x27;aib_bronze.equity_ohlcv:102e758caa0d0a785adf968ea716f399d0e6b0ca671d025d8d32edc616a03d3d:8896bd22cbf3863c0f2d15891e57d63f54f659b442779988720df6ff58ea31b6&#x27;, &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, 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&#x27;aib_bronze.equity_ohlcv:74c41dd69f02dd4b51b59ed40eebdd88ea4dc6b08a2bfc27a4140333338fe44c:c642fe5ffb1003edc509d520375f5ffaae14eaefd78d7df6f806a3ea98bf36eb&#x27;, &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;aib_bronze.equity_ohlcv:989e968423dc9039a50359cc0c9eab6779c28bb4f4cf9cef6bbd369f614bc87d:f819961bb68c4011de4bf4cf792933daaf482f63535d29fd3720ebc6b140042d&#x27;, &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;aib_bronze.equity_ohlcv:af89cad6db231c8823bf5997662a830659abd27c71282cb9927e29aa50052bc6:fcb4ca8b74ea15d479ec2f99c7e6fe76910338d2089d380bfe9dad061513814c&#x27;, &#x27;aib_bronze.equity_ohlcv:b10c446350d22e4c98a0c9ff03b484f2c4651fab3abcede851488aee9d17c2db:68fd76cfb161c5db3e049d280ef8dd27bc93836dd2a62d4aaaf67eccbf9ed4bd&#x27;, &#x27;aib_bronze.equity_ohlcv:da63ff180ebbb742d32e18eee7735b147f986d33536b73d1955bd3584b2aaf65:dee7599c0dbd19ee6b8f7c0957323bc07b595e666117fd24911faba1ae0fd56a&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 112.98899045453274}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 5.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -5.190245489125722, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -5.190245489125722, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;VST.US&#x27;, &#x27;CEG.US&#x27;, &#x27;TLN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;ETN.US&#x27;, &#x27;PWR.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 02:48:21.091000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7151b586d1e05933a36dc49c4bac72dd4b7092dc6b977981f1c38c3851007b15:361e48d2d06da9c0da8f3656d12edabf7c95ad23ea2fa11e2f3a0180ee4ccd25&#x27;, &#x27;symbol&#x27;: &#x27;CEG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a795149e9624690041a7a0a0baf1e3780832e54dcdff4f7e5438db5b38f49ac8:68c5e164bf0d94191d30d2fff46259c38edb6af5198fa3d950d86e487a3ea12b&#x27;, &#x27;symbol&#x27;: &#x27;ETN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a841149c69db1f61563a39959faab6e894900fa1024b7d10d857b08a061b1757:e0e2f3e3a2eae36d165279089b6e491112a255d1454619940c5ce3a48f267979&#x27;, &#x27;symbol&#x27;: &#x27;GEV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:df80210e6cdb6ebb03055177ebf4139a2c475d032250b911c7519e094f94efc7:faa7c8e71e7f37f640f95334a8d2e617f5ed1420b3e5c3705b0869122df2b86c&#x27;, &#x27;symbol&#x27;: &#x27;PWR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:10c2c66072c9d154791bcc9ece85b948bd5e80435e92d76f86e4ae56a65d9e03:00b358fc93f0cc42a07daa61af86f152399bec23913d08ed1685da4584ce9634&#x27;, &#x27;symbol&#x27;: &#x27;ETN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5014d8f2c9e199e8ad5cdf73f48b67e8167214270bf2d18b5d02ee093f72a48:8f54a9f3044247e91361851694f934cfe13d510e65a0a06fc24539101334b994&#x27;, &#x27;symbol&#x27;: &#x27;GEV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c1431935ac57b984b990392c34c8f13be17e153c4dfcb05db6ba03353f08e8a3:a7cb8b0e15cf33b364ce669baae85f861c1473a7637427fcd64d76b2747850b5&#x27;, &#x27;symbol&#x27;: &#x27;PWR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:27ee939a83a6404846ad49db3170c4b53c9171ed4a5f28bb8bf192a82d958906:a17afd4092380b6fed6a5bc4c395005ab082ecafc9e89874d824e98b89253f61&#x27;, &#x27;symbol&#x27;: &#x27;TLN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1c91fba7ea84381c1b6206b0b432174c92a9f0b97cd78488302db8a8528b83de:acf7480b61328169d7817494ee0e0b5937f2a4518cf3d5f9243b66207475f734&#x27;, &#x27;symbol&#x27;: &#x27;VST.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a77006775c33dfac989ad7700e5897608db29c2cdb89450a9c35787089ccf0d4:4cd20ee7eeee530b29e0fb05a78bb104db562b70e1821f93d3090eb9bc77a78b&#x27;, &#x27;symbol&#x27;: &#x27;CEG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;PWR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:348b5192eebea6dd8ffae2e6d761a091290d23457928b92947f209eaa76cf9d4:f053fcbef9742125116f424706aa56859d9514e99f9c0abc1df70b6794687658&#x27;, &#x27;symbol&#x27;: &#x27;TLN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5e8a0caaffccae722ba0460e5dc20d4d66024922c94808e036a1f08d6050b606:e744d8f31bf91bf5810b47187281ec59cd843decea6fb946ac71e2b24962979b&#x27;, &#x27;symbol&#x27;: &#x27;VST.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:10c2c66072c9d154791bcc9ece85b948bd5e80435e92d76f86e4ae56a65d9e03:00b358fc93f0cc42a07daa61af86f152399bec23913d08ed1685da4584ce9634&#x27;, 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&#x27;aib_bronze.equity_ohlcv:a841149c69db1f61563a39959faab6e894900fa1024b7d10d857b08a061b1757:e0e2f3e3a2eae36d165279089b6e491112a255d1454619940c5ce3a48f267979&#x27;, &#x27;aib_bronze.equity_ohlcv:c1431935ac57b984b990392c34c8f13be17e153c4dfcb05db6ba03353f08e8a3:a7cb8b0e15cf33b364ce669baae85f861c1473a7637427fcd64d76b2747850b5&#x27;, &#x27;aib_bronze.equity_ohlcv:df80210e6cdb6ebb03055177ebf4139a2c475d032250b911c7519e094f94efc7:faa7c8e71e7f37f640f95334a8d2e617f5ed1420b3e5c3705b0869122df2b86c&#x27;, &#x27;aib_bronze.equity_ohlcv:ebaa65b25ddaf5f82933d1efdd196ef9d08025d54b4a84b89970341f7cfde259:39a9eec1f01807a63bdf70fa671c52ad2567b02294a0c7b9ea714435c36a02a1&#x27;, &#x27;aib_bronze.equity_ohlcv:f5014d8f2c9e199e8ad5cdf73f48b67e8167214270bf2d18b5d02ee093f72a48:8f54a9f3044247e91361851694f934cfe13d510e65a0a06fc24539101334b994&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 97.95445341809629}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.59%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.5929763546291285, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.5929763546291285, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;SOX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 07:18:29.108000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:97b8dd679853c5d88ca48ce9cb8fa7bdb8a831659d8f979d9e02e6d867d8407d:8f1935fbc8fed251bfd29928b0327b03154fb6ce552f9e6a05f9cd76761cc456&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:13b387681a6281daa321bdde43d3e8b06f8d0c6e20bb491d287a6f0481d36e38:d8bea3508cf92537d9daec917bba2afadce7e8c2a823ae0644316dc75c473344&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:13b387681a6281daa321bdde43d3e8b06f8d0c6e20bb491d287a6f0481d36e38:d8bea3508cf92537d9daec917bba2afadce7e8c2a823ae0644316dc75c473344&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;aib_bronze.equity_ohlcv:97b8dd679853c5d88ca48ce9cb8fa7bdb8a831659d8f979d9e02e6d867d8407d:8f1935fbc8fed251bfd29928b0327b03154fb6ce552f9e6a05f9cd76761cc456&#x27;, &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 130.24960406806875}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.19439532915901392, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.19439532915901392, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 01:24:33.597000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6c88af3a04396192be56871a91a5d77b2cb2bb17ccf8e49026131c22da54ec19:188caf34df23e0f798e8d8d09dbdf78995d66e21a2a626b760837ca3f8960f5e&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:4a6c2eec89ef6f3f0e309bd7412f2fef9a4f79e4b855d5c42c3699bed3bf6a32:e690aaa9a6b6aa075081acccbe5ac0753d4d5fdf8784c129ad6af96d410cdb24&#x27;, &#x27;aib_bronze.equity_ohlcv:5befb2474ce3326272694819a58b9cf26f574922b1a6896ba6422a88606ec8ac:4e02f3876029830dbd64fd976d71ca8dab3a4a23045bb832d48606dced81e65a&#x27;, &#x27;aib_bronze.equity_ohlcv:6c88af3a04396192be56871a91a5d77b2cb2bb17ccf8e49026131c22da54ec19:188caf34df23e0f798e8d8d09dbdf78995d66e21a2a626b760837ca3f8960f5e&#x27;, &#x27;aib_bronze.equity_ohlcv:adf1f3035103a65c5acc2cffa984cf332dfe2a051bc1af5e88e9ae24416f1646:b5a3d081f86ac01875354c9430def741db7780512b5a5dca370ff3128b423c5f&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 99.37019977311111}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.237.; Two-year own-history percentile: 35.9.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 35.947712418300654, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23732827265460207, &#x27;pair_count&#x27;: 17205, &#x27;symbol_count&#x27;: 186}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.25%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.2508509732456532, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, 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[&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:6d922cdc4d1caecd2c4e9403d176ecaceaf148436acb29b26d83085d2ab19a78&#x27;, &#x27;aib_bronze.equity_ohlcv:38f153cacb8bb956fb979ac651c5c93f199afbfbbfc58ae3cb2068b20aec2ec4:092b1cc3b8ef5bbaa63ac2d912567ecc831999f9ac2d73ad0eed946f6297edc3&#x27;, &#x27;aib_bronze.equity_ohlcv:3c288db1e6534f0f585ef1ce7083e18b931bd0366d03c8db76d4d918361036fe:ccfcbf5024120c3c89bf257e40cbf37c28ccd41111d0e3734b872804b10ad8bb&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:0c2630e2d0fcb9f5991d51a09a4a84378294a4a632d5453c8f26339cb5f6023a&#x27;, &#x27;aib_bronze.equity_ohlcv:7cd748eeddd6b949d365873309c4b3a5aa70f4d0bb2b258f461966b0171e290e:4f1af9cc0a4deeee4a73c1f5175fbf3f07555a7c94f708243150ffe266fcbf95&#x27;, &#x27;aib_bronze.equity_ohlcv:f46f13ba647e1a36d9cf443d1eeb823371b5a72f98e1ec6410fea1de08a4c9dc:38b3f6edd6e016bbe5469a8240945cdd59e644183d28c738287a41421ac15b4c&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 102.66517174303466}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 2.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -2.262115136223697, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -2.262115136223697, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 01:24:33.597000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:87644ae2bf47494d20a96369d3cc38367803e401d7482b2932a64fa3a6ca6f6e:6bb0c96e7ed7decfcd5adf7afb73e46f68ab18d4f6d9e9460b0b1f1cf814c0d1&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b65c31e51a6fdd9c026b8af07ece70336b797397e6c77ca5b8cd5002bab02676:fc70606021325cd20686df34c89dabce5e2c54363eb8c2d6f82d7c5c9e9bf2f1&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a37bec7dfeef06fc2c8f7a1c2ebbaf7b21f460f5277ce804d6cdaaec6a2ce615:b43b0dd979e699b94f8ffc356d7aa3b108beff8abbec32ee9970680e8240cfd2&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:61f4b2b0cb94afacd673b7b32f84dcfcb2040db80bb5c6c3cedd7ddbae2468d2:67c1150205c9517a1c4c88973a3be901490c04c797389c37b7e9630605baf126&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:ac5a2375b3ac1f2d27778cb73903addba59f958dbd17490a5a3121a158deea19&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: 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&#x27;aib_bronze.equity_ohlcv:b65c31e51a6fdd9c026b8af07ece70336b797397e6c77ca5b8cd5002bab02676:fc70606021325cd20686df34c89dabce5e2c54363eb8c2d6f82d7c5c9e9bf2f1&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 98.66082239724525}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.56%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: 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&#x27;aib_bronze.equity_ohlcv:e11f2ae31c7864423a7bcf9458aae41eea046e34e5e50dcbfbec4e40db7f0ebe:a8bbf26534bdd12fc5c3b6247fa55e622c7662faef5d42c0750413d7d49dda3d&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 104.50174423190006}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Down 4.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.62%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.62347249162195, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.62347249162195, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 01:24:33.597000+00:00&#x27;, &#x27;inputs&#x27;: 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&#x27;aib_bronze.equity_ohlcv:e89f552662617dee89ce5db25257ee317dd06a458c408b1f920a4f61cc9c531f:fa76525f4ea23d3be034f9ccdccddd794a22d5c6c64b4d2a0e48680ef9e40973&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 90.54803072674716}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Front VIX at 0.83× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.832.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-18&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-09-18 01:24:33.597000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2289c39291c9fa7e4603a2533c47c0e3297e6321a7a42515ad1d3e9a1544cf4a:5bdd009f85ca35b5ec0c11e4e17acc01c755abde03a73eeb7605019583cf6ac6&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-18&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e0cc62871b530b46f72baae93d55f0328f9f5d4395965d166f49beacb068294a:2b8589b28ebbb86d1cad2d179b5e2a04974c485ab3a4b4db080c8d22d514fca8&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b8f4be23ef3d6041fd7a637ed4f1dfd65051b8d854141bf4930e087fc123f445:2e0afc7be66174ca1f557e7684721d0e046d60a0e3840c35a14d5479251df114&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-17&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:10a4f1a963790caf21e1a9ca0f2ca8c8eca4985492b3a7e3449d77da48add119:c6829b9b8604bd001536af64291e6cd199ed23bc1e6e293e8f30e8128d78914e&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_only&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: 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<code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-17 / 2026-09-18 07:18:28+00:00</li>\n<li>interpretation: Up 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.220082393057776, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 2.220082393057776, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-16 / 2026-09-16 21:04:32+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,039B (conditional on an IPO), -14.32% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $2,387.; Probability-weighted bucket midpoint: $1,039B.; Seven-day implied-cap change: -14.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -14.315402117575548, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0405, &#x27;full_set_prob_sum&#x27;: 0.996, &#x27;implied_cap_change_7d_pct&#x27;: -14.315402117575548, &#x27;implied_cap_usd_b&#x27;: 1038.5802469135801, &#x27;ipo_by_2026_prob&#x27;: 0.048, &#x27;no_ipo_by_2026_prob&#x27;: 0.9555, &#x27;volume_24h_total&#x27;: 2387.467}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-17</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-17</td><td class=\"num\">137,479</td><td class=\"num\">24</td><td class=\"num\">-1.626</td><td class=\"num\">-4.055</td></tr>\n<tr><td>CISO</td><td>2026-09-17</td><td class=\"num\">700,668</td><td class=\"num\">24</td><td class=\"num\">-1.344</td><td class=\"num\">-8.735</td></tr>\n<tr><td>ERCO</td><td>2026-09-17</td><td class=\"num\">1,715,891</td><td class=\"num\">24</td><td class=\"num\">-0.9647</td><td class=\"num\">13.63</td></tr>\n<tr><td>PJM</td><td>2026-09-17</td><td class=\"num\">2,629,433</td><td class=\"num\">24</td><td class=\"num\">-0.9637</td><td class=\"num\">14.54</td></tr>\n<tr><td>SOCO</td><td>2026-09-17</td><td class=\"num\">766,095</td><td class=\"num\">24</td><td class=\"num\">-0.7417</td><td class=\"num\">11.25</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">40.39</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">36.18</td><td class=\"num\">0</td><td class=\"num\">-4.216</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">36.01</td><td class=\"num\">0</td><td class=\"num\">-4.384</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.802</li>\n<li>as of: 2026-09-16</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.4082</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-17</td><td class=\"num\">31.15</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-9.184</td><td class=\"num\">-0.8549</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>255 benchmarked model identities; 200 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 970,505,253,473</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 770,629,007,352</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.8</td><td>$10 / $50</td><td>≥ 2,116,261,286,010</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.7</td><td>$5 / $25</td><td class=\"num\">6,204,928,962,001</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 478,785,271,192</td></tr>\n<tr><td>GPT-5.6 Sol (max)</td><td class=\"num\">47.1</td><td>$2 / $10</td><td class=\"num\">7,621,606,223,514</td></tr>\n<tr><td>Qwen3.8 Max (0902)</td><td class=\"num\">45.4</td><td>$2 / $6</td><td>≥ 653,530,515,321</td></tr>\n<tr><td>GLM-5.3 (max)</td><td class=\"num\">44.9</td><td>$1.4 / $4.4</td><td class=\"num\">9,091,735,491,495</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 102 eligible configurations.</p>\n<p>Usage window: 2026-08-19 → 2026-09-17. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-09-18 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;d09730f8c9b00b3f1dcd9dccc9781ac4cbf53b4e819a5df371c9c351f62727af&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;b8c0ad36f63c7295c4bd99a74f77eaa834686bf7f76483210c17435d98f671dc&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;99b54f683828e9e49d6132422f1194b6ba44d3071803a05bb41c423b4f529e48&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-18 02:47:08&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-18 02:47:09&quot;, &quot;record_count&quot;: 1525, &quot;records_hash&quot;: &quot;30413d5729f9fe94902a40b9faa21e672dcb25e9784f08ffdbed771a1497592e&quot;, &quot;snapshot_id&quot;: &quot;405bdea82d98041f54553617db734d42fe5d2b85a69e4a7cf3071193f931dd51&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;ef07bce10e90b34b533c1281fa0628d0b4029dcb396355d09cff1caf4670aa19&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;f1e02f27557abe07fe4d400e0a84b6b569978f45681264232971d61be434e0b4&quot;, &quot;9976cfe65214cde755a727388f93088197b5b5e2cf3d916a739ce446a5d24db0&quot;, &quot;c702fa817ddaadb64c8825e62c09d53e04a38c27c49c7e4b5f4a185b976fd424&quot;, &quot;22c8eb3192d6cd103564fb62aac00bc4c58d608ea2021b7787a0ad4b15d46e69&quot;, &quot;3e010afa5f1e5fad902a1ab9ce4c01bf3bbad9d0a4060b0d6ae8badae4865f8c&quot;, &quot;f8736b7b4f43147883b1243ae272df977926cf7fff0e977a24f87752d46f72ab&quot;, &quot;85b8f5a0dc40109cee5fabd3d9b6aecf5b019a9b8510999f9d22a0ac9c4f822e&quot;, &quot;34b1fbfc6d48b49db265418a1d4f34d4b122945235d9876b82bf36f27e0e9720&quot;, &quot;bcb0a83064de7fa0ce25445969e4a406b046d6360fda7b34d58921eba14bea83&quot;, &quot;8d9578564e56b4456ce03c91817543c7694ebef7a310b4c51f1d28e3a7bf749f&quot;, &quot;4cb7cd97175214c94e1b14fed27ec53d73924c57dc2f2ac4e9bf3b9559410356&quot;, &quot;8571ee2efcdba7737de15dd207746a5c031b97718965438479b2e3c8fbdcf4f8&quot;, &quot;f4c0f107885e4435cc3ecca2077e8276317d2e04787d91f117c064aa16ad9f7d&quot;, &quot;27d7d3c531c8d77ee1b6a8de7ebece8f9780704cab654fcd0bb9be3bb4157749&quot;, &quot;09fb428c0b93dd9f35ae93f24b0ee04000e70bd63bb3f9eb5a826f585a11caf9&quot;, &quot;95a1be7dad863d2cd56cc0ccf25599951b46487cf2804f4284697e40e716f71e&quot;, &quot;6609d4561ddb3eafcfcf368fac00faac18b8c23b5e362deab7fda5a64dba88c7&quot;, &quot;56098a6cdee94675f4816eb72331c0ed7f012e7ad92fabf3ceab200e9fec3ea4&quot;, &quot;149d7b77c09a41914ca41f423850d3c663ec1c37eef47ebb9815f50b376091d1&quot;, &quot;0e621e4d729dbc3456f5dac5484bcb27aff6522b0dbc666d80dcba5d6d8fa554&quot;, &quot;779badac493d52db51d73e8b14a1b843368e1e3312a33d7d640712abd6573f33&quot;, &quot;b86c288dbf24685b5026af8a0f1f0590f20804d2368f4b3e0a0161dcda11247b&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-09-18 07:17:15&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-18 07:17:16&quot;, &quot;record_count&quot;: 740, &quot;records_hash&quot;: &quot;6f87df7438c926398a80139a137f915e8b1856fc45bff75c2bcda1e46cf3f62b&quot;, &quot;snapshot_id&quot;: &quot;5ba0675cff8dc680dabf9bfe520c4a7ec00d754d035172b7b277e2f3116dda95&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;9e80f37ca35d296a9331eb1423ebd90535535257d48991db643857affa77d122&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;1f57cc32b37e042f3d077987d7961e5e03963b0c1ca7b0a58832167757539734&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-18 07:17:10&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-18 07:17:13&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;dbdfc0f1f1b32e9763f63010dd76a53b1b94afb29ec494fb70bad4fc0f046df8&quot;, &quot;snapshot_id&quot;: &quot;3610da7bf768bd6c48baef8ac8aa7cf31150eb3a9646b0ca6c16c59589d06f2d&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;60aa7a381b314f00c03b493f388d98dbb4b2eced918a7097b980ed8e19635e3b&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;fde7f66ff48e137d8ee881db418f9b5632c0ba6fe9e85949bfc6f1c256ccf737&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-09-18 07:17:11&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-18 07:17:12&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;9bbeac65639f47ab2733e70c57bd1a992142cc2aca7f6def4b6e9963dead28d0&quot;, &quot;snapshot_id&quot;: &quot;b9af221679aa2ccadeeaf825bb88403b93cbb22f96bd0da725ffb7adb2a85e9f&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Lease commitment uncommenced</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>uncommenced_leases</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Purchase obligations total</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>purchase_obligations</td><td>prexel-automated-taxonomy-correction/mission-claim-repair-2026-09-18-v1</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Lease commitment uncommenced</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Purchase obligations total</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate. Original review rationale: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-18 18:35:22</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:20:26</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:12</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">274</td><td>2026-09-18 23:47:42</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-18 23:31:46</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3389</td><td>2026-09-18 07:18:31</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">5839</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">191</td><td>2026-09-18 18:14:48</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-18 23:43:37</td><td>—</td><td>partial: PJM: gridstatus PJM DA fetch failed: HTTPSConnectionPool(host=&#x27;api.pjm.com&#x27;, port=443): Max retries exceeded with url: /api/v1/da_hrl_lmps?fields=congestion_price_da%2Cdatetime_beginning_ept%</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 04:28:56</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">445</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">567</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">740</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">29</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-18 05:10:07</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-09-18 07:17:05</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-19T05:10:12Z",
      "id": "urn:prexel:issue:12a77d25-959b-508d-a0af-7945ecdc0373",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 27 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-18-daily-13955eb973ad.html"
    },
    {
      "_prexel": {
        "content_hash": "1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb",
        "context_hash": "82f90129d98cbab3742b86c159932365c06a30cefe9cfefe82c3fc09f844a2d7",
        "kind": "daily",
        "period_end": "2026-09-17"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-22 05:57:30.836000 · correction <code>e1658e612283215fe0739231cce0b28592c503f663057bd8fd936a290acfeab2</code> · hash <code>40ec6ecb040fc62e417fa65fd7c2dc52a7690e7a50c7c1a690b62db260dbbd05</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-21 01:56:32.522000 · correction <code>7802f07941e53b881a17196da3a7eb2610e6449ca64dd77d6ab0d8ee5e041a82</code> · hash <code>9e77b2cf94531593e029fab52055a220fe6c681406376f28ff66e9d7fc4fb8f2</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45.522000 · correction <code>c647b41c7a7077b4186b4677f4bca34cb2e1637fab0913a55b979bd97b7484c8</code> · hash <code>96a63bee6c9af16816e7920f3863f332a5f306048f836e89684ecc3fd8441c99</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1f6808e5b2f6539525d3f4f3d88d079b4b47b2b56f83b942aab659551e746cfb</code> · effective 2026-09-20 13:53:45.522000 · correction <code>8e50958063421729ab2f35b5bc442ed83ed47811b8f86e72bc7e055ceb87c717</code> · hash <code>2eb8594b502e797cf2df5dc13d31209aa007b67788d4a4f60bc0c5563f8760e4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 26 (daily)</h1>\n<p>Period: 2026-09-17 → 2026-09-17</p>\n<p>Context hash: <code>82f90129d98cbab3742b86c159932365c06a30cefe9cfefe82c3fc09f844a2d7</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>23 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 11 bullish, 13 bearish, 8 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity; withdrawn rows are excluded from hit/miss denominators)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>withdrawn</td><td>2026-09-15 04:06:58</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · Capex commitment:</strong> 329100000000.00 USD; disclosed 2026-07-29; as of 2026-06-30.</li>\n<li><strong>NVIDIA · Capex commitment:</strong> 366000000000.00 USD; disclosed 2026-08-26; as of 2026-07-26.</li>\n<li><strong>NVIDIA · Debt issuance:</strong> 25000000000.00 USD; disclosed 2026-06-15; as of 2026-06-18.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:23:59+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.6992621183584458; b200_h100_ratio_change_14d_pct=0.12780445272091004; b200_offered_usd_hr=7.563932291666667; band_measured_pct=12.780445272091004; band_pct=5.0; h100_spot_usd_hr=2.8022222222222224</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.6992621183584458, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.12780445272091004, &#x27;b200_offered_usd_hr&#x27;: 7.563932291666667, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 12.780445272091004, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 12.780445272091004, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222224}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:23:59+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:23:59+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=0.2422360248447205; h100_depth_smoothed_3d=50.0; h100_dispersion_smoothed_3d=1.8011771238200993; h100_price_change_14d_pct=0.050395668888686185</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.2422360248447205, &#x27;h100_depth_smoothed_3d&#x27;: 50.0, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.8011771238200993, &#x27;h100_price_change_14d_pct&#x27;: 0.050395668888686185}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:23:59+00:00</li>\n<li>interpretation: H100 spot rental prices are firming.</li>\n<li>evidence: band_measured_pct=40.81518637150953; band_pct=8.0; h100_spot_usd_hr=2.8022222222222224; spot_trend_30d_pct=0.4081518637150953</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 40.81518637150953, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 40.81518637150953, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222224, &#x27;spot_trend_30d_pct&#x27;: 0.4081518637150953}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:25:43+00:00</li>\n<li>interpretation: Up 10.3% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 10.30%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.302392588184661, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 10.302392588184661, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2538705400, &#x27;total_tokens&#x27;: 159803410478258}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:25:43+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.04pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.6%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 2.0385851576824052, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.57587026851833, &#x27;top10_share_change_14d_pp&#x27;: 2.0385851576824052}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:25:43+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 18 cuts, 14 raises.; Fixed-basket price at prior-day token weights: $0.710/Mtok.; Seven-day like-for-like change: +1.30%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.2998401669533255, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 329, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7096969949310115, &#x27;like_for_like_change_7d_pct&#x27;: 1.2998401669533255, &#x27;price_cut_model_count&#x27;: 18, &#x27;price_raise_model_count&#x27;: 14}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:25:43+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -6.82%.; Token-weighted effective price: $0.702/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.824698131433027, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -6.824698131433027, &#x27;effective_price_usd_mtok&#x27;: 0.702471140692961, &#x27;matched_model_count&#x27;: 331, &#x27;total_standard_tokens&#x27;: 115197111294252, &#x27;unmatched_token_share&#x27;: 0.5249099659456233}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-15 07:35:40+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.8 listings/month.; Relative change: +84.9%.; Trailing three complete months: 104 new listings (34.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 84.88888888888889, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.75, &#x27;listing_rate_change_pct&#x27;: 84.88888888888889, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 104, &#x27;trailing_3mo_rate&#x27;: 34.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Open-weights models carry 66.1% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-14 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: revised in bronze; source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:26:11+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $69.30/MWh vs prior 14-day $46.67/MWh (+48.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 48.48982096772324, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 69.30370906442576, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 46.67236354166666, &#x27;caiso_da_trend_pct&#x27;: 48.48982096772324}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ⊘ No read</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough heat-rate history yet</li>\n<li>data quality: Henry Hub gas proxy, not local basis; secondary AI region — proxy read</li>\n</ul>\n<h3>Data-centre load premium — ▼ Bearish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:26:11+00:00</li>\n<li>interpretation: PJM load growth is materially lagging the CISO/ERCO controls — no excess growth attributable to data-centre buildout.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +15.30% vs control mean +18.97% (gap -3.68pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -3.675187575795272, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 21.47434044915986, &#x27;dc_load_premium_pp&#x27;: -3.675187575795272, &#x27;erco_load_yoy_7d_pct&#x27;: 16.4748521028577, &#x27;pjm_load_yoy_7d_pct&#x27;: 15.29940870021351}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:26:11+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +26.31% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 26.312695406389935, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 26.312695406389935, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 12.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -12.05%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -12.05458591642361, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -12.05458591642361, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CCJ.US&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;BWXT.US&#x27;, &#x27;URNM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1c4ec19adc83587e8de98474eae8d2706fcba9db7f3c64dd8efa28468a1b56f1:429cd9477b880352a0835626d1be62a9800f9cf1bc8272f2ad81201ef05ecd19&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:84c3384a1cf6621d5ca8fb482d438803d6676fedff7d0b667ddff8826d389675:c1447d5a0983e99b2e6a2b5c2e84ca3ab57880bc7d701c992154a398af2c5f74&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: 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threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;z&#x27;, &#x27;value&#x27;: -1.3530529824070596, &#x27;window&#x27;: &#x27;weekday_baseline&#x27;}, &#x27;dc_load_anomaly_z&#x27;: -1.3530529824070596, &#x27;dc_load_growth_yoy&#x27;: 1.0420611019297394}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 8.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -8.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Up 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.5496366928878578, &#x27;window&#x27;: &#x27;change_30d&#x27;}, 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&#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;aib_bronze.equity_ohlcv:5ce0baf40718136c7f57157f094bcb508e2184973a32222dbe8f2636c94f3cff:c5f69a014867df5f1d8099dce9a650e5255f513e24cba6453479fee44d81addb&#x27;, &#x27;aib_bronze.equity_ohlcv:71311d00e4064c624cecce8e005881fd69a9adba612af30603239d8a1b348f9d:dcf929b00dc2214835e33569e71df9a7ddd8496ffb6d6223d4de712753910b8a&#x27;, &#x27;aib_bronze.equity_ohlcv:8c7d2e5979a9802f3a4dc6359086f4d2c628cc1e0c496ee03bfdfbfe2c015835:5d10495c4979e5555363c273dca9d0a742a685002c097dd941ac31dc52c7ec06&#x27;, &#x27;aib_bronze.equity_ohlcv:95eb9a454315ddb7146bab4dd2323cd189eeee0c2bc4e9c0ac041753fbe9d9dd:ce0ad1c71e80eee2a497a9794929c09829df7a669d763da9db5f8e108e3afc17&#x27;, 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 20.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -20.08%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -20.08400389527415, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -20.08400389527415, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8723337291fc8e7a318055a40b79a637b73f2bdfdefa1c8748c9050205f3d456:5b61c06973dfc9335caa7402fd680ded7df42fa4cbc7d3701231c08c0df05930&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2b82fba044ef068d29d2f43fc560243f18c8b665bad7acc9574d1577c5cad99f:bc6f2aa7887ced449c92c889f35e2d71ec0ab5155c4b4990d3dafcec976a6b93&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0fdb2a8ea411b90c0fd8db4a9a38ae2673792dbc0c7f44df885c500b6633b215:e4afea9fd81dd9ec660bf837333c52ba29848a49cd23b6aa44214cd2fd5b40af&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0ef353e2ab0a049825e2db3a3ee4515118f9113f5cf7c0895de4fdb85b0542f8:cf3ce31233ae18ad1db3249324df55750df5504998298052d2d3234ce33fddef&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:80245dbcf754e258f0dde7164955696cb5fabefb1a69b9af996d69f5fc80be73:a1549d8b3b1517f0080e98d3b9a873433a58292c3ce340b477603268ec4d23e8&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:eaee06d03eef49ed17df215fce5a27d93215da89eb2a9e364e6bd1c86df12a06:a9a6e562d8f8797dbb6ef9e4e5994810970af33bc36e32c117093fa36602c448&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b10c446350d22e4c98a0c9ff03b484f2c4651fab3abcede851488aee9d17c2db:68fd76cfb161c5db3e049d280ef8dd27bc93836dd2a62d4aaaf67eccbf9ed4bd&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0ef353e2ab0a049825e2db3a3ee4515118f9113f5cf7c0895de4fdb85b0542f8:cf3ce31233ae18ad1db3249324df55750df5504998298052d2d3234ce33fddef&#x27;, &#x27;aib_bronze.equity_ohlcv:0fdb2a8ea411b90c0fd8db4a9a38ae2673792dbc0c7f44df885c500b6633b215:e4afea9fd81dd9ec660bf837333c52ba29848a49cd23b6aa44214cd2fd5b40af&#x27;, &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, 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&#x27;aib_bronze.equity_ohlcv:80245dbcf754e258f0dde7164955696cb5fabefb1a69b9af996d69f5fc80be73:a1549d8b3b1517f0080e98d3b9a873433a58292c3ce340b477603268ec4d23e8&#x27;, &#x27;aib_bronze.equity_ohlcv:8723337291fc8e7a318055a40b79a637b73f2bdfdefa1c8748c9050205f3d456:5b61c06973dfc9335caa7402fd680ded7df42fa4cbc7d3701231c08c0df05930&#x27;, &#x27;aib_bronze.equity_ohlcv:989e968423dc9039a50359cc0c9eab6779c28bb4f4cf9cef6bbd369f614bc87d:f819961bb68c4011de4bf4cf792933daaf482f63535d29fd3720ebc6b140042d&#x27;, &#x27;aib_bronze.equity_ohlcv:b10c446350d22e4c98a0c9ff03b484f2c4651fab3abcede851488aee9d17c2db:68fd76cfb161c5db3e049d280ef8dd27bc93836dd2a62d4aaaf67eccbf9ed4bd&#x27;, &#x27;aib_bronze.equity_ohlcv:e599aa9792a75c0354289c185cbec30e6e96ddd992f2baf123f6dac704a77b2c:cedee46d28916b99169eb9b5841c8a77330008097bc7df4689d24997dce49f49&#x27;, &#x27;aib_bronze.equity_ohlcv:eaee06d03eef49ed17df215fce5a27d93215da89eb2a9e364e6bd1c86df12a06:a9a6e562d8f8797dbb6ef9e4e5994810970af33bc36e32c117093fa36602c448&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 108.48450799620117}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 10.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -10.48%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.480503749171799, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -10.480503749171799, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;VST.US&#x27;, &#x27;CEG.US&#x27;, &#x27;TLN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;ETN.US&#x27;, &#x27;PWR.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d17d2c825ff46cd082dee6d282f913f3db1b299a9566353800542c075b6f03f4:830ac7a2e36346ecfa7944913595521fd1a1a770b905b5eb85a26776f2dd9b00&#x27;, &#x27;symbol&#x27;: &#x27;CEG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a5524ff30eaf5df76b74bc2fc52c387d84a9f12715aaf01b5fe183cccf4e838c:4f346cca8d81d9e2c5ef3eaca04fbfbeb5fa6bb4296c2ab35b28285bf82607f8&#x27;, &#x27;symbol&#x27;: &#x27;ETN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c9ef25d9264ab44b84b2cffc4f871a179351e300602f53270786331f0a48ad5a:8ca355bc74bc5753730e56738e4c82d3edd55d1a87bfa8346acdfb5c5b09acd3&#x27;, &#x27;symbol&#x27;: &#x27;GEV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:078a88f0f3b5f9312b5490fde0329ccbc6779e237015c2a3fece6d2518d795ad:ad32121ec5eba68b51218affbd456edb034e2f6f4e1629602f71bc7576dfefb8&#x27;, &#x27;symbol&#x27;: &#x27;PWR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fc6b91c511aecf27ec9d1dc2093c909fce36b898bcce444a1e3ec1d5521ad09a:cc82e1c8054db37f79437f9d42372cdaea0b705efaadd1f96314e45fdf259ed7&#x27;, &#x27;symbol&#x27;: &#x27;ETN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c21da03b175b804e6ea8be4f9f0c3ab82f7d43f77dcdbb4fdcb7d887fba4434a:3397b36a96be2bbb8d68c188ecd6e6c7e905a8b9b68fa86ea68abba32749cf7c&#x27;, &#x27;symbol&#x27;: &#x27;GEV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:60774916b016b6268ee81bcf9fd74f1f57846f1aff6cdef00ba6b119673621c4:3b6b8f01ae36e4d7365c7a502751ed0cccb87cd65aec467d7dffccf73dafa70c&#x27;, &#x27;symbol&#x27;: &#x27;PWR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9ed551a4124e6b4cb5bac6b33feb62aa70fa57a2bbf65ba6e04907471a8236a2:981e4b900a5549816b09ef07f9800ecfb431831329339fb87ec47e42f0b80dd3&#x27;, &#x27;symbol&#x27;: &#x27;TLN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8ac4180f05ce52f8c6cec83bf1e1d156488496d4374a9953a89c9ac27352cef3:0a8663a3e53b331e26debd1b8186d078c1e0e0749fd109f5b12bd381a7f3ee0b&#x27;, &#x27;symbol&#x27;: &#x27;VST.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a77006775c33dfac989ad7700e5897608db29c2cdb89450a9c35787089ccf0d4:4cd20ee7eeee530b29e0fb05a78bb104db562b70e1821f93d3090eb9bc77a78b&#x27;, &#x27;symbol&#x27;: &#x27;CEG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;PWR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:348b5192eebea6dd8ffae2e6d761a091290d23457928b92947f209eaa76cf9d4:f053fcbef9742125116f424706aa56859d9514e99f9c0abc1df70b6794687658&#x27;, &#x27;symbol&#x27;: &#x27;TLN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5e8a0caaffccae722ba0460e5dc20d4d66024922c94808e036a1f08d6050b606:e744d8f31bf91bf5810b47187281ec59cd843decea6fb946ac71e2b24962979b&#x27;, &#x27;symbol&#x27;: &#x27;VST.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:078a88f0f3b5f9312b5490fde0329ccbc6779e237015c2a3fece6d2518d795ad:ad32121ec5eba68b51218affbd456edb034e2f6f4e1629602f71bc7576dfefb8&#x27;, 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&#x27;aib_bronze.equity_ohlcv:c21da03b175b804e6ea8be4f9f0c3ab82f7d43f77dcdbb4fdcb7d887fba4434a:3397b36a96be2bbb8d68c188ecd6e6c7e905a8b9b68fa86ea68abba32749cf7c&#x27;, &#x27;aib_bronze.equity_ohlcv:c9ef25d9264ab44b84b2cffc4f871a179351e300602f53270786331f0a48ad5a:8ca355bc74bc5753730e56738e4c82d3edd55d1a87bfa8346acdfb5c5b09acd3&#x27;, &#x27;aib_bronze.equity_ohlcv:d17d2c825ff46cd082dee6d282f913f3db1b299a9566353800542c075b6f03f4:830ac7a2e36346ecfa7944913595521fd1a1a770b905b5eb85a26776f2dd9b00&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;aib_bronze.equity_ohlcv:fc6b91c511aecf27ec9d1dc2093c909fce36b898bcce444a1e3ec1d5521ad09a:cc82e1c8054db37f79437f9d42372cdaea0b705efaadd1f96314e45fdf259ed7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 96.06464105811592}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 7.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.63%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.625044828209604, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -7.625044828209604, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;SOX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a322f4c3ee02bc57950ce272d36d6051b3cf8428e4be44cb72fc57271f5f41db:42f065927e032777af072dbce250b2228c5d6e7d3bddf923e0be13c2f439bed5&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:dfc8d112b21e1f84e217c787b318e5c7de03a7396efa6956190ea90c4a97b442:8edde558d714588e900ffec110fa055e8d98b361f60b18479e58d3657739e825&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;symbol&#x27;: &#x27;SOX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;aib_bronze.equity_ohlcv:9e21494c0d9216cc88d47bf9daa6d6d9ae7ec805a1faca727f2c85c671eb5ea9:f59477aecb4eb8af675ae210e88501832f6289d153f1cad72d0376cc97a8fc1b&#x27;, &#x27;aib_bronze.equity_ohlcv:a322f4c3ee02bc57950ce272d36d6051b3cf8428e4be44cb72fc57271f5f41db:42f065927e032777af072dbce250b2228c5d6e7d3bddf923e0be13c2f439bed5&#x27;, &#x27;aib_bronze.equity_ohlcv:dfc8d112b21e1f84e217c787b318e5c7de03a7396efa6956190ea90c4a97b442:8edde558d714588e900ffec110fa055e8d98b361f60b18479e58d3657739e825&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 126.34993837304746}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Up 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.03700225217593278, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.03700225217593278, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;JAAA.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;JBBB.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9598d76fe3835814c9e62dc1547619b4842e1d58b9b734fc70f1cc53a21eb780:fce70a86473f259793ec2d175638d0eb22c23b65072e6e5e1dd1f03490dc5756&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:dfa44f7491c7ce008bad37a24f1a4500e67718cb1468f0b050ac5ad7900a81c9&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:0f3c3f7854cd2e807bf206366349b02d071bdb52c5e3308bd6208d6c54528685&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:0f3c3f7854cd2e807bf206366349b02d071bdb52c5e3308bd6208d6c54528685&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:dfa44f7491c7ce008bad37a24f1a4500e67718cb1468f0b050ac5ad7900a81c9&#x27;, &#x27;aib_bronze.equity_ohlcv:4bfeab3132bc9b792cd48fb8e67667e02f3e29d5d3a61bf821bb016857b8befa:8e81a7233756f3918417c14cdbff466b81ac9bb327675f131e811f07eaf6340f&#x27;, &#x27;aib_bronze.equity_ohlcv:5498943c71b928747d17b63e1b055dec02ce0a5f62dda082bd3da8d3ac724914:07b09d86ad52b9f93547d59f03afe11085159f18e523a15b8a419aa7725b5468&#x27;, &#x27;aib_bronze.equity_ohlcv:8895f0b170f4107154ea46ada5f2da9db26840a3ec692f67a89f8dc1b01afb93:ee540fcdebf3767c6a229b9bae7099795615d41695b9815874a520665f18b4d6&#x27;, &#x27;aib_bronze.equity_ohlcv:9598d76fe3835814c9e62dc1547619b4842e1d58b9b734fc70f1cc53a21eb780:fce70a86473f259793ec2d175638d0eb22c23b65072e6e5e1dd1f03490dc5756&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 99.30598474695252}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.235.; Two-year own-history percentile: 34.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 34.35448577680525, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23480830170721162, &#x27;pair_count&#x27;: 17391, &#x27;symbol_count&#x27;: 187}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Up 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.19464013105241484, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, 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[&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:6d922cdc4d1caecd2c4e9403d176ecaceaf148436acb29b26d83085d2ab19a78&#x27;, &#x27;aib_bronze.equity_ohlcv:6e346584f09679db57f37d39cc10874bfbd07a804b8ffe020d276e6e1b77a169:0c2630e2d0fcb9f5991d51a09a4a84378294a4a632d5453c8f26339cb5f6023a&#x27;, &#x27;aib_bronze.equity_ohlcv:8408697caf1c2c3ebf9662aa279b14c3952542f15f75e5982070a191bb3398fd:76aee55ab98a00227b2b8113e9e5b943d5572dff7b10a0be9a875e9cde66c91f&#x27;, &#x27;aib_bronze.equity_ohlcv:869bfb6097e552efc1087b6323aac38dd028de1a4c442ffca2c60b16ceef2779:95a785a776afb7d9dfcbbf73b61822db26152785c4cd5e4891dabb6f0a6f1dd1&#x27;, &#x27;aib_bronze.equity_ohlcv:905c5afd099ea80149dc72d89613632891294155408b6776779fcf66ca6782ed:1b978c6ac1a1c44bebf37c9994b64d798b0809fdabfc1305e145dd96c338f6f8&#x27;, &#x27;aib_bronze.equity_ohlcv:f2a761db38f449a5538c4767b8a950f850162a9eb3479e0b8d852a7740b36f1b:161ef463b0f3521045ca6573cee89c0ca633de814c5caa3ad4f0da05763f4553&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 103.0843808173044}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.4220801190787946, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.4220801190787946, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:28c8edef2c9e9ca22412dbce0ceb67fe1b5796c3eec778ea8b3bba6e7085cd94:6d52909583ee9de6de690f1e1fbf09ba63a36cd04ac6cb62e356e3798c2a4cea&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8e7a8c7e264675e8a518d6d00cb86775412b430f515ed69916b29874c25cd615:bc9278f0042f18f29f39b2328594c7c585d3ead579a96a41c92e42392c076d00&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:ac5a2375b3ac1f2d27778cb73903addba59f958dbd17490a5a3121a158deea19&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: 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&#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 99.64023233330786}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fdca157cf28d7eaddc67d2b4714f055415d3db582c221707eccb69089998f2f5:560bfb55dbc4b71bf30fa8bbac35bf4fcac3aae6afde27fcae6644c6a98f2d3b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 103.3992777866059}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 4.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.29%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: 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&#x27;aib_bronze.equity_ohlcv:fd0b2ff995cca4b6ffdfcdd09eef46ff2f437ffb11390aa8b35974db1228533f:3d8b02872ac96f75f5a7704d1876ae16115dd38aee00ddabe599f8795dc875fc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 90.35996499994495}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Front VIX at 0.89× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.888.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e503fb8d17f42316d387b15b7bed006223c570c037bab36a9528c260a01006dc:b9e99c9a349165915263a8e41f1ca0b7e06a9c5ef2b2f3d33ca87eb0c4a49bd2&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6ee975cf28c1a15f154356705335b8061792c58f5c7caba6fc6a80985eb6b1be:bdb97c288ccacd5278bcbc8c1c1d710cf384bc85ee6c037eb314b3b93f630ae3&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:096d554afda54a275b71c004a4298026813e307eabe68265ef78bbb86735fef3:f380c40273686e6c633556114da317bed3f0a29f35cc87c7046535d2796ceca2&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:db62ab0a17bf5d741556de247155cb6df9ea5689f3f6bb5e030e337d4b65710c:6c4717aab3b8c57d6165b750829306010b9ffcb8e643b638a9a47383d5fdd7a2&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:096d554afda54a275b71c004a4298026813e307eabe68265ef78bbb86735fef3:f380c40273686e6c633556114da317bed3f0a29f35cc87c7046535d2796ceca2&#x27;, &#x27;aib_bronze.equity_ohlcv:6ee975cf28c1a15f154356705335b8061792c58f5c7caba6fc6a80985eb6b1be:bdb97c288ccacd5278bcbc8c1c1d710cf384bc85ee6c037eb314b3b93f630ae3&#x27;, &#x27;aib_bronze.equity_ohlcv:db62ab0a17bf5d741556de247155cb6df9ea5689f3f6bb5e030e337d4b65710c:6c4717aab3b8c57d6165b750829306010b9ffcb8e643b638a9a47383d5fdd7a2&#x27;, &#x27;aib_bronze.equity_ohlcv:e503fb8d17f42316d387b15b7bed006223c570c037bab36a9528c260a01006dc:b9e99c9a349165915263a8e41f1ca0b7e06a9c5ef2b2f3d33ca87eb0c4a49bd2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;vix_vix3m&#x27;: 0.8884297520661157}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.40%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.40177819666085135, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.40177819666085135, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, 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Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:26:06+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,005B (conditional on an IPO), -17.09% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $4,093.; Probability-weighted bucket midpoint: $1,005B.; Seven-day implied-cap change: -17.09%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -17.09125608432257, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.038, &#x27;full_set_prob_sum&#x27;: 0.989, &#x27;implied_cap_change_7d_pct&#x27;: -17.09125608432257, &#x27;implied_cap_usd_b&#x27;: 1004.9342105263158, &#x27;ipo_by_2026_prob&#x27;: 0.047, &#x27;no_ipo_by_2026_prob&#x27;: 0.951, &#x27;volume_24h_total&#x27;: 4092.939542}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-15</td><td class=\"num\">163,862</td><td class=\"num\">24</td><td class=\"num\">0.7395</td><td class=\"num\">22.84</td></tr>\n<tr><td>CISO</td><td>2026-09-15</td><td class=\"num\">725,980</td><td class=\"num\">24</td><td class=\"num\">-1.299</td><td class=\"num\">-4.157</td></tr>\n<tr><td>ERCO</td><td>2026-09-15</td><td class=\"num\">1,766,426</td><td class=\"num\">24</td><td class=\"num\">-0.1731</td><td class=\"num\">17.58</td></tr>\n<tr><td>PJM</td><td>2026-09-15</td><td class=\"num\">2,284,173</td><td class=\"num\">24</td><td class=\"num\">-1.353</td><td class=\"num\">1.042</td></tr>\n<tr><td>SOCO</td><td>2026-09-15</td><td class=\"num\">812,536</td><td class=\"num\">24</td><td class=\"num\">0.06818</td><td class=\"num\">17.83</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">39.65</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">36.08</td><td class=\"num\">0</td><td class=\"num\">-3.569</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">34.96</td><td class=\"num\">0</td><td class=\"num\">-4.687</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.802</li>\n<li>as of: 2026-09-15</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.4082</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-15</td><td class=\"num\">30.26</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-11.78</td><td class=\"num\">-1.006</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>revised_in_bronze</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>250 benchmarked model identities; 200 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 819,261,143,221</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 845,714,442,752</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.8</td><td>$10 / $50</td><td>≥ 1,066,346,951,116</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.7</td><td>$5 / $25</td><td class=\"num\">6,307,036,406,962</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 569,388,201,847</td></tr>\n<tr><td>GPT-5.6 Sol (max)</td><td class=\"num\">47.1</td><td>$2 / $10</td><td class=\"num\">7,220,843,082,325</td></tr>\n<tr><td>Qwen3.8 Max (0902)</td><td class=\"num\">45.4</td><td>$2 / $6</td><td>≥ 546,781,361,797</td></tr>\n<tr><td>GLM-5.3 (max)</td><td class=\"num\">44.9</td><td>$1.4 / $4.4</td><td>≥ 8,076,821,076,050</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 99 eligible configurations.</p>\n<p>Usage window: 2026-08-17 → 2026-09-15. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-09-17 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;49e22fa5a50625adbecdefd28f226e6a582c915558198f8cf119e211e41b8a75&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;1e813c14ba76ea10b6fd2d5b485d9a78e2ef011e6b335db57610a76487b6d424&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;3479e195b8a8e6fdc756ce874d62c4b9f5dea6bb793b5a7e71e4eb881dd57f95&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-16 06:25:47&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-16 06:26:06&quot;, &quot;record_count&quot;: 1518, &quot;records_hash&quot;: &quot;5d0b3facac749b03edf4b345c4a874e51179800f105e189ee6e69cb95959cdf2&quot;, &quot;snapshot_id&quot;: &quot;7a30865d57febede5199b1e37e9982827ea0011b4aacf9c841d4f5d054464844&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;bdc5866802dd1b088933511cef0a74614763a5d2f976c6b5e11819ad4c18f174&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;6f1606d39ff599434b41ebc7043516038de3dc05ab7525e94f42156bf47f442e&quot;, &quot;23b7c6c5d718e7732c9215569367815e60b8afc9c8fc470a0799d744e1fdc7f6&quot;, &quot;353dc04d68ecf0db2fa467ff6a504ca21cd3f08457311dd4e9b9ca7fca685972&quot;, &quot;1269ba6e064046ca37f20d9760b6ca2cbb1a55e894b44e3737c99a290c18a731&quot;, &quot;3627a52fdee5774d4969dadcae133c786045a2742fbb2e6c158355ffcddd2656&quot;, &quot;3b03dee5354af6bdbbfb49784a79911969a225c05a9215a44f74272b0c5cedc4&quot;, &quot;75283e59db828ac063843e5b26e18a92a84c4785080433857429361b23e45313&quot;, &quot;93b47d41d7f6ea8964551336b50135bbe2b33f2357879bff39583d33985ca682&quot;, &quot;c7cc03a8304990ae7b4ea0c3da465873e7aab306635015009f415e66bac25508&quot;, &quot;cf3de115c4df83d6ccf3450525621d47d56ffb06651d3e0cce8ad9bfb435cbf7&quot;, &quot;a30bc7ced0b63786d95ae7ea6b583005755c975b385cfb229402a57a0758d2e9&quot;, &quot;3e317b91ff8c3afdf87e92961eac68b8f1b4854a11992b45a6a1e8971b8c8ef0&quot;, &quot;739746d22a489970223fb3c4f5110fcf933459171e8338eb16697b9e94d5a1fe&quot;, &quot;89e5b84a547eb4c96d37970f908500535ff6e6c067fd65642e0f5b0446827969&quot;, &quot;5c61b3ab260de9c2efa3f96461e8737a31f0932cb3d2083e5039202cde73c8c9&quot;, &quot;2c59f13ca40cd2076869b72fbbd5b890da8d96381c848796b238a88e1181f546&quot;, &quot;3a65fe0975c10a68e001341b16d2dcc2f384400ea3a800328537a6aec7eb6b5f&quot;, &quot;9b5bfdeb483a6d490958aa5c27acc8dffe56ed52552a55b74d3ae92e7aeb0445&quot;, &quot;020f97fb607db777e2f08579bab8972f6f4313c378d3a1b3e45fe6dc374b1325&quot;, &quot;8335fc9e27f0c6b08e43b30ee3d4607935c435c1c298e461bef31cdaca51301d&quot;, &quot;17b717560320300f296626feaf911f6024194d8826d29e297c0b41f8e41552fa&quot;, &quot;02e852c49927bd23020a4698869cb15af3575988dd2a4f395404c499d11dabbd&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-09-16 06:26:15&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-16 06:26:38&quot;, &quot;record_count&quot;: 743, &quot;records_hash&quot;: &quot;de2b34c754fb33f44cc02d2687ec92e9e454988d9a9c3a28bf2882a99c7df25b&quot;, &quot;snapshot_id&quot;: &quot;ef77a0b1b475de2fc41c3ae3f0df723750289f3a8ac0f0a02ef2ef7b1260ad14&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;94b36236e85929be39041e32c26df645924f21611b94b62798fb78287e344a3c&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;155eeedbb85e47558e5f8795f57399fafb2c3b8b593fbeff2fbb54f5b8b62146&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-16 06:25:49&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-16 06:26:07&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;79a25990c9d732b2a32fc77f59269c93e226095f602590b66fcd894d0aa03ec7&quot;, &quot;snapshot_id&quot;: &quot;9ad70776b9784746a8e98f2b40ea7fd6bb17ebda0c92d6ce94514478eb876fd2&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;ec8c4e76a2bd72c20e15b0ea5bb1afe5cc4e35e7553b2f640c29a5cbf29c3d38&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;07fd43b347b2d8fec6d40dc51e6ed9abb0c5dc8179b0e365a87df7f9de967032&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-09-16 03:32:59&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-16 03:32:59&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;f02a9534243e1c3cdbe9e54e61e671c9a378ac7791b314fed6e2473e9cc91c89&quot;, &quot;snapshot_id&quot;: &quot;c10845a1abc13565b492534411b3f11b49f205679da97a8608685690234244dd&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below carry their recorded reviewer and primary filing. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">disclosed</th><th scope=\"col\">as of</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>Capex commitment</td><td>2026-07-29</td><td>2026-06-30</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>Capex commitment</td><td>2026-08-26</td><td>2026-07-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>Debt issuance</td><td>2026-06-15</td><td>2026-06-18</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · Capex commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Capex commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · Debt issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>error</td><td class=\"num\">0</td><td>2026-09-17 23:05:09</td><td>—</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">8</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>error</td><td class=\"num\">0</td><td>2026-09-17 05:25:21</td><td>—</td><td>MissingAnchorConfigurationError: External integrity gate unmet: configure AIB_ANCHOR_BUCKET, AIB_ANCHOR_BUCKET_OWNER, AIB_ANCHOR_KMS_KEY_ARN</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">6</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">3</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-16 06:25:54</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">598</td><td>2026-09-17 23:55:01</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">49</td><td>2026-09-17 23:26:39</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3324</td><td>2026-09-16 06:27:52</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">585</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">5605</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>error</td><td class=\"num\">0</td><td>2026-09-17 10:58:59</td><td>—</td><td>RuntimeError: all GPU marketplace fetches failed: vast:H100: Request failed: [Errno 8] nodename nor servname provided, or not known; vast:H200: host sticky-blocked: console.vast.ai; vast:B200: host st</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-17 01:45:59</td><td>—</td><td>partial: PJM: gridstatus PJM DA fetch failed: 403 Client Error: Forbidden for url: https://api.pjm.com/api/v1/da_hrl_lmps?fields=congestion_price_da%2Cdatetime_beginning_ept%2Cdatetime_beginning_utc%2</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">24008</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">41629</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">520</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">443</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">564</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">5</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1518</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">743</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-16 06:25:41</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-17 05:25:24</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">7348</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: catalyst_markets, chain_anchor, gpu_spot, policy_events</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-18T05:10:11Z",
      "id": "urn:prexel:issue:d52bcfce-0983-55d3-9699-de580822aeee",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 26 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-17-daily-1f6808e5b2f6.html"
    },
    {
      "_prexel": {
        "content_hash": "c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50",
        "context_hash": "7b63883ca85f4351872d975a993af101a18cf7166f1f0c17418aad16d71d3c11",
        "kind": "daily",
        "period_end": "2026-09-16"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-22 05:57:30.836000 · correction <code>9fbde3c8b69341cb675907ff11ac9c52edc2a0d4ad59e24e6d0ecd16408ac081</code> · hash <code>2f6bc1947a4b623a8d62786674671dc125f4f1756673a19072dc0bae5738ced8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-21 01:56:32.522000 · correction <code>086a5941acb3018cc651d148496dc6bb92b66173fb49696ae651dd073530f560</code> · hash <code>53ce18ab10ff71dbd03e9dd8472d6fd5b4bcf8ab31a84024e1a562e1b52a2345</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45.522000 · correction <code>e0c4e626341179c26c039a9789e566b66d4e9005489377d782e6f2a64d4db826</code> · hash <code>e538262c6c3cc0b249bc06020055a40ab461a52b10de3261259587ed3498de4d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-20 13:53:45.522000 · correction <code>de18ca943eb4cb75f2a4b64691c66b2a17faa8e1bd4fd4a7c9c21cd0e0bd56dc</code> · hash <code>796244a36470fd9ce6417d1d3ec355f3eeb04c4011c1773d9809aed3995654b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05.085000 · correction <code>f5ed49f9a46e572b421efc0334e684ce080397365cbe340a276318cd5e0dfdaf</code> · hash <code>2ad2ec9e5cbb9073a02cb892e88a63b0134294c86330f8979a09b6cd63f942f4</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05.085000 · correction <code>c2ab3b5387a6e73ba0a3d655b5c6b3147ade8c8db411159169b0d97641cc5c64</code> · hash <code>cdddc9fd8dd5455fb6045210dd27bd4a0bd4712867815f3bb5417c3b0d687e07</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c8c5cad30d346d5488b989dffff56407847526698fa402aaed1d8eb9730def50</code> · effective 2026-09-18 04:22:05.085000 · correction <code>765e33c14913bc1fd8c8c9689257ed4d3e4040a9fc51eb1e6a6a28b979957dd3</code> · hash <code>0b126176ae9f560e4233cf3933f24a0fef3fd3fc806730a67821ef04f0296fda</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 25 (daily)</h1>\n<p>Period: 2026-09-16 → 2026-09-16</p>\n<p>Context hash: <code>7b63883ca85f4351872d975a993af101a18cf7166f1f0c17418aad16d71d3c11</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>23 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ▼ Bearish — mega-cap concentration in US equities (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>B200 vs H100 rental price: ▲ Bullish — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>GPU marketplace depth: ◆ Mixed — GPU rental lessor pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>H100 spot rental price: ▲ Bullish — H100 rental-provider pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Inference demand concentration: ▼ Bearish — durability of routed inference demand (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Inference price cuts (like-for-like): ◆ Mixed — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Open-weights token share: ⊘ No read — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>CAISO implied heat rate: ⊘ No read — scarcity of dispatchable power net of fuel in CAISO (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Data-centre load premium: ▼ Bearish — excess PJM load growth attributable to data-centre buildout (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Dominion (N. Virginia) electricity demand: ▲ Bullish — Dominion-zone electricity demand as the ground-truth NoVA data-centre load read (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>PJM electricity demand: ▼ Bearish — PJM electricity demand (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — near-term PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-09-16T06:28:09.886372+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 51 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 32 usable / 19 no read — 11 bullish, 13 bearish, 8 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:23:59+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is expanding — the frontier premium is strengthening.</li>\n<li>evidence: b200_h100_ratio=2.6992621183584458; b200_h100_ratio_change_14d_pct=0.12780445272091004; b200_offered_usd_hr=7.563932291666667; band_measured_pct=12.780445272091004; band_pct=5.0; h100_spot_usd_hr=2.8022222222222224</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.6992621183584458, &#x27;b200_h100_ratio_change_14d_pct&#x27;: 0.12780445272091004, &#x27;b200_offered_usd_hr&#x27;: 7.563932291666667, &#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 12.780445272091004, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_measured_pct&#x27;: 12.780445272091004, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222224}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:23:59+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:23:59+00:00</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=0.2422360248447205; h100_depth_smoothed_3d=50.0; h100_dispersion_smoothed_3d=1.8011771238200993; h100_price_change_14d_pct=0.050395668888686185</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: 0.2422360248447205, &#x27;h100_depth_smoothed_3d&#x27;: 50.0, &#x27;h100_dispersion_smoothed_3d&#x27;: 1.8011771238200993, &#x27;h100_price_change_14d_pct&#x27;: 0.050395668888686185}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ▲ Bullish</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:23:59+00:00</li>\n<li>interpretation: H100 spot rental prices are firming.</li>\n<li>evidence: band_measured_pct=40.81518637150953; band_pct=8.0; h100_spot_usd_hr=2.8022222222222224; spot_trend_30d_pct=0.4081518637150953</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 30-day price trend crosses the opposite 8% threshold.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 40.81518637150953, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_measured_pct&#x27;: 40.81518637150953, &#x27;band_pct&#x27;: 8.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222224, &#x27;spot_trend_30d_pct&#x27;: 0.4081518637150953}</li>\n</ul>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:25:43+00:00</li>\n<li>interpretation: Up 10.3% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 10.30%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 10.302392588184661, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 10.302392588184661, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2538705400, &#x27;total_tokens&#x27;: 159803410478258}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:25:43+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.04pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.6%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 2.0385851576824052, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.57587026851833, &#x27;top10_share_change_14d_pp&#x27;: 2.0385851576824052}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ◆ Mixed</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:25:43+00:00</li>\n<li>interpretation: The like-for-like fixed-basket price is inside its registered 7-day band.</li>\n<li>evidence: Cut/raise events vs the prior catalog snapshot: 18 cuts, 14 raises.; Fixed-basket price at prior-day token weights: $0.710/Mtok.; Seven-day like-for-like change: +1.30%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day like-for-like fixed-basket price change crosses the opposite 3% band.</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 1.2998401669533255, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;fixed_basket_model_count&#x27;: 329, &#x27;fixed_basket_price_usd_mtok&#x27;: 0.7096969949310115, &#x27;like_for_like_change_7d_pct&#x27;: 1.2998401669533255, &#x27;price_cut_model_count&#x27;: 18, &#x27;price_raise_model_count&#x27;: 14}</li>\n</ul>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:25:43+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -6.82%.; Token-weighted effective price: $0.702/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -6.824698131433027, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -6.824698131433027, &#x27;effective_price_usd_mtok&#x27;: 0.702471140692961, &#x27;matched_model_count&#x27;: 331, &#x27;total_standard_tokens&#x27;: 115197111294252, &#x27;unmatched_token_share&#x27;: 0.5249099659456233}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-15 07:35:40+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.8 listings/month.; Relative change: +84.9%.; Trailing three complete months: 104 new listings (34.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 84.88888888888889, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.75, &#x27;listing_rate_change_pct&#x27;: 84.88888888888889, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 104, &#x27;trailing_3mo_rate&#x27;: 34.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Open-weights models carry 66.1% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-14 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: revised in bronze; source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:26:11+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $69.30/MWh vs prior 14-day $46.67/MWh (+48.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 48.48982096772324, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 69.30370906442576, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 46.67236354166666, &#x27;caiso_da_trend_pct&#x27;: 48.48982096772324}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ⊘ No read</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough heat-rate history yet</li>\n<li>data quality: Henry Hub gas proxy, not local basis; secondary AI region — proxy read</li>\n</ul>\n<h3>Data-centre load premium — ▼ Bearish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:26:11+00:00</li>\n<li>interpretation: PJM load growth is materially lagging the CISO/ERCO controls — no excess growth attributable to data-centre buildout.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +15.30% vs control mean +18.97% (gap -3.68pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -3.675187575795272, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 21.47434044915986, &#x27;dc_load_premium_pp&#x27;: -3.675187575795272, &#x27;erco_load_yoy_7d_pct&#x27;: 16.4748521028577, &#x27;pjm_load_yoy_7d_pct&#x27;: 15.29940870021351}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:26:11+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +26.31% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 26.312695406389935, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 26.312695406389935, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 12.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -12.05%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -12.05458591642361, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -12.05458591642361, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CCJ.US&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;BWXT.US&#x27;, &#x27;URNM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1c4ec19adc83587e8de98474eae8d2706fcba9db7f3c64dd8efa28468a1b56f1:429cd9477b880352a0835626d1be62a9800f9cf1bc8272f2ad81201ef05ecd19&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:84c3384a1cf6621d5ca8fb482d438803d6676fedff7d0b667ddff8826d389675:c1447d5a0983e99b2e6a2b5c2e84ca3ab57880bc7d701c992154a398af2c5f74&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:429573d8b9e5ca41c9c1add6680fc6d828cffc436c0b6c94003b5caf7778ed0e:2c6c67ecdee66d7613c9a06071733896108ae55d8a967150675c6b9d0a50608f&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0863e33afe9397d09f71a0219254a9f7c6abc43e4923ea27d3ad58ad44961715:e0e527f236d78780bd3230fe2bbca2337b47be657a5e019562756c8458aca408&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4638ab3b43b6d79170959332bcf309b5fd573564257e10a9a46a6db91638fb26:2b0d5d0f33f8c3802bfcc7963d55ebf0b7806faf87e52e73f52b7052bbfe054e&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:40241d9026b220c5630d484aae3d6e74ebd133ee36d42340e47c650e9c49b247:a6ca9e8ceee76f13c9365972130c00d7fa54b0f68b711e3825d680304b318560&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0c2a34b23796c9d17645f75d4c0fa466ebf9451de7fb947932643c4377ed8db6:443dd52398541156beb57c1d2b6675f38a3ffb223c5ce0c9de6429eddee6b5be&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d57058921a23cc5563ab25d24c787dda8e29bfdb5f1a2b593e55b2b43993b3d5:bc6e5e85e4a3ed328ad98b5cff8164b49f8e99a87be6ea2ab0975ffea76f8cc6&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:82753ff7f446fa530c539f95c93c1bfc2333c67cd85fa66b21064d5d2af08d46:7069bee14627a9c851cd88c7ec072171f14b4d25a3362ebfd2d84eb4acc754de&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:510ff7ec870173d7c5acfcb2d7623726dac37f486af82fa5a8ed191d05b347b0:24237341ed754925e998319eff95b351c7803c38db6a98f918d699f82c28c67e&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0fb880f9304f38381163395c0833f292e4a728dc192cd11510399fc9b60680d5:6cd899b986286d406d54342c5b305b4d216f93b61b3f58a64447b9d44f1b63be&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0863e33afe9397d09f71a0219254a9f7c6abc43e4923ea27d3ad58ad44961715:e0e527f236d78780bd3230fe2bbca2337b47be657a5e019562756c8458aca408&#x27;, 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&#x27;aib_bronze.equity_ohlcv:67300f42b542ef8430e220c5495c0edf4d17e6cceb1939573cbb94dd0c0a8da0:4fdd910af0c9f1295577d1ebf5a2c8f4a40b575fa0973a13ee684d114a3ebe6c&#x27;, &#x27;aib_bronze.equity_ohlcv:82753ff7f446fa530c539f95c93c1bfc2333c67cd85fa66b21064d5d2af08d46:7069bee14627a9c851cd88c7ec072171f14b4d25a3362ebfd2d84eb4acc754de&#x27;, &#x27;aib_bronze.equity_ohlcv:84c3384a1cf6621d5ca8fb482d438803d6676fedff7d0b667ddff8826d389675:c1447d5a0983e99b2e6a2b5c2e84ca3ab57880bc7d701c992154a398af2c5f74&#x27;, &#x27;aib_bronze.equity_ohlcv:d57058921a23cc5563ab25d24c787dda8e29bfdb5f1a2b593e55b2b43993b3d5:bc6e5e85e4a3ed328ad98b5cff8164b49f8e99a87be6ea2ab0975ffea76f8cc6&#x27;, &#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 58.81050139963023}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ▼ Bearish</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:26:11+00:00</li>\n<li>interpretation: PJM load is materially below its weekday baseline.</li>\n<li>evidence: PJM load anomaly z=-1.353</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;z&#x27;, &#x27;value&#x27;: -1.3530529824070596, &#x27;window&#x27;: &#x27;weekday_baseline&#x27;}, &#x27;dc_load_anomaly_z&#x27;: -1.3530529824070596, &#x27;dc_load_growth_yoy&#x27;: 1.0420611019297394}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 8.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -8.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, 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&#x27;aib_bronze.equity_ohlcv:4fd13eee339161478c9d7b8a2fd06cfb18a050533f077bfe3085ab7d1176ede8:1e021fa8331175c2024184b71cbab9a9a11410fb61930365bbfcab98b9989382&#x27;, &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:0e98aaf6a49dbb4acfb6280195ca5f7fba1a45c2fab48fbe17795ee34ee570dd&#x27;, &#x27;aib_bronze.equity_ohlcv:9318d475e6193ee07118aa0e858a773a63d677e0cd9afb505fa7a0373ee3f5b0:bbc561884f29fe6cd0b8665a059f775018feef386d4d02715d95e772f23cc590&#x27;, &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:06eded09a5519c167fd93f8c7340d2715d460390634fe1d025c4a04d400f5b4f&#x27;, &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:ac4ef0495a154809afb2530ecfadb90717d537cb754953085c659f11238de178&#x27;, &#x27;aib_bronze.equity_ohlcv:ca7849bb0c14508ff5c7c4beaebc490a498e8be06baaed2f100de326721ac1af:bbb7c662ca304ef502b0ac274aead04fd44bf0cb60fd1383d95279f42e593124&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 111.21411140177145}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Up 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 2.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 2.5496366928878578, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 2.5496366928878578, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;MSFT.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;AMZN.US&#x27;, &#x27;META.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a3c369270ff82c4429c5bf50037b01dece876a75b145624ac46a9384f76d4712:5c146d3193bc8b484709d87f64f874716f3e0ebe47c6dcf150ef3ff6ae3d41bd&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1832a9b3fc73c311328ea3fee577edda891d001d11b14005e367b4af55724de3:39f22003a4d0606d8d3f9d91344d968eee45b822b281992a2e538ad6280d0253&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f7ddcbd29649d79d0f78b21c37beef8c53ed5663b0a5b35ebab40c212279084d:c3d84a405aa5faf5501df3c804ba3f329d9704854b2cd998ce1b7d1e8f7d8a53&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:09a921fe816286ab64392046732511d0ab6e20a706c1e50164e45c2bd38775c7:27d8b5edcb045c0645bc3d5aef641ece3845ec68e1129446a4714f3ed1e1e495&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8c7d2e5979a9802f3a4dc6359086f4d2c628cc1e0c496ee03bfdfbfe2c015835:5d10495c4979e5555363c273dca9d0a742a685002c097dd941ac31dc52c7ec06&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;META.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:95eb9a454315ddb7146bab4dd2323cd189eeee0c2bc4e9c0ac041753fbe9d9dd:ce0ad1c71e80eee2a497a9794929c09829df7a669d763da9db5f8e108e3afc17&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5ce0baf40718136c7f57157f094bcb508e2184973a32222dbe8f2636c94f3cff:c5f69a014867df5f1d8099dce9a650e5255f513e24cba6453479fee44d81addb&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:16c78722f31248c612b3c7f6f605f2c3b602784fd6902667f08411a4474bfd1f:49fa8c739cf3270a2bdd6a0d4bd4afb077941b52b28cfef6b8d9aadc731c752d&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1d18247bb260b4fcfad7f01112ab10b2ed955da47489d1785d2a16f4c43a5921:04073417089b89c39cade3e8344c3dc9f03203e0c459dfee46aea64565774e2c&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:09a921fe816286ab64392046732511d0ab6e20a706c1e50164e45c2bd38775c7:27d8b5edcb045c0645bc3d5aef641ece3845ec68e1129446a4714f3ed1e1e495&#x27;, &#x27;aib_bronze.equity_ohlcv:16c78722f31248c612b3c7f6f605f2c3b602784fd6902667f08411a4474bfd1f:49fa8c739cf3270a2bdd6a0d4bd4afb077941b52b28cfef6b8d9aadc731c752d&#x27;, &#x27;aib_bronze.equity_ohlcv:1832a9b3fc73c311328ea3fee577edda891d001d11b14005e367b4af55724de3:39f22003a4d0606d8d3f9d91344d968eee45b822b281992a2e538ad6280d0253&#x27;, 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&#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;aib_bronze.equity_ohlcv:5ce0baf40718136c7f57157f094bcb508e2184973a32222dbe8f2636c94f3cff:c5f69a014867df5f1d8099dce9a650e5255f513e24cba6453479fee44d81addb&#x27;, &#x27;aib_bronze.equity_ohlcv:71311d00e4064c624cecce8e005881fd69a9adba612af30603239d8a1b348f9d:dcf929b00dc2214835e33569e71df9a7ddd8496ffb6d6223d4de712753910b8a&#x27;, &#x27;aib_bronze.equity_ohlcv:8c7d2e5979a9802f3a4dc6359086f4d2c628cc1e0c496ee03bfdfbfe2c015835:5d10495c4979e5555363c273dca9d0a742a685002c097dd941ac31dc52c7ec06&#x27;, &#x27;aib_bronze.equity_ohlcv:95eb9a454315ddb7146bab4dd2323cd189eeee0c2bc4e9c0ac041753fbe9d9dd:ce0ad1c71e80eee2a497a9794929c09829df7a669d763da9db5f8e108e3afc17&#x27;, &#x27;aib_bronze.equity_ohlcv:a3c369270ff82c4429c5bf50037b01dece876a75b145624ac46a9384f76d4712:5c146d3193bc8b484709d87f64f874716f3e0ebe47c6dcf150ef3ff6ae3d41bd&#x27;, &#x27;aib_bronze.equity_ohlcv:bbd5cebce1bb26cd7e4460b843d71d859c4afa4e1420ea2ae52738dfd4a031e8:9c2bffc8dd1fd611cda33061eeb3b17e8132ead4c492d80c72abcebf1254a759&#x27;, &#x27;aib_bronze.equity_ohlcv:c6dd35bab12405072e1ee4c809b2582635ede4a2958d339b53c54053bc9b0674:56d3dce0a196295606a9815b44eeff8e9c42364df8b170101ded011ff9168d34&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;aib_bronze.equity_ohlcv:f7ddcbd29649d79d0f78b21c37beef8c53ed5663b0a5b35ebab40c212279084d:c3d84a405aa5faf5501df3c804ba3f329d9704854b2cd998ce1b7d1e8f7d8a53&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 92.71162845216861}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 20.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -20.08%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -20.08400389527415, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -20.08400389527415, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CRWV.US&#x27;, &#x27;NBIS.US&#x27;, &#x27;IREN.US&#x27;, &#x27;APLD.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8723337291fc8e7a318055a40b79a637b73f2bdfdefa1c8748c9050205f3d456:5b61c06973dfc9335caa7402fd680ded7df42fa4cbc7d3701231c08c0df05930&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2b82fba044ef068d29d2f43fc560243f18c8b665bad7acc9574d1577c5cad99f:bc6f2aa7887ced449c92c889f35e2d71ec0ab5155c4b4990d3dafcec976a6b93&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0fdb2a8ea411b90c0fd8db4a9a38ae2673792dbc0c7f44df885c500b6633b215:e4afea9fd81dd9ec660bf837333c52ba29848a49cd23b6aa44214cd2fd5b40af&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0ef353e2ab0a049825e2db3a3ee4515118f9113f5cf7c0895de4fdb85b0542f8:cf3ce31233ae18ad1db3249324df55750df5504998298052d2d3234ce33fddef&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:80245dbcf754e258f0dde7164955696cb5fabefb1a69b9af996d69f5fc80be73:a1549d8b3b1517f0080e98d3b9a873433a58292c3ce340b477603268ec4d23e8&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:eaee06d03eef49ed17df215fce5a27d93215da89eb2a9e364e6bd1c86df12a06:a9a6e562d8f8797dbb6ef9e4e5994810970af33bc36e32c117093fa36602c448&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e599aa9792a75c0354289c185cbec30e6e96ddd992f2baf123f6dac704a77b2c:cedee46d28916b99169eb9b5841c8a77330008097bc7df4689d24997dce49f49&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:77c68e3c13ccf965b67a6a9eecb0fcb2c799abe12dd02e76b4e9093ce2954c64:0044e04791e76505987d5da1024dbc0c0792542948acfa3e4bf85a664e22682e&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:30b11c335727fd6dd068da766ab88da41164602c45a0defaa332a519ac8da663:04d7a0e2bf120bd533c3151a7a9a280f36f47aaea5a776aba8a571058610da95&#x27;, &#x27;symbol&#x27;: &#x27;APLD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, &#x27;symbol&#x27;: &#x27;CRWV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:989e968423dc9039a50359cc0c9eab6779c28bb4f4cf9cef6bbd369f614bc87d:f819961bb68c4011de4bf4cf792933daaf482f63535d29fd3720ebc6b140042d&#x27;, &#x27;symbol&#x27;: &#x27;IREN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b10c446350d22e4c98a0c9ff03b484f2c4651fab3abcede851488aee9d17c2db:68fd76cfb161c5db3e049d280ef8dd27bc93836dd2a62d4aaaf67eccbf9ed4bd&#x27;, &#x27;symbol&#x27;: &#x27;NBIS.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0ef353e2ab0a049825e2db3a3ee4515118f9113f5cf7c0895de4fdb85b0542f8:cf3ce31233ae18ad1db3249324df55750df5504998298052d2d3234ce33fddef&#x27;, &#x27;aib_bronze.equity_ohlcv:0fdb2a8ea411b90c0fd8db4a9a38ae2673792dbc0c7f44df885c500b6633b215:e4afea9fd81dd9ec660bf837333c52ba29848a49cd23b6aa44214cd2fd5b40af&#x27;, &#x27;aib_bronze.equity_ohlcv:180a6a7dcc8047c4ba8ce248dddbbfd36bc52d7455b7103321b34c868543087c:d41d43097292a212feb87845b0911e5f19825f5d2ed248e6fcbe92c0c1caacea&#x27;, 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&#x27;aib_bronze.equity_ohlcv:80245dbcf754e258f0dde7164955696cb5fabefb1a69b9af996d69f5fc80be73:a1549d8b3b1517f0080e98d3b9a873433a58292c3ce340b477603268ec4d23e8&#x27;, &#x27;aib_bronze.equity_ohlcv:8723337291fc8e7a318055a40b79a637b73f2bdfdefa1c8748c9050205f3d456:5b61c06973dfc9335caa7402fd680ded7df42fa4cbc7d3701231c08c0df05930&#x27;, &#x27;aib_bronze.equity_ohlcv:989e968423dc9039a50359cc0c9eab6779c28bb4f4cf9cef6bbd369f614bc87d:f819961bb68c4011de4bf4cf792933daaf482f63535d29fd3720ebc6b140042d&#x27;, &#x27;aib_bronze.equity_ohlcv:b10c446350d22e4c98a0c9ff03b484f2c4651fab3abcede851488aee9d17c2db:68fd76cfb161c5db3e049d280ef8dd27bc93836dd2a62d4aaaf67eccbf9ed4bd&#x27;, &#x27;aib_bronze.equity_ohlcv:e599aa9792a75c0354289c185cbec30e6e96ddd992f2baf123f6dac704a77b2c:cedee46d28916b99169eb9b5841c8a77330008097bc7df4689d24997dce49f49&#x27;, &#x27;aib_bronze.equity_ohlcv:eaee06d03eef49ed17df215fce5a27d93215da89eb2a9e364e6bd1c86df12a06:a9a6e562d8f8797dbb6ef9e4e5994810970af33bc36e32c117093fa36602c448&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 108.48450799620117}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 10.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -10.48%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -10.480503749171799, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -10.480503749171799, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;VST.US&#x27;, &#x27;CEG.US&#x27;, &#x27;TLN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;ETN.US&#x27;, &#x27;PWR.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:d17d2c825ff46cd082dee6d282f913f3db1b299a9566353800542c075b6f03f4:830ac7a2e36346ecfa7944913595521fd1a1a770b905b5eb85a26776f2dd9b00&#x27;, &#x27;symbol&#x27;: &#x27;CEG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a5524ff30eaf5df76b74bc2fc52c387d84a9f12715aaf01b5fe183cccf4e838c:4f346cca8d81d9e2c5ef3eaca04fbfbeb5fa6bb4296c2ab35b28285bf82607f8&#x27;, &#x27;symbol&#x27;: &#x27;ETN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c9ef25d9264ab44b84b2cffc4f871a179351e300602f53270786331f0a48ad5a:8ca355bc74bc5753730e56738e4c82d3edd55d1a87bfa8346acdfb5c5b09acd3&#x27;, &#x27;symbol&#x27;: &#x27;GEV.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:078a88f0f3b5f9312b5490fde0329ccbc6779e237015c2a3fece6d2518d795ad:ad32121ec5eba68b51218affbd456edb034e2f6f4e1629602f71bc7576dfefb8&#x27;, &#x27;symbol&#x27;: &#x27;PWR.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:60179550a18a0e8439c71e6726810dd8a07252d35766dfba2f823caf9616dda2:afbeb7617c54e9c286ffa73a6b5cdc7a876ff5f3da395dca69e1ed6bbee219c6&#x27;, &#x27;symbol&#x27;: &#x27;TLN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:887adb0d9de6b5f5720cdfc4d2fb7e97e17ae2b018d81c8f50ed74fc7aeb0d64:6fb6f53b392d57cf24bae9395e176c7783bf1442d5d4f436c20c3a83239a93d2&#x27;, &#x27;symbol&#x27;: &#x27;VST.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7d0303b91fa2371456ba11a1bdfd89572448cc05dac80331e3e380b867ab2693:ca09c1d980c524a13202adc3922e0995c1a9dcca058b3e80f1e182e1f3715921&#x27;, &#x27;symbol&#x27;: &#x27;CEG.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 7.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.63%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.625044828209604, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -7.625044828209604, &#x27;components&#x27;: 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<code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Up 0.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.03700225217593278, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.03700225217593278, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: 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&#x27;aib_bronze.equity_ohlcv:8895f0b170f4107154ea46ada5f2da9db26840a3ec692f67a89f8dc1b01afb93:ee540fcdebf3767c6a229b9bae7099795615d41695b9815874a520665f18b4d6&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4bfeab3132bc9b792cd48fb8e67667e02f3e29d5d3a61bf821bb016857b8befa:8e81a7233756f3918417c14cdbff466b81ac9bb327675f131e811f07eaf6340f&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:5498943c71b928747d17b63e1b055dec02ce0a5f62dda082bd3da8d3ac724914:07b09d86ad52b9f93547d59f03afe11085159f18e523a15b8a419aa7725b5468&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:dfa44f7491c7ce008bad37a24f1a4500e67718cb1468f0b050ac5ad7900a81c9&#x27;, &#x27;symbol&#x27;: &#x27;JAAA.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:0f3c3f7854cd2e807bf206366349b02d071bdb52c5e3308bd6208d6c54528685&#x27;, &#x27;symbol&#x27;: &#x27;JBBB.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:2c66b1ee4c0ac66ada787b1ba99b8717a1443125beb6df11204f99f0a9088ff8:0f3c3f7854cd2e807bf206366349b02d071bdb52c5e3308bd6208d6c54528685&#x27;, &#x27;aib_bronze.equity_ohlcv:2e15f309b66c47214d26f11d6b748b73129d7908e06f0c45f600a63cd8fda3a8:dfa44f7491c7ce008bad37a24f1a4500e67718cb1468f0b050ac5ad7900a81c9&#x27;, 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<code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.235.; Two-year own-history percentile: 34.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 34.35448577680525, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23480830170721162, &#x27;pair_count&#x27;: 17391, &#x27;symbol_count&#x27;: 187}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Up 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.19%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.19464013105241484, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, 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&#x27;aib_bronze.equity_ohlcv:f2a761db38f449a5538c4767b8a950f850162a9eb3479e0b8d852a7740b36f1b:161ef463b0f3521045ca6573cee89c0ca633de814c5caa3ad4f0da05763f4553&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 103.0843808173044}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.42%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.4220801190787946, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.4220801190787946, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:28c8edef2c9e9ca22412dbce0ceb67fe1b5796c3eec778ea8b3bba6e7085cd94:6d52909583ee9de6de690f1e1fbf09ba63a36cd04ac6cb62e356e3798c2a4cea&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:28c8edef2c9e9ca22412dbce0ceb67fe1b5796c3eec778ea8b3bba6e7085cd94:6d52909583ee9de6de690f1e1fbf09ba63a36cd04ac6cb62e356e3798c2a4cea&#x27;, &#x27;aib_bronze.equity_ohlcv:32a33e04daf4ec7d15af33db4f9763a417be031480323130da802017887e4137:ac5a2375b3ac1f2d27778cb73903addba59f958dbd17490a5a3121a158deea19&#x27;, &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;aib_bronze.equity_ohlcv:8e7a8c7e264675e8a518d6d00cb86775412b430f515ed69916b29874c25cd615:bc9278f0042f18f29f39b2328594c7c585d3ead579a96a41c92e42392c076d00&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 99.64023233330786}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.1489746992902172, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.1489746992902172, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;NDX.INDX&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fdca157cf28d7eaddc67d2b4714f055415d3db582c221707eccb69089998f2f5:560bfb55dbc4b71bf30fa8bbac35bf4fcac3aae6afde27fcae6644c6a98f2d3b&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9a933c536dd308dd9b256ede70d73145128539bd03a260ad483a8f9aa30e811c:4dd454200a6af81ea8c4f7784a660927f1a91dec2f6c57ab67ad5c97e34308f8&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:9a933c536dd308dd9b256ede70d73145128539bd03a260ad483a8f9aa30e811c:4dd454200a6af81ea8c4f7784a660927f1a91dec2f6c57ab67ad5c97e34308f8&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;aib_bronze.equity_ohlcv:fdca157cf28d7eaddc67d2b4714f055415d3db582c221707eccb69089998f2f5:560bfb55dbc4b71bf30fa8bbac35bf4fcac3aae6afde27fcae6644c6a98f2d3b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 103.3992777866059}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 4.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.29%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.288895454467879, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -4.288895454467879, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fd0b2ff995cca4b6ffdfcdd09eef46ff2f437ffb11390aa8b35974db1228533f:3d8b02872ac96f75f5a7704d1876ae16115dd38aee00ddabe599f8795dc875fc&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e679a955e08883df3f65ab3c4a5f5a3d169055d90369d61cef83bff4feb419af:1d7f43f60f07295ea1e61d1e03a2121bc3deae4a7befac8f08a6bf3b1843cb64&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:94b9a95003bfe2359b13fdbb6fb104e708584a7c7e4bce0a0e03d754a90a7103&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:4e523ee33c7fef358e16c530069975830ab82dc97b21374ce800462084b418e0:a088c8b912f9b1550aa7d234162f756f1bf38e66a8b357d8b6206c6960df2375&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:94b9a95003bfe2359b13fdbb6fb104e708584a7c7e4bce0a0e03d754a90a7103&#x27;, &#x27;aib_bronze.equity_ohlcv:e679a955e08883df3f65ab3c4a5f5a3d169055d90369d61cef83bff4feb419af:1d7f43f60f07295ea1e61d1e03a2121bc3deae4a7befac8f08a6bf3b1843cb64&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;aib_bronze.equity_ohlcv:fd0b2ff995cca4b6ffdfcdd09eef46ff2f437ffb11390aa8b35974db1228533f:3d8b02872ac96f75f5a7704d1876ae16115dd38aee00ddabe599f8795dc875fc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 90.35996499994495}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Front VIX at 0.89× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.888.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e503fb8d17f42316d387b15b7bed006223c570c037bab36a9528c260a01006dc:b9e99c9a349165915263a8e41f1ca0b7e06a9c5ef2b2f3d33ca87eb0c4a49bd2&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6ee975cf28c1a15f154356705335b8061792c58f5c7caba6fc6a80985eb6b1be:bdb97c288ccacd5278bcbc8c1c1d710cf384bc85ee6c037eb314b3b93f630ae3&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:096d554afda54a275b71c004a4298026813e307eabe68265ef78bbb86735fef3:f380c40273686e6c633556114da317bed3f0a29f35cc87c7046535d2796ceca2&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:db62ab0a17bf5d741556de247155cb6df9ea5689f3f6bb5e030e337d4b65710c:6c4717aab3b8c57d6165b750829306010b9ffcb8e643b638a9a47383d5fdd7a2&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:096d554afda54a275b71c004a4298026813e307eabe68265ef78bbb86735fef3:f380c40273686e6c633556114da317bed3f0a29f35cc87c7046535d2796ceca2&#x27;, &#x27;aib_bronze.equity_ohlcv:6ee975cf28c1a15f154356705335b8061792c58f5c7caba6fc6a80985eb6b1be:bdb97c288ccacd5278bcbc8c1c1d710cf384bc85ee6c037eb314b3b93f630ae3&#x27;, &#x27;aib_bronze.equity_ohlcv:db62ab0a17bf5d741556de247155cb6df9ea5689f3f6bb5e030e337d4b65710c:6c4717aab3b8c57d6165b750829306010b9ffcb8e643b638a9a47383d5fdd7a2&#x27;, &#x27;aib_bronze.equity_ohlcv:e503fb8d17f42316d387b15b7bed006223c570c037bab36a9528c260a01006dc:b9e99c9a349165915263a8e41f1ca0b7e06a9c5ef2b2f3d33ca87eb0c4a49bd2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;vix_vix3m&#x27;: 0.8884297520661157}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-16 06:27:47+00:00</li>\n<li>interpretation: Down 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.40%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.40177819666085135, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.40177819666085135, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-16 06:27:47.752000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b892e8d67de60d6956c79b92bd9c24c21d389d8b00aa02c5a7efb43d03ebc4da:9f4726f5f1bfe1da23f83de6ec2cf000a6f021cab16ea4ba07444e3c8e706dac&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6bbfa3a2c79b4b2c02bbd48901450684e1c0fff873730772e367fd9cab873b68:7f79414b56f8ac6b205e18dc0553adc44f4f716fb2ea9f8c10073bccbb0f1fc1&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8408697caf1c2c3ebf9662aa279b14c3952542f15f75e5982070a191bb3398fd:76aee55ab98a00227b2b8113e9e5b943d5572dff7b10a0be9a875e9cde66c91f&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:15caa251ffff1344655a42d8632aae7f5cd127b75493ec033613be9fbf3f25f3:a42ab25540ba98d13e9f5c10369247e4cbff783ad47b0b7aa2df81f70a75731d&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-15&#x27;, &#x27;reference&#x27;: 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&#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:1c3fdbd423343684432a09e31d7b42ff5f3aabb961b603e140a11b5d0f034d67&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:9f87d3ec5dc83c6b0c5b672bffdba2f22f20b8a9321d08dc1595c187dae6b622&#x27;, &#x27;symbol&#x27;: &#x27;BXSL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:6d922cdc4d1caecd2c4e9403d176ecaceaf148436acb29b26d83085d2ab19a78&#x27;, &#x27;symbol&#x27;: &#x27;LQD.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:03d1b4e98672f98067240bbd67e273fb846010e53668f7b6678ac1ed9c9246d4&#x27;, &#x27;symbol&#x27;: &#x27;OBDC.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0a3b24d21584e6fbca681b743e988893b825186b4045fce1fe649b2f5c4a58ec:6d922cdc4d1caecd2c4e9403d176ecaceaf148436acb29b26d83085d2ab19a78&#x27;, &#x27;aib_bronze.equity_ohlcv:15caa251ffff1344655a42d8632aae7f5cd127b75493ec033613be9fbf3f25f3:a42ab25540ba98d13e9f5c10369247e4cbff783ad47b0b7aa2df81f70a75731d&#x27;, &#x27;aib_bronze.equity_ohlcv:32fc3433423e60f0b3763485fa452c4a0c0fb4155c44dd0c96bd8933f828668d:1c3fdbd423343684432a09e31d7b42ff5f3aabb961b603e140a11b5d0f034d67&#x27;, &#x27;aib_bronze.equity_ohlcv:340fbb3843892bacf489ae8c0f8147232ac700487ba7ff98155154e870100a2a:1b6f4927f87fe1e7fee1924a2591f411a65be2ab863729c069ba06ad738c1d95&#x27;, &#x27;aib_bronze.equity_ohlcv:4b75261f1393603e430e77a732da9af9e95bfea66f15b87aa13d3c688550da2b:03d1b4e98672f98067240bbd67e273fb846010e53668f7b6678ac1ed9c9246d4&#x27;, &#x27;aib_bronze.equity_ohlcv:658ba4fd099bcaabbd66bbb7e247451256f0caa377bd2af188801ef43564832f:5d83b466e7d4fba44794a45f54c0e3eea30f611b777dc2615f850ea673ec75db&#x27;, &#x27;aib_bronze.equity_ohlcv:6bbfa3a2c79b4b2c02bbd48901450684e1c0fff873730772e367fd9cab873b68:7f79414b56f8ac6b205e18dc0553adc44f4f716fb2ea9f8c10073bccbb0f1fc1&#x27;, &#x27;aib_bronze.equity_ohlcv:8408697caf1c2c3ebf9662aa279b14c3952542f15f75e5982070a191bb3398fd:76aee55ab98a00227b2b8113e9e5b943d5572dff7b10a0be9a875e9cde66c91f&#x27;, &#x27;aib_bronze.equity_ohlcv:84814dbf46f9c84bb79193031cfaef220a3a5ef7aaef90e0412632344f944ad5:751af3733e749f3134afa1b12aac2aac4bb7a007644ba3792e511636525d411f&#x27;, &#x27;aib_bronze.equity_ohlcv:869bfb6097e552efc1087b6323aac38dd028de1a4c442ffca2c60b16ceef2779:95a785a776afb7d9dfcbbf73b61822db26152785c4cd5e4891dabb6f0a6f1dd1&#x27;, &#x27;aib_bronze.equity_ohlcv:b892e8d67de60d6956c79b92bd9c24c21d389d8b00aa02c5a7efb43d03ebc4da:9f4726f5f1bfe1da23f83de6ec2cf000a6f021cab16ea4ba07444e3c8e706dac&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:9f87d3ec5dc83c6b0c5b672bffdba2f22f20b8a9321d08dc1595c187dae6b622&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 107.43296743807132}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-15 / 2026-09-15 19:26:06+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,005B (conditional on an IPO), -17.09% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $4,093.; Probability-weighted bucket midpoint: $1,005B.; Seven-day implied-cap change: -17.09%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -17.09125608432257, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.038, &#x27;full_set_prob_sum&#x27;: 0.989, &#x27;implied_cap_change_7d_pct&#x27;: -17.09125608432257, &#x27;implied_cap_usd_b&#x27;: 1004.9342105263158, &#x27;ipo_by_2026_prob&#x27;: 0.047, &#x27;no_ipo_by_2026_prob&#x27;: 0.951, &#x27;volume_24h_total&#x27;: 4092.939542}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-15</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-15</td><td class=\"num\">163,862</td><td class=\"num\">24</td><td class=\"num\">0.7395</td><td class=\"num\">22.84</td></tr>\n<tr><td>CISO</td><td>2026-09-15</td><td class=\"num\">725,980</td><td class=\"num\">24</td><td class=\"num\">-1.299</td><td class=\"num\">-4.157</td></tr>\n<tr><td>ERCO</td><td>2026-09-15</td><td class=\"num\">1,766,426</td><td class=\"num\">24</td><td class=\"num\">-0.1731</td><td class=\"num\">17.58</td></tr>\n<tr><td>PJM</td><td>2026-09-15</td><td class=\"num\">2,284,173</td><td class=\"num\">24</td><td class=\"num\">-1.353</td><td class=\"num\">1.042</td></tr>\n<tr><td>SOCO</td><td>2026-09-15</td><td class=\"num\">812,536</td><td class=\"num\">24</td><td class=\"num\">0.06818</td><td class=\"num\">17.83</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">39.65</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">36.08</td><td class=\"num\">0</td><td class=\"num\">-3.569</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">34.96</td><td class=\"num\">0</td><td class=\"num\">-4.687</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.802</li>\n<li>as of: 2026-09-15</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: 0.4082</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-15</td><td class=\"num\">30.26</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-11.78</td><td class=\"num\">-1.006</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>revised_in_bronze</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>250 benchmarked model identities; 200 have an exact catalog match. 8 ambiguous benchmark entries remain flagged and are excluded from the excerpt below.</p>\n<p><strong>Artificial Analysis — Intelligence Index.</strong> Higher reported scores first; each row preserves the evaluator&#x27;s configuration label. The benchmark version is not reported. These results do not measure full workflow economics.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Model capability, cost and demand table\" tabindex=\"0\"><table><caption>Model capability, cost and demand</caption><thead><tr>\n<th scope=\"col\">Tested configuration</th><th scope=\"col\">Index</th><th scope=\"col\">Listed input / output per million tokens</th><th scope=\"col\">Reported tokens</th>\n</tr></thead><tbody>\n<tr><td>Claude Fable 5.1 (Adaptive Reasoning, Max Effort, Default Fallback)</td><td class=\"num\">53.4</td><td>$10 / $50</td><td>≥ 819,261,143,221</td></tr>\n<tr><td>Qwen3.8 Max</td><td class=\"num\">53.4</td><td>No unique catalog match</td><td>≥ 845,714,442,752</td></tr>\n<tr><td>GPT-6 Astra (max)</td><td class=\"num\">52.8</td><td>$10 / $50</td><td>≥ 1,066,346,951,116</td></tr>\n<tr><td>Claude Opus 5 (Adaptive Reasoning, Max Effort)</td><td class=\"num\">50.7</td><td>$5 / $25</td><td class=\"num\">6,307,036,406,962</td></tr>\n<tr><td>Claude Fable 5 (Adaptive Reasoning, Max Effort, Opus 4.8 Fallback)</td><td class=\"num\">49.7</td><td>$10 / $50</td><td>≥ 569,388,201,847</td></tr>\n<tr><td>GPT-5.6 Sol (max)</td><td class=\"num\">47.1</td><td>$2 / $10</td><td class=\"num\">7,220,843,082,325</td></tr>\n<tr><td>Qwen3.8 Max (0902)</td><td class=\"num\">45.4</td><td>$2 / $6</td><td>≥ 546,781,361,797</td></tr>\n<tr><td>GLM-5.3 (max)</td><td class=\"num\">44.9</td><td>$1.4 / $4.4</td><td>≥ 8,076,821,076,050</td></tr>\n</tbody></table></div>\n<p>Showing 8 of 99 eligible configurations.</p>\n<p>Usage window: 2026-08-17 → 2026-09-15. OpenRouter public routed traffic excludes private and zero-data-retention traffic. A missing daily top-50 entry is unreported, not zero; ≥ marks a lower bound. Listed prices come from the selected catalog snapshot, not historical executed prices.</p>\n<p>Hub links establish access evidence only; licensing and open-versus-closed classification remain unverified.</p>\n<p>Sources: <a href=\"https://artificialanalysis.ai\" rel=\"noopener noreferrer\">Artificial Analysis</a>, via OpenRouter; <a href=\"https://openrouter.ai/rankings\" rel=\"noopener noreferrer\">OpenRouter rankings</a> (aggregate usage: CC BY 4.0).</p>\n<p>&lt;details&gt;&lt;summary&gt;Model evidence provenance&lt;/summary&gt;</p>\n<p>``<code>json { &quot;calculation_version&quot;: &quot;af3779ec6cbf3911246e8fe74caf8ff20f886255a87bde6af5afe00c24e71206&quot;, &quot;knowledge_cutoff&quot;: &quot;2026-09-16 23:59:59+00:00&quot;, &quot;panel_id&quot;: &quot;49e22fa5a50625adbecdefd28f226e6a582c915558198f8cf119e211e41b8a75&quot;, &quot;selection&quot;: &quot;First eight unambiguous Artificial Analysis Intelligence Index configurations, descending score; ties by source label and record ID.&quot;, &quot;selection_version&quot;: &quot;30a0afddda0f95664fba0c3d1ad2ed8425d2a67b5f1a22709b9c45e69565d02f&quot;, &quot;snapshots&quot;: { &quot;openrouter_benchmarks&quot;: { &quot;content_fingerprint&quot;: &quot;1e813c14ba76ea10b6fd2d5b485d9a78e2ef011e6b335db57610a76487b6d424&quot;, &quot;dataset&quot;: &quot;openrouter_benchmarks&quot;, &quot;document_ids&quot;: [ &quot;3479e195b8a8e6fdc756ce874d62c4b9f5dea6bb793b5a7e71e4eb881dd57f95&quot; ], &quot;limitations&quot;: [ &quot;evaluator_and_metric_scales_are_distinct&quot;, &quot;benchmark_version_not_reported&quot;, &quot;search_selects_best_qualifying_configuration&quot;, &quot;benchmark_cost_not_full_workflow_cost&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-16 06:25:47&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-16 06:26:06&quot;, &quot;record_count&quot;: 1518, &quot;records_hash&quot;: &quot;5d0b3facac749b03edf4b345c4a874e51179800f105e189ee6e69cb95959cdf2&quot;, &quot;snapshot_id&quot;: &quot;7a30865d57febede5199b1e37e9982827ea0011b4aacf9c841d4f5d054464844&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_performance&quot;: { &quot;content_fingerprint&quot;: &quot;bdc5866802dd1b088933511cef0a74614763a5d2f976c6b5e11819ad4c18f174&quot;, &quot;dataset&quot;: &quot;openrouter_performance&quot;, &quot;document_ids&quot;: [ &quot;6f1606d39ff599434b41ebc7043516038de3dc05ab7525e94f42156bf47f442e&quot;, &quot;23b7c6c5d718e7732c9215569367815e60b8afc9c8fc470a0799d744e1fdc7f6&quot;, &quot;353dc04d68ecf0db2fa467ff6a504ca21cd3f08457311dd4e9b9ca7fca685972&quot;, &quot;1269ba6e064046ca37f20d9760b6ca2cbb1a55e894b44e3737c99a290c18a731&quot;, &quot;3627a52fdee5774d4969dadcae133c786045a2742fbb2e6c158355ffcddd2656&quot;, &quot;3b03dee5354af6bdbbfb49784a79911969a225c05a9215a44f74272b0c5cedc4&quot;, &quot;75283e59db828ac063843e5b26e18a92a84c4785080433857429361b23e45313&quot;, &quot;93b47d41d7f6ea8964551336b50135bbe2b33f2357879bff39583d33985ca682&quot;, &quot;c7cc03a8304990ae7b4ea0c3da465873e7aab306635015009f415e66bac25508&quot;, &quot;cf3de115c4df83d6ccf3450525621d47d56ffb06651d3e0cce8ad9bfb435cbf7&quot;, &quot;a30bc7ced0b63786d95ae7ea6b583005755c975b385cfb229402a57a0758d2e9&quot;, &quot;3e317b91ff8c3afdf87e92961eac68b8f1b4854a11992b45a6a1e8971b8c8ef0&quot;, &quot;739746d22a489970223fb3c4f5110fcf933459171e8338eb16697b9e94d5a1fe&quot;, &quot;89e5b84a547eb4c96d37970f908500535ff6e6c067fd65642e0f5b0446827969&quot;, &quot;5c61b3ab260de9c2efa3f96461e8737a31f0932cb3d2083e5039202cde73c8c9&quot;, &quot;2c59f13ca40cd2076869b72fbbd5b890da8d96381c848796b238a88e1181f546&quot;, &quot;3a65fe0975c10a68e001341b16d2dcc2f384400ea3a800328537a6aec7eb6b5f&quot;, &quot;9b5bfdeb483a6d490958aa5c27acc8dffe56ed52552a55b74d3ae92e7aeb0445&quot;, &quot;020f97fb607db777e2f08579bab8972f6f4313c378d3a1b3e45fe6dc374b1325&quot;, &quot;8335fc9e27f0c6b08e43b30ee3d4607935c435c1c298e461bef31cdaca51301d&quot;, &quot;17b717560320300f296626feaf911f6024194d8826d29e297c0b41f8e41552fa&quot;, &quot;02e852c49927bd23020a4698869cb15af3575988dd2a4f395404c499d11dabbd&quot; ], &quot;limitations&quot;: [ &quot;selected_top20_catalog_matched_standard_models&quot;, &quot;short_window_snapshots_not_daily_averages&quot;, &quot;latency_source_unit_not_verified&quot;, &quot;catalog_price_not_realized_spend&quot;, &quot;hub_link_is_not_verified_open_source_rights&quot; ], &quot;observed_at&quot;: &quot;2026-09-16 06:26:15&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-16 06:26:38&quot;, &quot;record_count&quot;: 743, &quot;records_hash&quot;: &quot;de2b34c754fb33f44cc02d2687ec92e9e454988d9a9c3a28bf2882a99c7df25b&quot;, &quot;snapshot_id&quot;: &quot;ef77a0b1b475de2fc41c3ae3f0df723750289f3a8ac0f0a02ef2ef7b1260ad14&quot;, &quot;source_version&quot;: &quot;catalog-and-top20-v1&quot; }, &quot;openrouter_rankings&quot;: { &quot;content_fingerprint&quot;: &quot;94b36236e85929be39041e32c26df645924f21611b94b62798fb78287e344a3c&quot;, &quot;dataset&quot;: &quot;openrouter_rankings&quot;, &quot;document_ids&quot;: [ &quot;155eeedbb85e47558e5f8795f57399fafb2c3b8b593fbeff2fbb54f5b8b62146&quot; ], &quot;limitations&quot;: [ &quot;public_traffic_excludes_private_and_zdr&quot;, &quot;daily_top50_variants_plus_other&quot;, &quot;outside_top50_is_censored_not_zero&quot;, &quot;provider_tokenizers_differ&quot;, &quot;source_may_shorten_requested_window&quot;, &quot;no_historical_receipt_before_collection&quot; ], &quot;observed_at&quot;: &quot;2026-09-16 06:25:49&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-16 06:26:07&quot;, &quot;record_count&quot;: 1530, &quot;records_hash&quot;: &quot;79a25990c9d732b2a32fc77f59269c93e226095f602590b66fcd894d0aa03ec7&quot;, &quot;snapshot_id&quot;: &quot;9ad70776b9784746a8e98f2b40ea7fd6bb17ebda0c92d6ce94514478eb876fd2&quot;, &quot;source_version&quot;: &quot;v1&quot; }, &quot;openrouter_workloads&quot;: { &quot;content_fingerprint&quot;: &quot;ec8c4e76a2bd72c20e15b0ea5bb1afe5cc4e35e7553b2f640c29a5cbf29c3d38&quot;, &quot;dataset&quot;: &quot;openrouter_workloads&quot;, &quot;document_ids&quot;: [ &quot;07fd43b347b2d8fec6d40dc51e6ed9abb0c5dc8179b0e365a87df7f9de967032&quot; ], &quot;limitations&quot;: [ &quot;sampled_relative_shares_not_absolute_volumes&quot;, &quot;trailing_seven_day_window&quot;, &quot;classification_is_not_successful_work&quot;, &quot;model_lists_may_be_partial&quot; ], &quot;observed_at&quot;: &quot;2026-09-16 03:32:59&quot;, &quot;parser_version&quot;: &quot;f23f32552c04c28fafb1b17428ef6ea8f5fd98067bbf248e17dd45fd74e52a78&quot;, &quot;partition_key&quot;: &quot;public-v1&quot;, &quot;published_at&quot;: &quot;2026-09-16 03:32:59&quot;, &quot;record_count&quot;: 29, &quot;records_hash&quot;: &quot;f02a9534243e1c3cdbe9e54e61e671c9a378ac7791b314fed6e2473e9cc91c89&quot;, &quot;snapshot_id&quot;: &quot;c10845a1abc13565b492534411b3f11b49f205679da97a8608685690234244dd&quot;, &quot;source_version&quot;: &quot;window-7d&quot; } } } </code>``</p>\n<p>&lt;/details&gt;</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-16 21:04:31</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">8</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>error</td><td class=\"num\">0</td><td>2026-09-16 05:20:06</td><td>—</td><td>MissingAnchorConfigurationError: External integrity gate unmet: configure AIB_ANCHOR_BUCKET, AIB_ANCHOR_BUCKET_OWNER, AIB_ANCHOR_KMS_KEY_ARN</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">6</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">3</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-16 06:25:54</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-09-16 23:18:00</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-16 23:11:20</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3324</td><td>2026-09-16 06:27:52</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">585</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">5605</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">233</td><td>2026-09-16 21:42:00</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-16 23:57:12</td><td>—</td><td>partial: PJM: gridstatus PJM DA fetch failed: 403 Client Error: Forbidden for url: https://api.pjm.com/api/v1/da_hrl_lmps?fields=congestion_price_da%2Cdatetime_beginning_ept%2Cdatetime_beginning_utc%2</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">24008</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">41629</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">520</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">443</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">564</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">5</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>ok</td><td class=\"num\">1518</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_performance</td><td>ok</td><td class=\"num\">743</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_rankings</td><td>ok</td><td class=\"num\">1530</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_workloads</td><td>ok</td><td class=\"num\">0</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-16 06:25:41</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-16 05:10:07</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">7348</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-09-16 06:25:41</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: chain_anchor, policy_events</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-17T05:42:47Z",
      "id": "urn:prexel:issue:55ed388c-f269-5958-99a9-d012695353d3",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 25 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-16-daily-c8c5cad30d34.html"
    },
    {
      "_prexel": {
        "content_hash": "1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad",
        "context_hash": "06f339897c8b6f066f91cca2e68b28638a8537806660f296a4bb188aebca288c",
        "kind": "daily",
        "period_end": "2026-09-15"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-22 05:57:30.836000 · correction <code>ce80964a362c186101f5fb142e201241b7b21b1035b8db62493db1041661e156</code> · hash <code>aa0fe5f726ec373ff4bc02501d0e1d34488805bd27a1afbb7e9ddd9cc8ceba28</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-21 01:56:32.522000 · correction <code>134080b6f3351d341e1a1da734f3b7a4f9af03db1754643827a80a760841b1aa</code> · hash <code>aefb1ff3e2c9eb409f6cd4bd99c345f72d78dc03260e5af556774bf5d121e6dc</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45.522000 · correction <code>57bfd5709bfa5f2d1c27937ad8d0fc6cbc03910f716e9e893230490378591192</code> · hash <code>243600d61919104eb7943b5b1c5653805972eb7d191f5b79bbaa9e36f41ffb9c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-20 13:53:45.522000 · correction <code>0ee45e619660a51d62b7bfe6d140c522447c4a9e467b6d1b9fba6d607f8a9e61</code> · hash <code>86a1faca81c8d32638be5a11ffe3619b0f85a6095384f15b7f405c6945a98f32</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05.085000 · correction <code>ba644e392fdaea0c19261ad3867e83bf6e46e8bccb659795150268bad55d22cf</code> · hash <code>280c9da33abaf916a2104a78e1b7443ffa631195c0e238e5882d6a2aa8de5106</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05.085000 · correction <code>918b4661fc7813745bbfa648459b3f75f693f209fb8d309d03e3b51ff190def5</code> · hash <code>f5d95e128f2e442315c110c1fa08ccd01787a78b8c46801472e80d180ad6fa69</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>1eec2e14ee9162d7fbff5302e4511f61be1fba4d41fb9b6263bf1f14b8e8b1ad</code> · effective 2026-09-18 04:22:05.085000 · correction <code>839994a46d4d8ff1ee38912f8fa0d8831a46862109b2ccaf3c2c284300e904ed</code> · hash <code>1051f8c7226187dc9427de869c9b30251bbab8fe8deb193fd553c5cf33c9561a</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 24 (daily)</h1>\n<p>Period: 2026-09-15 → 2026-09-15</p>\n<p>Context hash: <code>06f339897c8b6f066f91cca2e68b28638a8537806660f296a4bb188aebca288c</code></p>\n<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>23 observation-level correction records are also retained in the machine-readable correction ledger.</p>\n<ul>\n<li><strong>corrected</strong> · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>01822c379d79fc2a90b6e2a763d681fccecedf3327c560178d314d774ca4e6f3</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c7b5e73b2f8e67d4b0ec9386536e70bc900e154562f858533a9eab83e722f29f</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cd920d0c89feae9abc05632ad95a3ad5f36926e78e43b5f60a41a8abf3a42677</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>52f9dfa0006469319b1ae41721a8a9c99afb9936d2b0338b63515eef82b10776</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · 2026-09-15 06:40:47: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>cef_nav_daily/DXYZ/2026-08-28/legacy_date_join</code> · 2026-09-15 04:06:58: The 20:02:19 UTC filing was unavailable at the 20:00 UTC close. At a $34.74 close, the admissible $24.56 NAV gives a 41.4495% premium, replacing 1.2828% based on the later $34.30 NAV. This correction is published now; it does not backdate a retained source receipt.</li>\n</ul>\n<p>Correction hash: <code>df6f2c9e0aa95b73426b322517bc97ea57c21125d703d17c44329fb1c5d7e601</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>c15ac1a7c457b77354415454eb7fdd0b52bea70286d708d9e95157a3eac3bbea</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>b574a32073de101173ca3613d94fe81e24891fd8cffff3b7252a1184b2a002d5</code>.</p>\n<ul>\n<li><strong>withdrawn</strong> · <code>e587d540-b100-53fc-a672-8866755504c6</code> · 2026-09-15 04:06:58: The DXYZ mechanical forced-sell claim is withdrawn. $30,450,945.15 was excess unsigned turnover, not evidenced compelled selling. Neither direction nor notional is established; its event-date knowledge timestamp is invalid. FT_CEF_NAV emission and dependent opportunity creation are disabled.</li>\n</ul>\n<p>Correction hash: <code>303bcf497be5ca9076268a20ffc784ebbc33785fd69e6f82e745c6eff10c4f61</code>.</p>\n<ul>\n<li><strong>corrected</strong> · <code>b7789873fefa1373782e172c9a8c4e3596f0515bb5ff833432ae48b4b44b8464</code> · 2026-09-15 04:06:58: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Correction hash: <code>db55815479ff32ea1a90bbef345af30d7ddfd0f6d42c537128ca01dadaf0bca7</code>.</p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>B200 vs H100 rental price: ⊘ No read — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>GPU rental availability: ⊘ No read — GPU rental-provider pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>GPU marketplace depth: ⊘ No read — GPU rental lessor pricing power (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>H100 spot rental price: ⊘ No read — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Inference demand concentration: ▼ Bearish — durability of routed inference demand (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Inference price cuts (like-for-like): ⊘ No read — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Open-weights token share: ⊘ No read — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — scarcity of dispatchable power net of fuel in CAISO (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Data-centre load premium: ▼ Bearish — excess PJM load growth attributable to data-centre buildout (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Dominion (N. Virginia) electricity demand: ▲ Bullish — Dominion-zone electricity demand as the ground-truth NoVA data-centre load read (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>PJM electricity demand: ◆ Mixed — PJM electricity demand (Near term); Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — near-term PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); New evidence; Interpretation rule changed; Evidence eligibility changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-09-15T04:56:53.160446+00:00.</li>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ▼ Bearish — US equity breadth relative to capitalization-weighted equities (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish — utilities repricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>AMD earnings surprise: ⊘ No read — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Amazon earnings surprise: ⊘ No read — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Meta earnings surprise: ⊘ No read — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Microsoft earnings surprise: ⊘ No read — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>NVIDIA earnings surprise: ⊘ No read — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Oracle earnings surprise: ⊘ No read — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Implied OpenAI valuation: ▼ Bearish — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Source correction; Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>B200 vs H100 rental price: ⊘ No read — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>GPU rental availability: ⊘ No read — GPU rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>GPU marketplace depth: ⊘ No read — GPU rental lessor pricing power (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>H100 spot rental price: ⊘ No read — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Inference demand concentration: ▼ Bearish — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Inference price cuts (like-for-like): ⊘ No read — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Effective inference price: ◆ Mixed — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Open-weights token share: ⊘ No read — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>CAISO day-ahead power prices: ▼ Bearish — California day-ahead power prices relevant to data-centre siting (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>CAISO implied heat rate: ▼ Bearish — scarcity of dispatchable power net of fuel in CAISO (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Data-centre load premium: ▼ Bearish — excess PJM load growth attributable to data-centre buildout (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Dominion (N. Virginia) electricity demand: ▲ Bullish — Dominion-zone electricity demand as the ground-truth NoVA data-centre load read (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ▼ Bearish — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>PJM electricity demand: ◆ Mixed — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — near-term PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>BDCs vs investment-grade credit: ◆ Mixed — listed BDC pricing relative to investment-grade credit (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-09-15T07:37:25.831957+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 51 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 28 usable / 23 no read — 9 bullish, 12 bearish, 7 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 6</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 1 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n<li><strong>Review queue:</strong> ORACLE — Capex commitment.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ⊘ No read</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU rental availability — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU marketplace depth — ⊘ No read</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no complete day of data yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:35:41+00:00</li>\n<li>interpretation: Up 8.7% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.72%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 8.715475263089001, &#x27;window&#x27;: &#x27;seven_snapshots&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.715475263089001, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2519901593, &#x27;total_tokens&#x27;: 157504323443545}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:35:58+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.11pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 80.5%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: 2.1058121737282818, &#x27;window&#x27;: &#x27;change_14d&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 80.5141977354052, &#x27;top10_share_change_14d_pp&#x27;: 2.1058121737282818}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: The fixed-basket price is $0.768/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ◆ Mixed</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:35:58+00:00</li>\n<li>interpretation: The effective inference price is inside its registered 7-day band.</li>\n<li>evidence: Seven-day effective-price change: -4.12%.; Token-weighted effective price: $0.723/Mtok.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day effective-price change crosses the opposite 8% band.</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; source records not yet linked; token-weighted blend across models</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 8.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -4.123271338652989, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 8.0, &#x27;effective_price_change_7d_pct&#x27;: -4.123271338652989, &#x27;effective_price_usd_mtok&#x27;: 0.7228378507820743, &#x27;matched_model_count&#x27;: 320, &#x27;total_standard_tokens&#x27;: 116638744365041, &#x27;unmatched_token_share&#x27;: 5.905227816460796}</li>\n</ul>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-07 10:48:07+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 25.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 83.63636363636364, &#x27;window&#x27;: &#x27;rate_3mo_vs_prior_12mo&#x27;}, &#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.333333333333332, &#x27;listing_rate_change_pct&#x27;: 83.63636363636364, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 101, &#x27;trailing_3mo_rate&#x27;: 33.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: Open-weights models carry 49.8% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-13 16:00:00+00:00</li>\n<li>interpretation: Up 53.3% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 53.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 10.099818994181083, &#x27;source_period&#x27;: &#x27;2026-08-01&#x27;, &#x27;value&#x27;: 514805337000.0, &#x27;yoy_pct&#x27;: 53.320053714712955}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▼ Bearish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:35:49+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially above their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $71.43/MWh vs prior 14-day $46.97/MWh (+52.1%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 52.076596072341566, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 71.42579822128852, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 46.966989047619045, &#x27;caiso_da_trend_pct&#x27;: 52.076596072341566}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▼ Bearish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:35:49+00:00</li>\n<li>interpretation: CAISO power is getting materially more expensive net of fuel — dispatchable scarcity is building.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 25.31 MMBtu/MWh vs prior 14-day 16.41 (+54.2%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 15.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 54.17984422809315, &#x27;window&#x27;: &#x27;mean_7d_vs_prior_14d&#x27;}, &#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 25.307424463337426, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 16.41422365552381, &#x27;caiso_heat_rate_trend_pct&#x27;: 54.17984422809315, &#x27;gas_print_max_lag_days&#x27;: 4}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▼ Bearish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:35:49+00:00</li>\n<li>interpretation: PJM load growth is materially lagging the CISO/ERCO controls — no excess growth attributable to data-centre buildout.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +17.99% vs control mean +20.77% (gap -2.77pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;pp&#x27;, &#x27;value&#x27;: -2.7724284279955818, &#x27;window&#x27;: &#x27;yoy_gap_7d_mean&#x27;}, &#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: 23.393301972258453, &#x27;dc_load_premium_pp&#x27;: -2.7724284279955818, &#x27;erco_load_yoy_7d_pct&#x27;: 18.139505796229855, &#x27;pjm_load_yoy_7d_pct&#x27;: 17.993975456248574}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:35:49+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +25.59% (n=5)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 3.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 25.58633110171197, &#x27;window&#x27;: &#x27;yoy_7d_mean&#x27;}, &#x27;band_pct&#x27;: 3.0, &#x27;nova_load_yoy_7d_pct&#x27;: 25.58633110171197, &#x27;nova_load_yoy_window_obs&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Down 11.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -11.14%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -11.142066482190094, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -11.142066482190094, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 3, &#x27;numerator&#x27;: [&#x27;CCJ.US&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;BWXT.US&#x27;, &#x27;URNM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-15 04:56:14.074000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1c4ec19adc83587e8de98474eae8d2706fcba9db7f3c64dd8efa28468a1b56f1:429cd9477b880352a0835626d1be62a9800f9cf1bc8272f2ad81201ef05ecd19&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:84c3384a1cf6621d5ca8fb482d438803d6676fedff7d0b667ddff8826d389675:c1447d5a0983e99b2e6a2b5c2e84ca3ab57880bc7d701c992154a398af2c5f74&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:429573d8b9e5ca41c9c1add6680fc6d828cffc436c0b6c94003b5caf7778ed0e:2c6c67ecdee66d7613c9a06071733896108ae55d8a967150675c6b9d0a50608f&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0863e33afe9397d09f71a0219254a9f7c6abc43e4923ea27d3ad58ad44961715:e0e527f236d78780bd3230fe2bbca2337b47be657a5e019562756c8458aca408&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4638ab3b43b6d79170959332bcf309b5fd573564257e10a9a46a6db91638fb26:2b0d5d0f33f8c3802bfcc7963d55ebf0b7806faf87e52e73f52b7052bbfe054e&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e3882611f68e1d9a34c6a93efdba3dc57e422d427bf417d47adafd0523c7546e:e2aee65072d0861b7fa6cfbef7bf886624f346b27e0652a5333e64cad76bc128&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b95bae3d68ff396faf16e3e5608433943c5b1dfee52b4c8aeed48d44d0e008c7:ed11c03e2a96b7455c7c408d8e4c980693534898e7ee266fc554797141e2e22d&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f11c9ef03a8e5c590891c73f45d82d179dbbfb96748b2bda12832233afe48062&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f22751b43179274c348fe25d6a7a4855d55c8e086a175323c0ccefc0c5b47164:8085456a0284e0ab110f40a0af83a8cbb848294e04a34322111b76eae3a5df00&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:afeb4d22fb2d5a9281ce54782333e55576dc19cd9f4d55fcf7881f5088638fc8:621ef6afeb7e98b57c6bceb00cb139d955a688a4fddeef1bf048cf0f8e618579&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:7babf5155098a199cf801af13825bc6c1cf8b9b14bf15a34168b2ec9461c361c:e2db92cac8de5df7487691471d95dcdeed4efc3dd50f9561ab54db00cea2db11&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3cfbb38dfbd57c60d69bfa21705de845427a4cca046279edc9ada8a56091f13b:e479d93b56397b0a637027e4f1d120d0547a6259f9cf44159655961c47b22025&#x27;, &#x27;symbol&#x27;: &#x27;BWXT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:67300f42b542ef8430e220c5495c0edf4d17e6cceb1939573cbb94dd0c0a8da0:4fdd910af0c9f1295577d1ebf5a2c8f4a40b575fa0973a13ee684d114a3ebe6c&#x27;, &#x27;symbol&#x27;: &#x27;CCJ.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;symbol&#x27;: &#x27;LEU.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;, &#x27;symbol&#x27;: &#x27;OKLO.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0fb880f9304f38381163395c0833f292e4a728dc192cd11510399fc9b60680d5:6cd899b986286d406d54342c5b305b4d216f93b61b3f58a64447b9d44f1b63be&#x27;, &#x27;symbol&#x27;: &#x27;URNM.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0863e33afe9397d09f71a0219254a9f7c6abc43e4923ea27d3ad58ad44961715:e0e527f236d78780bd3230fe2bbca2337b47be657a5e019562756c8458aca408&#x27;, 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&#x27;aib_bronze.equity_ohlcv:afeb4d22fb2d5a9281ce54782333e55576dc19cd9f4d55fcf7881f5088638fc8:621ef6afeb7e98b57c6bceb00cb139d955a688a4fddeef1bf048cf0f8e618579&#x27;, &#x27;aib_bronze.equity_ohlcv:b95bae3d68ff396faf16e3e5608433943c5b1dfee52b4c8aeed48d44d0e008c7:ed11c03e2a96b7455c7c408d8e4c980693534898e7ee266fc554797141e2e22d&#x27;, &#x27;aib_bronze.equity_ohlcv:e3882611f68e1d9a34c6a93efdba3dc57e422d427bf417d47adafd0523c7546e:e2aee65072d0861b7fa6cfbef7bf886624f346b27e0652a5333e64cad76bc128&#x27;, &#x27;aib_bronze.equity_ohlcv:f1a4182dd33837140a1c078a21e9e113541580f17a60fc01e9e79c7607b64a7f:67d6ae2583ac46d6a752c21704d1d8cea3f46d1d3d53156cb047df471150fb24&#x27;, &#x27;aib_bronze.equity_ohlcv:f22751b43179274c348fe25d6a7a4855d55c8e086a175323c0ccefc0c5b47164:8085456a0284e0ab110f40a0af83a8cbb848294e04a34322111b76eae3a5df00&#x27;, &#x27;aib_bronze.equity_ohlcv:f37cf4be570ed6b975614fc8ada57a0e02e2a79ffa05630b7d6cb96cc70d5daa:9804a4346e4bccd6e98114662ea577fda8bce7b38569879c634cd6e336301771&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 59.42071770281553}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:35:49+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.415</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: True, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;z&#x27;, &#x27;value&#x27;: -0.4154899402663117, &#x27;window&#x27;: &#x27;weekday_baseline&#x27;}, &#x27;dc_load_anomaly_z&#x27;: -0.4154899402663117, &#x27;dc_load_growth_yoy&#x27;: 4.72910762185007}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Down 9.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -9.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -9.34471394992682, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -9.34471394992682, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;IRM.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-15 07:36:55.156000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:2bea296d291fbc681b30a410f53b664f7f75a7817c689d2350b2e9acbd6ed599:6d4a5b7656b3e1fe7882799ef0ac60eeb3125b6a8f8403852ded8c7ee2f519c3&#x27;, &#x27;aib_bronze.equity_ohlcv:32723f5f49e885dac7fc24551dc14975b11ae12efa4a2911c749ad140620f9b2:388d22c787a84d8674c87df46af2f02e9f0450618e54ce25bfcfc65fbf75e527&#x27;, &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f11c9ef03a8e5c590891c73f45d82d179dbbfb96748b2bda12832233afe48062&#x27;, &#x27;aib_bronze.equity_ohlcv:3ed11817d61c37ba31d143b5ac9377ddc5cdee620991cffb688341cb6cf96b7b:2c54ed2fb99de9376124f1ed0a9a62d3b99ab775bafcb8a0c3f750e1fb70378a&#x27;, &#x27;aib_bronze.equity_ohlcv:4fd13eee339161478c9d7b8a2fd06cfb18a050533f077bfe3085ab7d1176ede8:1e021fa8331175c2024184b71cbab9a9a11410fb61930365bbfcab98b9989382&#x27;, &#x27;aib_bronze.equity_ohlcv:5949f310b6fcf3a98cd5d3eb7600a56233b06621fd8a14fb6746c1bf9c9b37aa:0e98aaf6a49dbb4acfb6280195ca5f7fba1a45c2fab48fbe17795ee34ee570dd&#x27;, &#x27;aib_bronze.equity_ohlcv:a4f54409f94b3eb7d6180e3805dfcaef2b38952e2eda3fdbdb75fbf70499eeb6:06eded09a5519c167fd93f8c7340d2715d460390634fe1d025c4a04d400f5b4f&#x27;, &#x27;aib_bronze.equity_ohlcv:bd1b2505bab4a1d14980caa2b5c33d026697a998f56cee8ad5dd036ccf5ad352:ac4ef0495a154809afb2530ecfadb90717d537cb754953085c659f11238de178&#x27;, &#x27;aib_bronze.equity_ohlcv:ca7849bb0c14508ff5c7c4beaebc490a498e8be06baaed2f100de326721ac1af:bbb7c662ca304ef502b0ac274aead04fd44bf0cb60fd1383d95279f42e593124&#x27;, &#x27;aib_bronze.equity_ohlcv:e674cc607f6378aabbb1c821ebdafe03a4924ea6d6ed5bee26ea9fd017faaad2:a96a5eb78b7481542000dd0e05e9b23fb296c6e2af2a1dc1a636e29cf56c0144&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 109.8546389886612}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Up 3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.61%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 3.6065894953696054, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 3.6065894953696054, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 4, &#x27;numerator&#x27;: [&#x27;MSFT.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;AMZN.US&#x27;, &#x27;META.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-15 04:56:14.074000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a3c369270ff82c4429c5bf50037b01dece876a75b145624ac46a9384f76d4712:5c146d3193bc8b484709d87f64f874716f3e0ebe47c6dcf150ef3ff6ae3d41bd&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1832a9b3fc73c311328ea3fee577edda891d001d11b14005e367b4af55724de3:39f22003a4d0606d8d3f9d91344d968eee45b822b281992a2e538ad6280d0253&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f7ddcbd29649d79d0f78b21c37beef8c53ed5663b0a5b35ebab40c212279084d:c3d84a405aa5faf5501df3c804ba3f329d9704854b2cd998ce1b7d1e8f7d8a53&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:09a921fe816286ab64392046732511d0ab6e20a706c1e50164e45c2bd38775c7:27d8b5edcb045c0645bc3d5aef641ece3845ec68e1129446a4714f3ed1e1e495&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:8c7d2e5979a9802f3a4dc6359086f4d2c628cc1e0c496ee03bfdfbfe2c015835:5d10495c4979e5555363c273dca9d0a742a685002c097dd941ac31dc52c7ec06&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:a4f7d6ab22871d5ea0807ee8a84221f03d65af6afe6e9d043182d2c5b35e490a:982769d0319a7734030fda16cc30a8bb42ffe8f8bc4eea136ec1a79154245151&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4756606ec2985c117636300e3ac49a5adaf88fc9d26b093220cad24801d3d900:707aa4a548b4fadec7fec9af3e5093e0594af4ab60e313d37fd10dca9b7a7d7f&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f11c9ef03a8e5c590891c73f45d82d179dbbfb96748b2bda12832233afe48062&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fcc0fe256db159eba25b08fb0c63ae7fc23936c8ee28ccd765d97a389da833da:2347c9244c24ac75ec633d2f05570c4897721c99803e48ac947ec470b2d38c61&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:0025586680e1f5a9de686256d576c76edffa122abda2e2f29a4cbef3e127d6e9:d9fe18c5b0f87ef16e73cd997e677e046be6abc1cea411b80604989cb18909f9&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:4c03fc5bf6708f0655354c50ff0d3446eb8c1df74530a762c27667f0f292aa18:5b9884fdbb4eb7c9ed18498ea073e65634c217ea51c213391d3c6a541450ac8b&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:16c78722f31248c612b3c7f6f605f2c3b602784fd6902667f08411a4474bfd1f:49fa8c739cf3270a2bdd6a0d4bd4afb077941b52b28cfef6b8d9aadc731c752d&#x27;, &#x27;symbol&#x27;: &#x27;AMZN.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:c6dd35bab12405072e1ee4c809b2582635ede4a2958d339b53c54053bc9b0674:56d3dce0a196295606a9815b44eeff8e9c42364df8b170101ded011ff9168d34&#x27;, &#x27;symbol&#x27;: &#x27;GOOGL.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1de3d08e722a20f6bc587adaab48c20640810eb3afb7c3260ac6ab2f9d44f9b6:91913bfd5485a37df17e87c066f865923faa70df53a12458dbc8b84028c4a697&#x27;, &#x27;symbol&#x27;: &#x27;META.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3c257506b79ee926d426367dec17baaa182d4a08736cc1e739db5917b8a6bfc4:74a9db36720a204d7ab59b06413b38f3697bf89503e72707ea7910d557875209&#x27;, &#x27;symbol&#x27;: &#x27;MSFT.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:1d18247bb260b4fcfad7f01112ab10b2ed955da47489d1785d2a16f4c43a5921:04073417089b89c39cade3e8344c3dc9f03203e0c459dfee46aea64565774e2c&#x27;, &#x27;symbol&#x27;: &#x27;ORCL.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:0025586680e1f5a9de686256d576c76edffa122abda2e2f29a4cbef3e127d6e9:d9fe18c5b0f87ef16e73cd997e677e046be6abc1cea411b80604989cb18909f9&#x27;, &#x27;aib_bronze.equity_ohlcv:09a921fe816286ab64392046732511d0ab6e20a706c1e50164e45c2bd38775c7:27d8b5edcb045c0645bc3d5aef641ece3845ec68e1129446a4714f3ed1e1e495&#x27;, &#x27;aib_bronze.equity_ohlcv:16c78722f31248c612b3c7f6f605f2c3b602784fd6902667f08411a4474bfd1f:49fa8c739cf3270a2bdd6a0d4bd4afb077941b52b28cfef6b8d9aadc731c752d&#x27;, 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500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Down 18.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -18.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -18.06371556669927, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 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S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Down 8.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -8.40%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 2.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -8.40452678237752, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -8.40452678237752, &#x27;components&#x27;: 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<code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Up 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.16235035504954531, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.16235035504954531, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;source_lineage&#x27;: 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<code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.233.; Two-year own-history percentile: 32.9.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 32.89473684210527, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23309580101780164, &#x27;pair_count&#x27;: 17578, &#x27;symbol_count&#x27;: 188}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Up 0.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: 0.36713842806999075, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, 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&#x27;aib_bronze.equity_ohlcv:905c5afd099ea80149dc72d89613632891294155408b6776779fcf66ca6782ed:1b978c6ac1a1c44bebf37c9994b64d798b0809fdabfc1305e145dd96c338f6f8&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 103.26185418431125}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Down 1.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.38%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -1.3835717369865885, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -1.3835717369865885, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;RSP.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-15 04:56:14.074000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:28c8edef2c9e9ca22412dbce0ceb67fe1b5796c3eec778ea8b3bba6e7085cd94:6d52909583ee9de6de690f1e1fbf09ba63a36cd04ac6cb62e356e3798c2a4cea&#x27;, &#x27;symbol&#x27;: &#x27;RSP.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f11c9ef03a8e5c590891c73f45d82d179dbbfb96748b2bda12832233afe48062&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 99.67915569609623}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Down 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: 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[{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fdca157cf28d7eaddc67d2b4714f055415d3db582c221707eccb69089998f2f5:560bfb55dbc4b71bf30fa8bbac35bf4fcac3aae6afde27fcae6644c6a98f2d3b&#x27;, &#x27;symbol&#x27;: &#x27;NDX.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f11c9ef03a8e5c590891c73f45d82d179dbbfb96748b2bda12832233afe48062&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: 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[&#x27;aib_bronze.equity_ohlcv:10b760b819a42d972359fe162e0dd7a3cd1f7c54b2751c9033e28ab08619a121:3e3c840fdf5dbd1287f2e9f4e5fc45fad08533db195793e6ed2eb66e6b698d56&#x27;, &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f11c9ef03a8e5c590891c73f45d82d179dbbfb96748b2bda12832233afe48062&#x27;, &#x27;aib_bronze.equity_ohlcv:74ab11f549c57b87153f1adc16af098513c671888fcb759cd001e4703d4cf832:a7916013b8d94028a874e67a5306b5f972482230fa1d54e3efc06c980af442b1&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;aib_bronze.equity_ohlcv:fdca157cf28d7eaddc67d2b4714f055415d3db582c221707eccb69089998f2f5:560bfb55dbc4b71bf30fa8bbac35bf4fcac3aae6afde27fcae6644c6a98f2d3b&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 103.60795244080106}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Down 3.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.57%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -3.5661306066153586, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -3.5661306066153586, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;GSPC.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;XLU.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-15 04:56:14.074000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:fd0b2ff995cca4b6ffdfcdd09eef46ff2f437ffb11390aa8b35974db1228533f:3d8b02872ac96f75f5a7704d1876ae16115dd38aee00ddabe599f8795dc875fc&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f11c9ef03a8e5c590891c73f45d82d179dbbfb96748b2bda12832233afe48062&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:9632224fd6a47ce2969a941c15f94c41725e1cc6f166f5f81b6687c4a578b2c3:9a6c35044ae3033290d832d4519b4b05d2e74d0011a766a3a2a7f73f641fa094&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}], &#x27;rebase&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;symbol&#x27;: &#x27;GSPC.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-02-02&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:94b9a95003bfe2359b13fdbb6fb104e708584a7c7e4bce0a0e03d754a90a7103&#x27;, &#x27;symbol&#x27;: &#x27;XLU.US&#x27;}]}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:24d6cc3fd802e900c9aec4f2d6f1c7d219c3b1ac2343bd82f0afcf1a9ebe8ec9:4e2d09918e537df65173169bc4aa2456acf27f164b729b17bc93418e7e4873f6&#x27;, &#x27;aib_bronze.equity_ohlcv:3bde2c18d1ae1d892100a0125d93d772163e106ef0c469c22318ea3f65f1f48c:f11c9ef03a8e5c590891c73f45d82d179dbbfb96748b2bda12832233afe48062&#x27;, &#x27;aib_bronze.equity_ohlcv:9632224fd6a47ce2969a941c15f94c41725e1cc6f166f5f81b6687c4a578b2c3:9a6c35044ae3033290d832d4519b4b05d2e74d0011a766a3a2a7f73f641fa094&#x27;, &#x27;aib_bronze.equity_ohlcv:cf6682e490cc8d57489ad055401b01d1e4552272f898b6199dc4b3f5f8035899:94b9a95003bfe2359b13fdbb6fb104e708584a7c7e4bce0a0e03d754a90a7103&#x27;, &#x27;aib_bronze.equity_ohlcv:f5454482724e207192456f7a236028797a35598ee6931a14f4150b134025cd05:9c2ab7c7da354af15e4a881d8dda5b8cdd2c48fb996e8a2e567adc23e34e15e7&#x27;, &#x27;aib_bronze.equity_ohlcv:fd0b2ff995cca4b6ffdfcdd09eef46ff2f437ffb11390aa8b35974db1228533f:3d8b02872ac96f75f5a7704d1876ae16115dd38aee00ddabe599f8795dc875fc&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 91.04232058099537}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Front VIX at 0.89× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.887.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;VIX3M.INDX&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 1, &#x27;numerator&#x27;: [&#x27;VIX.INDX&#x27;], &#x27;rebase&#x27;: False, &#x27;rebase_epoch&#x27;: None}, &#x27;first_observed_at&#x27;: &#x27;2026-09-15 04:56:14.074000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:e503fb8d17f42316d387b15b7bed006223c570c037bab36a9528c260a01006dc:b9e99c9a349165915263a8e41f1ca0b7e06a9c5ef2b2f3d33ca87eb0c4a49bd2&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:6ee975cf28c1a15f154356705335b8061792c58f5c7caba6fc6a80985eb6b1be:bdb97c288ccacd5278bcbc8c1c1d710cf384bc85ee6c037eb314b3b93f630ae3&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;current&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:23fe2ed5396e7988c1e60b32cacf80ade466f50e4623b8a650c2af9f9db5c46d:03aceb93c002860b76a60cd143d9dcc8de1ba891fe42b241eb47a5b4c1d26e97&#x27;, &#x27;symbol&#x27;: &#x27;VIX.INDX&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-09-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:98c19421cce8f2182c5c683f2f0893418ec9d2dc4802ffe62d175db922433816:3e855c0e065a051f4f8117f978cefdfdf2e39a0e9e9789264e129a542c230cfe&#x27;, &#x27;symbol&#x27;: &#x27;VIX3M.INDX&#x27;}], &#x27;rebase&#x27;: []}, &#x27;price_convention&#x27;: &#x27;adjusted_close_when_present_else_close&#x27;, &#x27;schema_version&#x27;: 1, &#x27;source_refs&#x27;: [&#x27;aib_bronze.equity_ohlcv:23fe2ed5396e7988c1e60b32cacf80ade466f50e4623b8a650c2af9f9db5c46d:03aceb93c002860b76a60cd143d9dcc8de1ba891fe42b241eb47a5b4c1d26e97&#x27;, &#x27;aib_bronze.equity_ohlcv:6ee975cf28c1a15f154356705335b8061792c58f5c7caba6fc6a80985eb6b1be:bdb97c288ccacd5278bcbc8c1c1d710cf384bc85ee6c037eb314b3b93f630ae3&#x27;, &#x27;aib_bronze.equity_ohlcv:98c19421cce8f2182c5c683f2f0893418ec9d2dc4802ffe62d175db922433816:3e855c0e065a051f4f8117f978cefdfdf2e39a0e9e9789264e129a542c230cfe&#x27;, &#x27;aib_bronze.equity_ohlcv:e503fb8d17f42316d387b15b7bed006223c570c037bab36a9528c260a01006dc:b9e99c9a349165915263a8e41f1ca0b7e06a9c5ef2b2f3d33ca87eb0c4a49bd2&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;vix_vix3m&#x27;: 0.8869294605809129}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-14 / 2026-09-15 07:36:55+00:00</li>\n<li>interpretation: Down 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.67%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 1.5, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -0.6669543533554867, &#x27;window&#x27;: &#x27;change_30d&#x27;}, &#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -0.6669543533554867, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;source_lineage&#x27;: {&#x27;comparison_date&#x27;: &#x27;2026-08-14&#x27;, &#x27;definition&#x27;: {&#x27;captured_outputs&#x27;: [&#x27;value&#x27;, &#x27;change_30d_pct&#x27;], &#x27;denominator&#x27;: [&#x27;LQD.US&#x27;], &#x27;derivation_version&#x27;: &#x27;dependency_clocks_v2&#x27;, &#x27;minimum_denominator&#x27;: 1, &#x27;minimum_numerator&#x27;: 2, &#x27;numerator&#x27;: [&#x27;ARCC.US&#x27;, &#x27;OBDC.US&#x27;, &#x27;BXSL.US&#x27;], &#x27;rebase&#x27;: True, &#x27;rebase_epoch&#x27;: &#x27;2026-02-02&#x27;}, &#x27;first_observed_at&#x27;: &#x27;2026-09-15 04:56:14.074000+00:00&#x27;, &#x27;inputs&#x27;: {&#x27;comparison&#x27;: [{&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: &#x27;aib_bronze.equity_ohlcv:b892e8d67de60d6956c79b92bd9c24c21d389d8b00aa02c5a7efb43d03ebc4da:9f4726f5f1bfe1da23f83de6ec2cf000a6f021cab16ea4ba07444e3c8e706dac&#x27;, &#x27;symbol&#x27;: &#x27;ARCC.US&#x27;}, {&#x27;as_of&#x27;: &#x27;2026-08-14&#x27;, &#x27;reference&#x27;: 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&#x27;aib_bronze.equity_ohlcv:8408697caf1c2c3ebf9662aa279b14c3952542f15f75e5982070a191bb3398fd:76aee55ab98a00227b2b8113e9e5b943d5572dff7b10a0be9a875e9cde66c91f&#x27;, &#x27;aib_bronze.equity_ohlcv:8ece3f1c70e0063967208cdb248f8aa373f92e4300868fb2d93a5fe7a9bbd47d:ef482dda03f73bfad3475931cc000fcf8509dd5e5441b478883e508f5ce888ea&#x27;, &#x27;aib_bronze.equity_ohlcv:b892e8d67de60d6956c79b92bd9c24c21d389d8b00aa02c5a7efb43d03ebc4da:9f4726f5f1bfe1da23f83de6ec2cf000a6f021cab16ea4ba07444e3c8e706dac&#x27;, &#x27;aib_bronze.equity_ohlcv:f9090861dda06a5193825dddc0c816e5eb5b4323f93347dc55b8ead1894fae3c:9f87d3ec5dc83c6b0c5b672bffdba2f22f20b8a9321d08dc1595c187dae6b622&#x27;], &#x27;transform_version&#x27;: &#x27;market-series-lineage-2026-09-07-v1&#x27;}, &#x27;value&#x27;: 107.1469315943413}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▼ Bearish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-08 / 2026-09-08 00:45:05+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,212B (conditional on an IPO), -7.16% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $102.; Probability-weighted bucket midpoint: $1,212B.; Seven-day implied-cap change: -7.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band&#x27;: {&#x27;inclusive&#x27;: False, &#x27;schema_version&#x27;: 1, &#x27;threshold&#x27;: 5.0, &#x27;unit&#x27;: &#x27;%&#x27;, &#x27;value&#x27;: -7.1585449553877805, &#x27;window&#x27;: &#x27;change_7d&#x27;}, &#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.0775, &#x27;full_set_prob_sum&#x27;: 0.9925, &#x27;implied_cap_change_7d_pct&#x27;: -7.1585449553877805, &#x27;implied_cap_usd_b&#x27;: 1212.0967741935483, &#x27;ipo_by_2026_prob&#x27;: 0.065, &#x27;no_ipo_by_2026_prob&#x27;: 0.915, &#x27;volume_24h_total&#x27;: 102.189566}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-14</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-15</td><td class=\"num\">33,154</td><td class=\"num\">5</td><td>—</td><td>—</td></tr>\n<tr><td>CISO</td><td>2026-09-15</td><td class=\"num\">173,718</td><td class=\"num\">5</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-09-15</td><td class=\"num\">404,574</td><td class=\"num\">5</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-09-15</td><td class=\"num\">491,224</td><td class=\"num\">5</td><td>—</td><td>—</td></tr>\n<tr><td>SOCO</td><td>2026-09-15</td><td class=\"num\">183,140</td><td class=\"num\">5</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">39.65</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">36.08</td><td class=\"num\">0</td><td class=\"num\">-3.569</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">34.96</td><td class=\"num\">0</td><td class=\"num\">-4.687</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.679</li>\n<li>as of: 2026-09-08</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-14</td><td class=\"num\">31.57</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-7.959</td><td class=\"num\">-0.8167</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-08-01</td><td class=\"num\">514,805,337,000</td><td class=\"num\">53.32</td><td class=\"num\">10.1</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Model capability, cost and demand</h2>\n<p>No model evidence snapshots were retained by this issue&#x27;s knowledge cutoff.</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>ORACLE</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-09-11 20:10:12</td><td>capital expenditures</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>ORACLE · capex_commitment</strong>: …ed revenues 3,997 2,550 Net cash provided by operating activities 23,103 8,140 Cash flows from investing activities: Purchases of marketable securities and other investments ( 306 ) ( 471 ) Proceeds from sales and maturities of marketable securities and other investments 225 255 Capital expenditures ( 28,499 ) ( 8,502 ) Net cash used for investing activities ( 28,580 ) ( 8,718 ) Cash flows from financing activities: Proceeds from issuances of common stock via at-the-market program, net of issuance costs 19,909 — Net proceeds from employee stock programs 41 1,153 Payments of… <a href=\"https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-15 19:26:04</td><td>—</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>error</td><td class=\"num\">0</td><td>2026-09-15 06:45:41</td><td>—</td><td>MissingAnchorConfigurationError: External integrity gate unmet: configure AIB_ANCHOR_BUCKET, AIB_ANCHOR_BUCKET_OWNER, AIB_ANCHOR_KMS_KEY_ARN</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">146</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-15 07:35:41</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-09-15 23:44:04</td><td>—</td><td>—</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-15 23:44:45</td><td>—</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3290</td><td>2026-09-15 07:37:15</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>ok</td><td class=\"num\">0</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">5352</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">214</td><td>2026-09-15 19:23:54</td><td>—</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-15 23:34:19</td><td>—</td><td>partial: PJM: gridstatus PJM DA fetch failed: 403 Client Error: Forbidden for url: https://api.pjm.com/api/v1/da_hrl_lmps?fields=congestion_price_da%2Cdatetime_beginning_ept%2Cdatetime_beginning_utc%2</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks</td><td>ok</td><td class=\"num\">0</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>metr_tasks_1_0</td><td>ok</td><td class=\"num\">41629</td><td>2026-09-15 09:34:43</td><td>—</td><td>—</td></tr>\n<tr><td>mlperf_inference</td><td>ok</td><td class=\"num\">0</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">445</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>model_releases</td><td>ok</td><td class=\"num\">9</td><td>2026-09-15 09:38:19</td><td>—</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">563</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">5</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>openrouter_benchmarks</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>—</td><td>never run</td></tr>\n<tr><td>openrouter_performance</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>—</td><td>never run</td></tr>\n<tr><td>openrouter_rankings</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>—</td><td>never run</td></tr>\n<tr><td>openrouter_workloads</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>—</td><td>never run</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-15 07:35:39</td><td>—</td><td>APIError: API error 503: Service Unavailable</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-15 05:10:07</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>ok</td><td class=\"num\">0</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">1</td><td>2026-09-15 07:35:39</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: chain_anchor, policy_events</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-16T05:10:09Z",
      "id": "urn:prexel:issue:92be8951-c543-53f5-a608-e67e382eba87",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 24 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-15-daily-1eec2e14ee91.html"
    },
    {
      "_prexel": {
        "content_hash": "2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1",
        "context_hash": "40f92f11c668943386e75dc87b1d1a02747296c1f1d05ef7517c0bef72197b93",
        "kind": "daily",
        "period_end": "2026-09-14"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-22 05:57:30.836000 · correction <code>f38224f805a1c9805e92984ba210cc9aa0f787c673902e18557438de446c8ac5</code> · hash <code>7fe65ff5b1adc1e398e74911d75d2242b4e714e18d9feac2293779cd6953d1b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-21 01:56:32.522000 · correction <code>fc1408267194fd3067e57eed6cfda033121162f2214dbc6ea9474c7c53c0d460</code> · hash <code>129ccc44a4ac0b3f3cd7e0e9c58883ae255f630a3fec30c75ab45cee30632728</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45.522000 · correction <code>d253c2a870b84dd9d415c35ae73f8e12e4f1598a0cc225fdad45a5b4deed0900</code> · hash <code>a683d51198720dc51a2f4b9736007887eaeb5a5f210f3c50a05b4484818a5a22</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-20 13:53:45.522000 · correction <code>47bd2c9478ca8adb41b3a594aae3f99ea1e0ce4efad8688e26aa24037052a629</code> · hash <code>ceffc834a16f35ba62cefb5a8ec49dcb9207de828554376959e4f2f1ffff0614</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05.085000 · correction <code>65031d7a53b0ca54e581a4782c9937c4078625fd4a44721d1fcb85407b530daa</code> · hash <code>6943b5411491e4433d9887bf53aa3543ab74345291e89d06a196d2e0c91109c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05.085000 · correction <code>476f340c46ea4d4aa09b00aeb7ef2faad93616fe4e6a8cb5ba03062a38b44a40</code> · hash <code>59e88099e62bc2c4744531f75732bb9a227e3021d70956727144c9da5dc91cc1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>2afbf53016bc9d2c1eb9e848c8550530e937c02cc9f294084ef8ebd43e1e37b1</code> · effective 2026-09-18 04:22:05.085000 · correction <code>380783889071b3c315128236f711ce3ae058b4349ce6cf25a333a15dadd50f57</code> · hash <code>aa04c9fb2636f7334935353e96588ab61fc0b66d134c06223290feff9fc426b6</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 23 (daily)</h1>\n<p>Period: 2026-09-14 → 2026-09-14</p>\n<p>Context hash: <code>40f92f11c668943386e75dc87b1d1a02747296c1f1d05ef7517c0bef72197b93</code></p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 18 bullish, 6 bearish, 12 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59+00:00</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49+00:00</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.2785487708168133; b200_h100_ratio_change_14d_pct=-0.18256610333412082; b200_offered_usd_hr=6.385; band_measured_pct=-18.256610333412084; band_pct=5.0; h100_spot_usd_hr=2.8022222222222206</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.2785487708168133, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.18256610333412082, &#x27;b200_offered_usd_hr&#x27;: 6.385, &#x27;band_measured_pct&#x27;: -18.256610333412084, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222206}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.013333333333333334; h100_depth_smoothed_3d=55.5; h100_dispersion_smoothed_3d=2.1835992336273193; h100_price_change_14d_pct=0.18933630473639876</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.013333333333333334, &#x27;h100_depth_smoothed_3d&#x27;: 55.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1835992336273193, &#x27;h100_price_change_14d_pct&#x27;: 0.18933630473639876}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Up 8.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.857031222642409, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2190654074, &#x27;total_tokens&#x27;: 144877555897528}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.51pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.42817630231052, &#x27;top10_share_change_14d_pp&#x27;: 2.505099718109335}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The fixed-basket price is $0.737/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The token-weighted effective price is $0.754/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-06 12:53:38+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.333333333333332, &#x27;listing_rate_change_pct&#x27;: 83.63636363636364, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 101, &#x27;trailing_3mo_rate&#x27;: 33.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Open-weights models carry 52.5% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-08-16 16:00:00+00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 5.624961765550318, &#x27;source_period&#x27;: &#x27;2026-07-01&#x27;, &#x27;value&#x27;: 467580548000.0, &#x27;yoy_pct&#x27;: 44.68755126916978}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.82/MWh vs prior 14-day $50.78/MWh (-19.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 40.81820404761904, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.77980836915536, &#x27;caiso_da_trend_pct&#x27;: -19.617254655862766}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.08 MMBtu/MWh vs prior 14-day 17.92 (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.07524277504105, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.92102081473945, &#x27;caiso_heat_rate_trend_pct&#x27;: -21.45959250566449, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +31.00% vs control mean +3.92% (gap +27.09pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -8.485146574646697, &#x27;dc_load_premium_pp&#x27;: 27.08665934464689, &#x27;erco_load_yoy_7d_pct&#x27;: 16.3176492686319, &#x27;pjm_load_yoy_7d_pct&#x27;: 31.002910691639492}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +29.89% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 89497.0, &#x27;nova_load_yoy_7d_pct&#x27;: 29.887771117491315, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.16178338968170225, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;value&#x27;: 65.320600350164}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:46:13+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.856</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;dc_load_anomaly_z&#x27;: -0.8564871052140255, &#x27;dc_load_growth_yoy&#x27;: 19.23047965170996}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.385741883966965, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;value&#x27;: 113.72413994368466}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.7364519201731756, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;value&#x27;: 92.35893012142886}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.7658133956267585, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;value&#x27;: 116.87145356080674}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.498395310554835, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;value&#x27;: 101.20455548855966}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.2157801988860526, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;value&#x27;: 130.39402474861558}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.3355957970741841, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;value&#x27;: 99.61264446739978}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.238.; Two-year own-history percentile: 36.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 36.14190687361419, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23753744152529024, &#x27;pair_count&#x27;: 17578, &#x27;symbol_count&#x27;: 188}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.8653310453866414, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;value&#x27;: 102.92581022528738}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.2682758901503379, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;value&#x27;: 100.23170147358907}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.2554201983857807, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;value&#x27;: 103.74848137249346}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.2651362749771522, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;value&#x27;: 92.58705736516451}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;vix_vix3m&#x27;: 0.8250993753549118}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 5.370307384656026, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;value&#x27;: 108.37808406923408}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-04 / 2026-09-04 09:20:40+00:00</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.66, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.35, &#x27;event_date&#x27;: &#x27;2026-08-04&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 22.963, &#x27;symbol&#x27;: &#x27;AMD&#x27;}</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-30 / 2026-08-23 11:29:20+00:00</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.88, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.83, &#x27;event_date&#x27;: &#x27;2026-07-30&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 2.7322, &#x27;symbol&#x27;: &#x27;AMZN&#x27;}</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-01 01:19:14+00:00</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 6.18, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 7.1, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: -12.9577, &#x27;symbol&#x27;: &#x27;META&#x27;}</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-06 13:28:11+00:00</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 4.74, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 4.21, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 12.5891, &#x27;symbol&#x27;: &#x27;MSFT&#x27;}</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-26 / 2026-09-05 11:11:50+00:00</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 2.22, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 2.09, &#x27;event_date&#x27;: &#x27;2026-08-26&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-07-31&#x27;, &#x27;surprise_pct&#x27;: 6.2201, &#x27;symbol&#x27;: &#x27;NVDA&#x27;}</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-06-10 / 2026-09-02 23:41:24+00:00</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.79, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.58, &#x27;event_date&#x27;: &#x27;2026-06-10&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-05-31&#x27;, &#x27;surprise_pct&#x27;: 13.2911, &#x27;symbol&#x27;: &#x27;ORCL&#x27;}</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:55:46+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,231B (conditional on an IPO), -2.00% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $11,410.; Probability-weighted bucket midpoint: $1,231B.; Seven-day implied-cap change: -2.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.077, &#x27;full_set_prob_sum&#x27;: 0.992, &#x27;implied_cap_change_7d_pct&#x27;: -1.995231612536108, &#x27;implied_cap_usd_b&#x27;: 1230.5194805194806, &#x27;ipo_by_2026_prob&#x27;: 0.07, &#x27;no_ipo_by_2026_prob&#x27;: 0.915, &#x27;volume_24h_total&#x27;: 11410.042747000001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<p>No rows — feed empty or not yet collected.</p>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<p>No rows — feed empty or not yet collected.</p>\n<h3>Compute — GPU rental (latest day)</h3>\n<p>No rows — feed empty or not yet collected.</p>\n<h3>CEF NAV premium (latest per fund)</h3>\n<p>No rows — feed empty or not yet collected.</p>\n<h3>Supply chain (latest per series)</h3>\n<p>No rows — feed empty or not yet collected.</p>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 15:32:05</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>cef_nav</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:02:34</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-14 05:25:39</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-13 04:32:32</td><td>—</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 04:07:01</td><td>—</td><td>ConnectionError: Request failed:</td></tr>\n<tr><td>earnings_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 07:53:14</td><td>—</td><td>ConnectionError: Request failed:</td></tr>\n<tr><td>edgar_disclosures</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 03:59:27</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-12 04:09:13</td><td>—</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 19:47:10</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>eia930_subba</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 19:58:35</td><td>—</td><td>ConnectionError: host sticky-blocked: api.eia.gov</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3196</td><td>2026-09-13 03:59:57</td><td>—</td><td>—</td></tr>\n<tr><td>epoch_data_centers</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>—</td><td>never run</td></tr>\n<tr><td>equity_ohlcv</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 05:28:26</td><td>—</td><td>IngestionError: equity_ohlcv: all 264 symbols failed — provider-level outage</td></tr>\n<tr><td>gpu_spot</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 16:43:58</td><td>—</td><td>RuntimeError: all GPU marketplace fetches failed: vast:H100: Request timed out: ; vast:H200: host sticky-blocked: console.vast.ai; vast:B200: host sticky-blocked: console.vast.ai; runpod: Request time</td></tr>\n<tr><td>hf_model_stats</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:07:19</td><td>—</td><td>IngestionError: hf_model_stats: all 12 orgs failed — provider-level outage</td></tr>\n<tr><td>iso_lmp</td><td>error</td><td class=\"num\">0</td><td>2026-09-14 04:58:42</td><td>—</td><td>RuntimeError: all required ISO fetches failed: CAISO: gridstatus CAISO DA fetch failed: HTTPConnectionPool(host=&#x27;oasis.caiso.com&#x27;, port=80): Max retries exceeded with url: /oasisapi/SingleZip?resultfo</td></tr>\n<tr><td>korea_exports</td><td>skipped</td><td class=\"num\">0</td><td>2026-09-13 03:44:39</td><td>—</td><td>korea customs unreachable/unavailable and no item-trade row: Request failed:</td></tr>\n<tr><td>metr_tasks</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>—</td><td>never run</td></tr>\n<tr><td>mlperf_inference</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>—</td><td>never run</td></tr>\n<tr><td>model_catalog</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 05:19:44</td><td>—</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>model_usage</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:31:51</td><td>—</td><td>ConnectionError: host sticky-blocked: openrouter.ai</td></tr>\n<tr><td>natgas</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 05:11:04</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>openrouter_activity</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:23:12</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 01:33:50</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-14 05:25:41</td><td>—</td><td>—</td></tr>\n<tr><td>sec_company_facts</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>—</td><td>never run</td></tr>\n<tr><td>tsmc_revenue</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:13:38</td><td>—</td><td>ConnectionError: Request timed out:</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): korea_exports</li>\n<li>Errored last run: catalyst_markets, cef_nav, earnings_calendar, earnings_events, edgar_disclosures, eia930, eia930_subba, equity_ohlcv, gpu_spot, hf_model_stats, iso_lmp, model_catalog, model_usage, natgas, openrouter_activity, policy_events, tsmc_revenue</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-15T05:10:08Z",
      "id": "urn:prexel:issue:8408a517-008e-5193-8204-00e9804e1db5",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 23 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-14-daily-2afbf53016bc.html"
    },
    {
      "_prexel": {
        "content_hash": "84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3",
        "context_hash": "0ce91e43e3774c539a770ec136dc6a185e6ea610354d993d92401c2ef617e0cb",
        "kind": "daily",
        "period_end": "2026-09-13"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-22 05:57:30.836000 · correction <code>e0f8387973c1a1f28d7524d549715cb8ab5f20ed0f5b2b688cf047c7c1afe924</code> · hash <code>090dc6632cd6381b38be3c723fe4011b165950fc7cec457ce8a807d289f63b31</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-21 01:56:32.522000 · correction <code>7adf8cd521efa85a084eba7b324cdefc2a9ea1f0c36b65b932fdcd1ad3c2c658</code> · hash <code>e379c23e27666c397c5ea60892d5f84a266f8e71d0fed4a27e7b23bad796724a</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45.522000 · correction <code>bedc1267ec5b31d1472c12c43783bd14cd945dab3c2e4c089e29aa29fa367791</code> · hash <code>b0dbe95cb840fc3b607124607be57d577d006e7639c86bde1364aac11c123030</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-20 13:53:45.522000 · correction <code>a7dec26b90fb616e3a08aa4d9260f56c392c379d58d1d0f5be1fe13fc97a2df4</code> · hash <code>fc6c1186cf40e77a7a908ee3f963bd363fbeef1bf9847d01077c8677aed2c3c3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05.085000 · correction <code>edd5a1f7e077f2c9ee026169e4594c0e221c63668e21433cebe0461f20f35fab</code> · hash <code>bddc2b71a624aa3f28691920adbdb6710ca1b6b3f694513aeda0fb21e524d64d</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05.085000 · correction <code>b753d0f8b0823f830a50d3b83728e152ba8ac1a756e152c16eff6f4c380430ce</code> · hash <code>81d30602880715f3cd033fc7952643ef89b72c17f0b41aaedc15b2b89eef72bc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>84c42c601cfa3c4c6e7ec4735095bdf0d9fbb766a79b49495b5234d906a281a3</code> · effective 2026-09-18 04:22:05.085000 · correction <code>6b685e6704c90096fce0fd7ceb9fc5f7449d0c9cafe52b5483fae5dad37eb02d</code> · hash <code>72e7a58da1533f696964f8539d841a4fa42b3100303fbb040a9e91efa9713dec</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 22 (daily)</h1>\n<p>Period: 2026-09-13 → 2026-09-13</p>\n<p>Context hash: <code>0ce91e43e3774c539a770ec136dc6a185e6ea610354d993d92401c2ef617e0cb</code></p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 18 bullish, 6 bearish, 12 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.2785487708168133; b200_h100_ratio_change_14d_pct=-0.18256610333412082; b200_offered_usd_hr=6.385; band_measured_pct=-18.256610333412084; band_pct=5.0; h100_spot_usd_hr=2.8022222222222206</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.2785487708168133, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.18256610333412082, &#x27;b200_offered_usd_hr&#x27;: 6.385, &#x27;band_measured_pct&#x27;: -18.256610333412084, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222206}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.013333333333333334; h100_depth_smoothed_3d=55.5; h100_dispersion_smoothed_3d=2.1835992336273193; h100_price_change_14d_pct=0.18933630473639876</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.013333333333333334, &#x27;h100_depth_smoothed_3d&#x27;: 55.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1835992336273193, &#x27;h100_price_change_14d_pct&#x27;: 0.18933630473639876}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Up 8.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.857031222642409, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2190654074, &#x27;total_tokens&#x27;: 144877555897528}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.51pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.42817630231052, &#x27;top10_share_change_14d_pp&#x27;: 2.505099718109335}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The fixed-basket price is $0.737/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The token-weighted effective price is $0.754/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-06 12:53:38+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.333333333333332, &#x27;listing_rate_change_pct&#x27;: 83.63636363636364, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 101, &#x27;trailing_3mo_rate&#x27;: 33.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Open-weights models carry 52.5% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-08-16 16:00:00+00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 5.624961765550318, &#x27;source_period&#x27;: &#x27;2026-07-01&#x27;, &#x27;value&#x27;: 467580548000.0, &#x27;yoy_pct&#x27;: 44.68755126916978}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.82/MWh vs prior 14-day $50.78/MWh (-19.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 40.81820404761904, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.77980836915536, &#x27;caiso_da_trend_pct&#x27;: -19.617254655862766}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.08 MMBtu/MWh vs prior 14-day 17.92 (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.07524277504105, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.92102081473945, &#x27;caiso_heat_rate_trend_pct&#x27;: -21.45959250566449, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +31.00% vs control mean +3.92% (gap +27.09pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -8.485146574646697, &#x27;dc_load_premium_pp&#x27;: 27.08665934464689, &#x27;erco_load_yoy_7d_pct&#x27;: 16.3176492686319, &#x27;pjm_load_yoy_7d_pct&#x27;: 31.002910691639492}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +29.89% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 89497.0, &#x27;nova_load_yoy_7d_pct&#x27;: 29.887771117491315, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.16178338968170225, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;value&#x27;: 65.320600350164}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:46:13+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.856</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;dc_load_anomaly_z&#x27;: -0.8564871052140255, &#x27;dc_load_growth_yoy&#x27;: 19.23047965170996}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.385741883966965, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;value&#x27;: 113.72413994368466}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.7364519201731756, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;value&#x27;: 92.35893012142886}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.7658133956267585, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;value&#x27;: 116.87145356080674}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.498395310554835, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;value&#x27;: 101.20455548855966}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.2157801988860526, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;value&#x27;: 130.39402474861558}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.3355957970741841, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;value&#x27;: 99.61264446739978}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.238.; Two-year own-history percentile: 36.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 36.14190687361419, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23753744152529024, &#x27;pair_count&#x27;: 17578, &#x27;symbol_count&#x27;: 188}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.8653310453866414, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;value&#x27;: 102.92581022528738}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.2682758901503379, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;value&#x27;: 100.23170147358907}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.2554201983857807, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;value&#x27;: 103.74848137249346}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.2651362749771522, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;value&#x27;: 92.58705736516451}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;vix_vix3m&#x27;: 0.8250993753549118}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 5.370307384656026, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;value&#x27;: 108.37808406923408}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-04 / 2026-09-04 09:20:40+00:00</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.66, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.35, &#x27;event_date&#x27;: &#x27;2026-08-04&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 22.963, &#x27;symbol&#x27;: &#x27;AMD&#x27;}</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-30 / 2026-08-23 11:29:20+00:00</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.88, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.83, &#x27;event_date&#x27;: &#x27;2026-07-30&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 2.7322, &#x27;symbol&#x27;: &#x27;AMZN&#x27;}</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-01 01:19:14+00:00</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 6.18, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 7.1, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: -12.9577, &#x27;symbol&#x27;: &#x27;META&#x27;}</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-06 13:28:11+00:00</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 4.74, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 4.21, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 12.5891, &#x27;symbol&#x27;: &#x27;MSFT&#x27;}</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-26 / 2026-09-05 11:11:50+00:00</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 2.22, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 2.09, &#x27;event_date&#x27;: &#x27;2026-08-26&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-07-31&#x27;, &#x27;surprise_pct&#x27;: 6.2201, &#x27;symbol&#x27;: &#x27;NVDA&#x27;}</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-06-10 / 2026-09-02 23:41:24+00:00</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.79, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.58, &#x27;event_date&#x27;: &#x27;2026-06-10&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-05-31&#x27;, &#x27;surprise_pct&#x27;: 13.2911, &#x27;symbol&#x27;: &#x27;ORCL&#x27;}</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:55:46+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,231B (conditional on an IPO), -2.00% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $11,410.; Probability-weighted bucket midpoint: $1,231B.; Seven-day implied-cap change: -2.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.077, &#x27;full_set_prob_sum&#x27;: 0.992, &#x27;implied_cap_change_7d_pct&#x27;: -1.995231612536108, &#x27;implied_cap_usd_b&#x27;: 1230.5194805194806, &#x27;ipo_by_2026_prob&#x27;: 0.07, &#x27;no_ipo_by_2026_prob&#x27;: 0.915, &#x27;volume_24h_total&#x27;: 11410.042747000001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-12</td><td class=\"num\">90,539</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n<tr><td>CISO</td><td>2026-09-12</td><td class=\"num\">475,195</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-09-12</td><td class=\"num\">917,829</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-09-12</td><td class=\"num\">1,335,952</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n<tr><td>SOCO</td><td>2026-09-12</td><td class=\"num\">380,039</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">39.26</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">36.37</td><td class=\"num\">0</td><td class=\"num\">-2.888</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">35.68</td><td class=\"num\">0</td><td class=\"num\">-3.576</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.679</li>\n<li>as of: 2026-09-08</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 15:32:05</td><td>2026-09-08 00:45:05</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>cef_nav</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:02:34</td><td>2026-09-04 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-14 05:25:39</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-13 04:32:32</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 04:07:01</td><td>2026-10-29 00:00:00</td><td>ConnectionError: Request failed:</td></tr>\n<tr><td>earnings_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 07:53:14</td><td>2026-10-29 00:00:00</td><td>ConnectionError: Request failed:</td></tr>\n<tr><td>edgar_disclosures</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 03:59:27</td><td>2026-09-04 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-12 04:09:13</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 19:47:10</td><td>2026-09-12 14:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 19:58:35</td><td>2026-09-08 04:00:00</td><td>ConnectionError: host sticky-blocked: api.eia.gov</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3196</td><td>2026-09-13 03:59:57</td><td>2026-09-12 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 05:28:26</td><td>2026-09-07 00:00:00</td><td>IngestionError: equity_ohlcv: all 264 symbols failed — provider-level outage</td></tr>\n<tr><td>gpu_spot</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 16:43:58</td><td>2026-09-08 00:00:00</td><td>RuntimeError: all GPU marketplace fetches failed: vast:H100: Request timed out: ; vast:H200: host sticky-blocked: console.vast.ai; vast:B200: host sticky-blocked: console.vast.ai; runpod: Request time</td></tr>\n<tr><td>hf_model_stats</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:07:19</td><td>2026-09-07 00:00:00</td><td>IngestionError: hf_model_stats: all 12 orgs failed — provider-level outage</td></tr>\n<tr><td>iso_lmp</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 19:20:11</td><td>2026-09-13 06:00:00</td><td>RuntimeError: all required ISO fetches failed: CAISO: gridstatus CAISO DA fetch failed: HTTPConnectionPool(host=&#x27;oasis.caiso.com&#x27;, port=80): Max retries exceeded with url: /oasisapi/SingleZip?resultfo</td></tr>\n<tr><td>korea_exports</td><td>skipped</td><td class=\"num\">0</td><td>2026-09-13 03:44:39</td><td>2026-08-20 00:00:00</td><td>korea customs unreachable/unavailable and no item-trade row: Request failed:</td></tr>\n<tr><td>model_catalog</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 05:19:44</td><td>2026-09-07 00:00:00</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>model_usage</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:31:51</td><td>2026-09-06 00:00:00</td><td>ConnectionError: host sticky-blocked: openrouter.ai</td></tr>\n<tr><td>natgas</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 05:11:04</td><td>2026-09-01 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>openrouter_activity</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:23:12</td><td>2026-09-06 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 01:33:50</td><td>2026-09-08 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-13 05:10:08</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:13:38</td><td>2026-07-01 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): korea_exports</li>\n<li>Errored last run: catalyst_markets, cef_nav, earnings_calendar, earnings_events, edgar_disclosures, eia930, eia930_subba, equity_ohlcv, gpu_spot, hf_model_stats, iso_lmp, model_catalog, model_usage, natgas, openrouter_activity, policy_events, tsmc_revenue</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-14T05:25:41Z",
      "id": "urn:prexel:issue:83086afa-6c9b-5f25-9c79-5e39518a153e",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 22 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-13-daily-84c42c601cfa.html"
    },
    {
      "_prexel": {
        "content_hash": "0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293",
        "context_hash": "f5f47163a9c4e8e9d2b601763545c3efaf1e14df21b9b8603d9b9f0c87ce7bc6",
        "kind": "daily",
        "period_end": "2026-09-12"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-22 05:57:30.836000 · correction <code>0f5df7db67f13ce2c7460ba515d2db8509c734d289121e4cff20037afa1119f5</code> · hash <code>eef3fa995a7d768b71c03934cf46110331f8089e457a141f117e28473b07d88d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-21 01:56:32.522000 · correction <code>e81617679fb240a33feaf6cbca99f7cb38419ac6b77cd339a46dc15335858191</code> · hash <code>e06d021b94fd8e9f41e7ff55ef68a10e06ef3fe0f229d4e0a15af7d4c14ac022</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45.522000 · correction <code>27a47618070113dc7dfc99806e4771a2ea02caaa907d27f6f1811d12387afc50</code> · hash <code>bb76039cb4988b9fd152badf673cc448a7c04622eae872cbd72ef4f73fad64d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-20 13:53:45.522000 · correction <code>0822ca4cd4c2c5c33de91ae8c2a6afeb5d9376f714e68aedb3d6de3f2954d7f4</code> · hash <code>6072a6890eb09acbaab224ac2396f6c2127276fefcdc605f48a61a360eaf9fa0</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05.085000 · correction <code>df1f3104337cc82940428f529039ad2777a0cb19c4c30273ffed8c05510f69d4</code> · hash <code>89c6bd111e9cabec38c976e6d8322613c81dbe81adfd331dc04f00b0db0f4f72</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05.085000 · correction <code>84bceadabfe7245234dd2edd62d4f330dbe301c1d8eaa5b0b1bbd31ac2319c06</code> · hash <code>3bc3404650624df94fc7569265a90c5e6c8ab27a3b8c21ee850678947fcb6740</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0fe80ac0adae50cd12de07de5369fc11f07ea16abcc3fd36dfe64dfa2047b293</code> · effective 2026-09-18 04:22:05.085000 · correction <code>24bb37c391bbe302ceed05c5549f136d81090b02d2fb21aceee19a1d46b29a9c</code> · hash <code>d22c41c74f90e2a3d74ea55260f4c473433a2ca2c28c57bb70a2df98d070a532</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 21 (daily)</h1>\n<p>Period: 2026-09-12 → 2026-09-12</p>\n<p>Context hash: <code>f5f47163a9c4e8e9d2b601763545c3efaf1e14df21b9b8603d9b9f0c87ce7bc6</code></p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 18 bullish, 6 bearish, 12 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.2785487708168133; b200_h100_ratio_change_14d_pct=-0.18256610333412082; b200_offered_usd_hr=6.385; band_measured_pct=-18.256610333412084; band_pct=5.0; h100_spot_usd_hr=2.8022222222222206</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.2785487708168133, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.18256610333412082, &#x27;b200_offered_usd_hr&#x27;: 6.385, &#x27;band_measured_pct&#x27;: -18.256610333412084, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222206}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.013333333333333334; h100_depth_smoothed_3d=55.5; h100_dispersion_smoothed_3d=2.1835992336273193; h100_price_change_14d_pct=0.18933630473639876</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.013333333333333334, &#x27;h100_depth_smoothed_3d&#x27;: 55.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1835992336273193, &#x27;h100_price_change_14d_pct&#x27;: 0.18933630473639876}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Up 8.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.857031222642409, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2190654074, &#x27;total_tokens&#x27;: 144877555897528}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.51pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.42817630231052, &#x27;top10_share_change_14d_pp&#x27;: 2.505099718109335}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The fixed-basket price is $0.737/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The token-weighted effective price is $0.754/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-06 12:53:38+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.333333333333332, &#x27;listing_rate_change_pct&#x27;: 83.63636363636364, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 101, &#x27;trailing_3mo_rate&#x27;: 33.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Open-weights models carry 52.5% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-08-16 16:00:00+00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 5.624961765550318, &#x27;source_period&#x27;: &#x27;2026-07-01&#x27;, &#x27;value&#x27;: 467580548000.0, &#x27;yoy_pct&#x27;: 44.68755126916978}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.82/MWh vs prior 14-day $50.78/MWh (-19.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 40.81820404761904, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.77980836915536, &#x27;caiso_da_trend_pct&#x27;: -19.617254655862766}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.08 MMBtu/MWh vs prior 14-day 17.92 (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.07524277504105, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.92102081473945, &#x27;caiso_heat_rate_trend_pct&#x27;: -21.45959250566449, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +31.00% vs control mean +3.92% (gap +27.09pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -8.485146574646697, &#x27;dc_load_premium_pp&#x27;: 27.08665934464689, &#x27;erco_load_yoy_7d_pct&#x27;: 16.3176492686319, &#x27;pjm_load_yoy_7d_pct&#x27;: 31.002910691639492}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +29.89% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 89497.0, &#x27;nova_load_yoy_7d_pct&#x27;: 29.887771117491315, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.16178338968170225, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;value&#x27;: 65.320600350164}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:46:13+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.856</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;dc_load_anomaly_z&#x27;: -0.8564871052140255, &#x27;dc_load_growth_yoy&#x27;: 19.23047965170996}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.385741883966965, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;value&#x27;: 113.72413994368466}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.7364519201731756, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;value&#x27;: 92.35893012142886}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.7658133956267585, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;value&#x27;: 116.87145356080674}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.498395310554835, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;value&#x27;: 101.20455548855966}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.2157801988860526, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;value&#x27;: 130.39402474861558}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.3355957970741841, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;value&#x27;: 99.61264446739978}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.238.; Two-year own-history percentile: 36.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 36.14190687361419, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23753744152529024, &#x27;pair_count&#x27;: 17578, &#x27;symbol_count&#x27;: 188}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.8653310453866414, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;value&#x27;: 102.92581022528738}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.2682758901503379, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;value&#x27;: 100.23170147358907}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.2554201983857807, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;value&#x27;: 103.74848137249346}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.2651362749771522, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;value&#x27;: 92.58705736516451}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;vix_vix3m&#x27;: 0.8250993753549118}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 5.370307384656026, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;value&#x27;: 108.37808406923408}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-04 / 2026-09-04 09:20:40+00:00</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.66, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.35, &#x27;event_date&#x27;: &#x27;2026-08-04&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 22.963, &#x27;symbol&#x27;: &#x27;AMD&#x27;}</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-30 / 2026-08-23 11:29:20+00:00</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.88, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.83, &#x27;event_date&#x27;: &#x27;2026-07-30&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 2.7322, &#x27;symbol&#x27;: &#x27;AMZN&#x27;}</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-01 01:19:14+00:00</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 6.18, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 7.1, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: -12.9577, &#x27;symbol&#x27;: &#x27;META&#x27;}</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-06 13:28:11+00:00</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 4.74, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 4.21, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 12.5891, &#x27;symbol&#x27;: &#x27;MSFT&#x27;}</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-26 / 2026-09-05 11:11:50+00:00</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 2.22, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 2.09, &#x27;event_date&#x27;: &#x27;2026-08-26&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-07-31&#x27;, &#x27;surprise_pct&#x27;: 6.2201, &#x27;symbol&#x27;: &#x27;NVDA&#x27;}</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-06-10 / 2026-09-02 23:41:24+00:00</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.79, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.58, &#x27;event_date&#x27;: &#x27;2026-06-10&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-05-31&#x27;, &#x27;surprise_pct&#x27;: 13.2911, &#x27;symbol&#x27;: &#x27;ORCL&#x27;}</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:55:46+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,231B (conditional on an IPO), -2.00% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $11,410.; Probability-weighted bucket midpoint: $1,231B.; Seven-day implied-cap change: -2.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.077, &#x27;full_set_prob_sum&#x27;: 0.992, &#x27;implied_cap_change_7d_pct&#x27;: -1.995231612536108, &#x27;implied_cap_usd_b&#x27;: 1230.5194805194806, &#x27;ipo_by_2026_prob&#x27;: 0.07, &#x27;no_ipo_by_2026_prob&#x27;: 0.915, &#x27;volume_24h_total&#x27;: 11410.042747000001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-12</td><td class=\"num\">90,539</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n<tr><td>CISO</td><td>2026-09-12</td><td class=\"num\">475,195</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-09-12</td><td class=\"num\">917,829</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-09-12</td><td class=\"num\">1,335,952</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n<tr><td>SOCO</td><td>2026-09-12</td><td class=\"num\">380,039</td><td class=\"num\">14</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">39.26</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">36.37</td><td class=\"num\">0</td><td class=\"num\">-2.888</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">35.68</td><td class=\"num\">0</td><td class=\"num\">-3.576</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.679</li>\n<li>as of: 2026-09-08</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 04:15:14</td><td>2026-09-08 00:45:05</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>cef_nav</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:02:34</td><td>2026-09-04 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-12 05:20:05</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-13 04:32:32</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 04:07:01</td><td>2026-10-29 00:00:00</td><td>ConnectionError: Request failed:</td></tr>\n<tr><td>earnings_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 07:04:05</td><td>2026-10-29 00:00:00</td><td>ConnectionError: Request failed:</td></tr>\n<tr><td>edgar_disclosures</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 03:59:27</td><td>2026-09-04 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-12 04:09:13</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 04:51:45</td><td>2026-09-12 14:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 04:26:23</td><td>2026-09-08 04:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3196</td><td>2026-09-13 03:59:57</td><td>2026-09-12 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 05:05:31</td><td>2026-09-07 00:00:00</td><td>IngestionError: equity_ohlcv: all 264 symbols failed — provider-level outage</td></tr>\n<tr><td>gpu_spot</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 04:46:22</td><td>2026-09-08 00:00:00</td><td>RuntimeError: all GPU marketplace fetches failed: vast:H100: Request timed out: ; vast:H200: host sticky-blocked: console.vast.ai; vast:B200: host sticky-blocked: console.vast.ai; runpod: Request time</td></tr>\n<tr><td>hf_model_stats</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:07:19</td><td>2026-09-07 00:00:00</td><td>IngestionError: hf_model_stats: all 12 orgs failed — provider-level outage</td></tr>\n<tr><td>iso_lmp</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 05:01:28</td><td>2026-09-13 06:00:00</td><td>RuntimeError: all required ISO fetches failed: CAISO: gridstatus CAISO DA fetch failed: HTTPConnectionPool(host=&#x27;oasis.caiso.com&#x27;, port=80): Max retries exceeded with url: /oasisapi/SingleZip?resultfo</td></tr>\n<tr><td>korea_exports</td><td>skipped</td><td class=\"num\">0</td><td>2026-09-13 03:44:39</td><td>2026-08-20 00:00:00</td><td>korea customs unreachable/unavailable and no item-trade row: Request failed:</td></tr>\n<tr><td>model_catalog</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 04:45:06</td><td>2026-09-07 00:00:00</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>model_usage</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:31:51</td><td>2026-09-06 00:00:00</td><td>ConnectionError: host sticky-blocked: openrouter.ai</td></tr>\n<tr><td>natgas</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 05:27:34</td><td>2026-09-01 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>openrouter_activity</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:23:12</td><td>2026-09-06 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 01:33:50</td><td>2026-09-08 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-12 05:10:09</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>error</td><td class=\"num\">0</td><td>2026-09-13 02:13:38</td><td>2026-07-01 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): korea_exports</li>\n<li>Errored last run: catalyst_markets, cef_nav, earnings_calendar, earnings_events, edgar_disclosures, eia930, eia930_subba, equity_ohlcv, gpu_spot, hf_model_stats, iso_lmp, model_catalog, model_usage, natgas, openrouter_activity, policy_events, tsmc_revenue</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-13T05:10:08Z",
      "id": "urn:prexel:issue:5ef21777-ced3-5bbb-b9ce-99f1e7c4bc2c",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 21 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-12-daily-0fe80ac0adae.html"
    },
    {
      "_prexel": {
        "content_hash": "720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004",
        "context_hash": "fd9f19626ac0dfa806da3a0b8c295ca23440a8bb00684d0ab5040feac11f1671",
        "kind": "daily",
        "period_end": "2026-09-11"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-22 05:57:30.836000 · correction <code>3fd41689316d8a7bafd13583b882921848983c7fd07d51b67c670e19f0ce207f</code> · hash <code>8528375b70f378ff008bf388b7539d4decc10b05f49ed43dac080b2a3328a531</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-21 01:56:32.522000 · correction <code>e4a4c65edf154169a2b8c0661339af5ee33f36abbccb9b4d27702f8e50b9a358</code> · hash <code>c6704975a2710b568f64e0819df4d877225d29126a93074a0d80c3c4a61b53d7</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45.522000 · correction <code>ba556ba383e5a36b89578cfaac90cfbc6b4d5a0924d6baa16d116970d663f0c2</code> · hash <code>5e7f70a6e003a30cc31418fc842276ceb09c5c1d7d5d0f62975ef6621e4160e3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-20 13:53:45.522000 · correction <code>862d21a7f5dc450ae1a190ef4c2f3e69adf8ad09f64f79c5991f7891929a55b7</code> · hash <code>8fd9da323888b5641f324c1bd803ede356bca8b7ec7672677773995a2f84e77f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05.085000 · correction <code>6e006f5ba114fa5894843fa68a66e2de0bd22afcabb27d14fa84c6047f0c07ae</code> · hash <code>d434488f5b00cf21ceb3dc6a8adc1ce5859f59f0f15a61319f3f933ffdb6036f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05.085000 · correction <code>326baaeb81d33360c32d4b0f8dc841db1a88748c1d53d4ac1064d17f0993a09f</code> · hash <code>3068ee9a6dbef4286949af729aaff7919c9dd19e3c69fd722de6dd9f474f6ee0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>720bdcbcb54b01fcf7ac508e62cb713d8e56c41144717bd4474d15b6c080d004</code> · effective 2026-09-18 04:22:05.085000 · correction <code>1961cd6a61b583794326d27b97e2b81feca9b37347f6ded1f5bb23bcef50bb1b</code> · hash <code>ed7457b768e1ee985494fe6632e31839dda3f4ddb910d71bd55a70b8bcdc4619</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 20 (daily)</h1>\n<p>Period: 2026-09-11 → 2026-09-11</p>\n<p>Context hash: <code>fd9f19626ac0dfa806da3a0b8c295ca23440a8bb00684d0ab5040feac11f1671</code></p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 18 bullish, 6 bearish, 12 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.2785487708168133; b200_h100_ratio_change_14d_pct=-0.18256610333412082; b200_offered_usd_hr=6.385; band_measured_pct=-18.256610333412084; band_pct=5.0; h100_spot_usd_hr=2.8022222222222206</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.2785487708168133, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.18256610333412082, &#x27;b200_offered_usd_hr&#x27;: 6.385, &#x27;band_measured_pct&#x27;: -18.256610333412084, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222206}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.013333333333333334; h100_depth_smoothed_3d=55.5; h100_dispersion_smoothed_3d=2.1835992336273193; h100_price_change_14d_pct=0.18933630473639876</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.013333333333333334, &#x27;h100_depth_smoothed_3d&#x27;: 55.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1835992336273193, &#x27;h100_price_change_14d_pct&#x27;: 0.18933630473639876}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Up 8.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.857031222642409, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2190654074, &#x27;total_tokens&#x27;: 144877555897528}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.51pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.42817630231052, &#x27;top10_share_change_14d_pp&#x27;: 2.505099718109335}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The fixed-basket price is $0.737/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The token-weighted effective price is $0.754/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-06 12:53:38+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.333333333333332, &#x27;listing_rate_change_pct&#x27;: 83.63636363636364, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 101, &#x27;trailing_3mo_rate&#x27;: 33.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Open-weights models carry 52.5% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-08-16 16:00:00+00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 5.624961765550318, &#x27;source_period&#x27;: &#x27;2026-07-01&#x27;, &#x27;value&#x27;: 467580548000.0, &#x27;yoy_pct&#x27;: 44.68755126916978}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.82/MWh vs prior 14-day $50.78/MWh (-19.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 40.81820404761904, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.77980836915536, &#x27;caiso_da_trend_pct&#x27;: -19.617254655862766}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.08 MMBtu/MWh vs prior 14-day 17.92 (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.07524277504105, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.92102081473945, &#x27;caiso_heat_rate_trend_pct&#x27;: -21.45959250566449, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +31.00% vs control mean +3.92% (gap +27.09pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -8.485146574646697, &#x27;dc_load_premium_pp&#x27;: 27.08665934464689, &#x27;erco_load_yoy_7d_pct&#x27;: 16.3176492686319, &#x27;pjm_load_yoy_7d_pct&#x27;: 31.002910691639492}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +29.89% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 89497.0, &#x27;nova_load_yoy_7d_pct&#x27;: 29.887771117491315, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.16178338968170225, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;value&#x27;: 65.320600350164}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:46:13+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.856</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;dc_load_anomaly_z&#x27;: -0.8564871052140255, &#x27;dc_load_growth_yoy&#x27;: 19.23047965170996}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.385741883966965, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;value&#x27;: 113.72413994368466}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.7364519201731756, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;value&#x27;: 92.35893012142886}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.7658133956267585, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;value&#x27;: 116.87145356080674}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.498395310554835, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;value&#x27;: 101.20455548855966}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.2157801988860526, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;value&#x27;: 130.39402474861558}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.3355957970741841, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;value&#x27;: 99.61264446739978}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.238.; Two-year own-history percentile: 36.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 36.14190687361419, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23753744152529024, &#x27;pair_count&#x27;: 17578, &#x27;symbol_count&#x27;: 188}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.8653310453866414, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;value&#x27;: 102.92581022528738}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.2682758901503379, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;value&#x27;: 100.23170147358907}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.2554201983857807, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;value&#x27;: 103.74848137249346}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.2651362749771522, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;value&#x27;: 92.58705736516451}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;vix_vix3m&#x27;: 0.8250993753549118}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 5.370307384656026, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;value&#x27;: 108.37808406923408}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-04 / 2026-09-04 09:20:40+00:00</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.66, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.35, &#x27;event_date&#x27;: &#x27;2026-08-04&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 22.963, &#x27;symbol&#x27;: &#x27;AMD&#x27;}</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-30 / 2026-08-23 11:29:20+00:00</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.88, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.83, &#x27;event_date&#x27;: &#x27;2026-07-30&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 2.7322, &#x27;symbol&#x27;: &#x27;AMZN&#x27;}</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-01 01:19:14+00:00</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 6.18, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 7.1, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: -12.9577, &#x27;symbol&#x27;: &#x27;META&#x27;}</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-06 13:28:11+00:00</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 4.74, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 4.21, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 12.5891, &#x27;symbol&#x27;: &#x27;MSFT&#x27;}</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-26 / 2026-09-05 11:11:50+00:00</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 2.22, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 2.09, &#x27;event_date&#x27;: &#x27;2026-08-26&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-07-31&#x27;, &#x27;surprise_pct&#x27;: 6.2201, &#x27;symbol&#x27;: &#x27;NVDA&#x27;}</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-06-10 / 2026-09-02 23:41:24+00:00</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.79, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.58, &#x27;event_date&#x27;: &#x27;2026-06-10&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-05-31&#x27;, &#x27;surprise_pct&#x27;: 13.2911, &#x27;symbol&#x27;: &#x27;ORCL&#x27;}</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:55:46+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,231B (conditional on an IPO), -2.00% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $11,410.; Probability-weighted bucket midpoint: $1,231B.; Seven-day implied-cap change: -2.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.077, &#x27;full_set_prob_sum&#x27;: 0.992, &#x27;implied_cap_change_7d_pct&#x27;: -1.995231612536108, &#x27;implied_cap_usd_b&#x27;: 1230.5194805194806, &#x27;ipo_by_2026_prob&#x27;: 0.07, &#x27;no_ipo_by_2026_prob&#x27;: 0.915, &#x27;volume_24h_total&#x27;: 11410.042747000001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-09</td><td class=\"num\">162,190</td><td class=\"num\">22</td><td class=\"num\">0.3972</td><td class=\"num\">17.64</td></tr>\n<tr><td>CISO</td><td>2026-09-09</td><td class=\"num\">829,542</td><td class=\"num\">22</td><td class=\"num\">0.2206</td><td class=\"num\">17.53</td></tr>\n<tr><td>ERCO</td><td>2026-09-09</td><td class=\"num\">1,592,198</td><td class=\"num\">22</td><td class=\"num\">-6.446</td><td class=\"num\">12.49</td></tr>\n<tr><td>PJM</td><td>2026-09-09</td><td class=\"num\">2,417,796</td><td class=\"num\">22</td><td class=\"num\">-1.415</td><td class=\"num\">14.76</td></tr>\n<tr><td>SOCO</td><td>2026-09-09</td><td class=\"num\">695,107</td><td class=\"num\">22</td><td class=\"num\">-5.017</td><td class=\"num\">6.168</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">144.30</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">149.73</td><td class=\"num\">0</td><td class=\"num\">5.427</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">144.30</td><td class=\"num\">0</td><td class=\"num\">0.0008214</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.679</li>\n<li>as of: 2026-09-08</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 02:58:25</td><td>2026-09-08 00:45:05</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>cef_nav</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 03:34:36</td><td>2026-09-04 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-11 05:20:05</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-12 02:36:27</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 03:48:46</td><td>2026-10-29 00:00:00</td><td>ConnectionError: Request failed:</td></tr>\n<tr><td>earnings_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 05:30:29</td><td>2026-10-29 00:00:00</td><td>ConnectionError: Request failed:</td></tr>\n<tr><td>edgar_disclosures</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 03:55:31</td><td>2026-09-04 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-12 04:09:13</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 04:31:22</td><td>2026-09-09 22:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 05:02:57</td><td>2026-09-08 04:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3202</td><td>2026-09-11 06:09:25</td><td>2026-09-10 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 05:05:31</td><td>2026-09-07 00:00:00</td><td>IngestionError: equity_ohlcv: all 264 symbols failed — provider-level outage</td></tr>\n<tr><td>gpu_spot</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 03:55:44</td><td>2026-09-08 00:00:00</td><td>RuntimeError: all GPU marketplace fetches failed: vast:H100: Request timed out: ; vast:H200: host sticky-blocked: console.vast.ai; vast:B200: host sticky-blocked: console.vast.ai; runpod: Request time</td></tr>\n<tr><td>hf_model_stats</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 02:58:48</td><td>2026-09-07 00:00:00</td><td>IngestionError: hf_model_stats: all 12 orgs failed — provider-level outage</td></tr>\n<tr><td>iso_lmp</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 04:12:46</td><td>2026-09-10 06:00:00</td><td>RuntimeError: all required ISO fetches failed: CAISO: gridstatus CAISO DA fetch failed: HTTPConnectionPool(host=&#x27;oasis.caiso.com&#x27;, port=80): Max retries exceeded with url: /oasisapi/SingleZip?resultfo</td></tr>\n<tr><td>korea_exports</td><td>skipped</td><td class=\"num\">0</td><td>2026-09-12 04:43:48</td><td>2026-08-20 00:00:00</td><td>korea customs unreachable/unavailable and no item-trade row: Request failed:</td></tr>\n<tr><td>model_catalog</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 04:45:06</td><td>2026-09-07 00:00:00</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>model_usage</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 02:56:59</td><td>2026-09-06 00:00:00</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>natgas</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 04:33:12</td><td>2026-09-01 00:00:00</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>openrouter_activity</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 02:31:34</td><td>2026-09-06 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 00:19:42</td><td>2026-09-08 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-11 05:10:07</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>error</td><td class=\"num\">0</td><td>2026-09-12 03:47:47</td><td>2026-07-01 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): korea_exports</li>\n<li>Errored last run: catalyst_markets, cef_nav, earnings_calendar, earnings_events, edgar_disclosures, eia930, eia930_subba, equity_ohlcv, gpu_spot, hf_model_stats, iso_lmp, model_catalog, model_usage, natgas, openrouter_activity, policy_events, tsmc_revenue</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-12T05:10:09Z",
      "id": "urn:prexel:issue:9b695780-d3fe-5e81-b084-b2d3f6cc4a6e",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 20 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-11-daily-720bdcbcb54b.html"
    },
    {
      "_prexel": {
        "content_hash": "a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f",
        "context_hash": "a60be8dac1d40b4fa9ae2918c1091470443dfac9747b88a73d902696ec1fffd8",
        "kind": "daily",
        "period_end": "2026-09-10"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-22 05:57:30.836000 · correction <code>ec6c1df1f8acef6070afd842ce8cfc30e45c11d243c95e11e816dc0dff2683ae</code> · hash <code>9db663e3c8979e1cee303426f5593684451ca86656767701cae004824752f7af</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-21 01:56:32.522000 · correction <code>669be8be769fbf3de9d5ce1b57a4d9a16c880495d8de32dd4bf9c6fd1f39f6e0</code> · hash <code>5f9cedcd69af29e06c2746c9e5952c609eaacd4940e1224bd468896aeb2642cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45.522000 · correction <code>9bbcd7e7d3fa924d5051fc8bea580ae289856e2f230f3ecad105fd08dc213883</code> · hash <code>f4533f38f29db11623d56f9c7d8313240dfe066637da02887e66cf10713605fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-20 13:53:45.522000 · correction <code>45a7eb836b2d9df334ba8d376f638b8b6d918208b1e2cd64aa9134ad8792ab89</code> · hash <code>078f68600f41de578e3fe006af1b4c7714fd431dd5b2b5fced4dd1bcc4dc620f</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05.085000 · correction <code>ebb9200b56024cdf1955f4b1c6e1b5e4336f07abbbd7fb5fd0eb72ec6e90e162</code> · hash <code>5bbb36c3731a03fe8e85a8e62e843770273a7cf9ef4f3d902cefd666c53bfbc8</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05.085000 · correction <code>6ca339b2cb6a917e97f5096d4523ebd0bea5e7d1d7e409577a8ba58c832de712</code> · hash <code>4eec4ea0c52324e91bf623ccbc1174361d0b298baaabd99ccdabc95bb4bc5495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>a0d4338f847705aa0b3fdfd76d6eb38d5785005062c4f5e4e12ce1b90812209f</code> · effective 2026-09-18 04:22:05.085000 · correction <code>43a3a3374451b5b10b0dcaa0db0570a4b158d74fa24cfecb97930f9181ac437c</code> · hash <code>1ca143adbd29dd73f128b819baf5e8e46dcd907d839e3a4945c1985edcb12926</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 19 (daily)</h1>\n<p>Period: 2026-09-10 → 2026-09-10</p>\n<p>Context hash: <code>a60be8dac1d40b4fa9ae2918c1091470443dfac9747b88a73d902696ec1fffd8</code></p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 18 bullish, 6 bearish, 12 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.2785487708168133; b200_h100_ratio_change_14d_pct=-0.18256610333412082; b200_offered_usd_hr=6.385; band_measured_pct=-18.256610333412084; band_pct=5.0; h100_spot_usd_hr=2.8022222222222206</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.2785487708168133, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.18256610333412082, &#x27;b200_offered_usd_hr&#x27;: 6.385, &#x27;band_measured_pct&#x27;: -18.256610333412084, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222206}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.013333333333333334; h100_depth_smoothed_3d=55.5; h100_dispersion_smoothed_3d=2.1835992336273193; h100_price_change_14d_pct=0.18933630473639876</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.013333333333333334, &#x27;h100_depth_smoothed_3d&#x27;: 55.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1835992336273193, &#x27;h100_price_change_14d_pct&#x27;: 0.18933630473639876}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Up 8.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.857031222642409, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2190654074, &#x27;total_tokens&#x27;: 144877555897528}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.51pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.42817630231052, &#x27;top10_share_change_14d_pp&#x27;: 2.505099718109335}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The fixed-basket price is $0.737/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The token-weighted effective price is $0.754/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-06 12:53:38+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.333333333333332, &#x27;listing_rate_change_pct&#x27;: 83.63636363636364, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 101, &#x27;trailing_3mo_rate&#x27;: 33.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Open-weights models carry 52.5% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-08-16 16:00:00+00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 5.624961765550318, &#x27;source_period&#x27;: &#x27;2026-07-01&#x27;, &#x27;value&#x27;: 467580548000.0, &#x27;yoy_pct&#x27;: 44.68755126916978}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.82/MWh vs prior 14-day $50.78/MWh (-19.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 40.81820404761904, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.77980836915536, &#x27;caiso_da_trend_pct&#x27;: -19.617254655862766}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.08 MMBtu/MWh vs prior 14-day 17.92 (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.07524277504105, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.92102081473945, &#x27;caiso_heat_rate_trend_pct&#x27;: -21.45959250566449, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +31.00% vs control mean +3.92% (gap +27.09pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -8.485146574646697, &#x27;dc_load_premium_pp&#x27;: 27.08665934464689, &#x27;erco_load_yoy_7d_pct&#x27;: 16.3176492686319, &#x27;pjm_load_yoy_7d_pct&#x27;: 31.002910691639492}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +29.89% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 89497.0, &#x27;nova_load_yoy_7d_pct&#x27;: 29.887771117491315, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.16178338968170225, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;value&#x27;: 65.320600350164}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:46:13+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.856</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;dc_load_anomaly_z&#x27;: -0.8564871052140255, &#x27;dc_load_growth_yoy&#x27;: 19.23047965170996}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.385741883966965, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;value&#x27;: 113.72413994368466}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.7364519201731756, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;value&#x27;: 92.35893012142886}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.7658133956267585, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;value&#x27;: 116.87145356080674}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.498395310554835, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;value&#x27;: 101.20455548855966}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.2157801988860526, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;value&#x27;: 130.39402474861558}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.3355957970741841, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;value&#x27;: 99.61264446739978}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.238.; Two-year own-history percentile: 36.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 36.14190687361419, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23753744152529024, &#x27;pair_count&#x27;: 17578, &#x27;symbol_count&#x27;: 188}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.8653310453866414, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;value&#x27;: 102.92581022528738}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.2682758901503379, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;value&#x27;: 100.23170147358907}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.2554201983857807, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;value&#x27;: 103.74848137249346}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.2651362749771522, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;value&#x27;: 92.58705736516451}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;vix_vix3m&#x27;: 0.8250993753549118}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 5.370307384656026, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;value&#x27;: 108.37808406923408}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-04 / 2026-09-04 09:20:40+00:00</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.66, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.35, &#x27;event_date&#x27;: &#x27;2026-08-04&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 22.963, &#x27;symbol&#x27;: &#x27;AMD&#x27;}</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-30 / 2026-08-23 11:29:20+00:00</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.88, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.83, &#x27;event_date&#x27;: &#x27;2026-07-30&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 2.7322, &#x27;symbol&#x27;: &#x27;AMZN&#x27;}</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-01 01:19:14+00:00</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 6.18, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 7.1, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: -12.9577, &#x27;symbol&#x27;: &#x27;META&#x27;}</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-06 13:28:11+00:00</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 4.74, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 4.21, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 12.5891, &#x27;symbol&#x27;: &#x27;MSFT&#x27;}</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-26 / 2026-09-05 11:11:50+00:00</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 2.22, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 2.09, &#x27;event_date&#x27;: &#x27;2026-08-26&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-07-31&#x27;, &#x27;surprise_pct&#x27;: 6.2201, &#x27;symbol&#x27;: &#x27;NVDA&#x27;}</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-06-10 / 2026-09-02 23:41:24+00:00</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.79, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.58, &#x27;event_date&#x27;: &#x27;2026-06-10&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-05-31&#x27;, &#x27;surprise_pct&#x27;: 13.2911, &#x27;symbol&#x27;: &#x27;ORCL&#x27;}</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:55:46+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,231B (conditional on an IPO), -2.00% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $11,410.; Probability-weighted bucket midpoint: $1,231B.; Seven-day implied-cap change: -2.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.077, &#x27;full_set_prob_sum&#x27;: 0.992, &#x27;implied_cap_change_7d_pct&#x27;: -1.995231612536108, &#x27;implied_cap_usd_b&#x27;: 1230.5194805194806, &#x27;ipo_by_2026_prob&#x27;: 0.07, &#x27;no_ipo_by_2026_prob&#x27;: 0.915, &#x27;volume_24h_total&#x27;: 11410.042747000001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-06</td><td class=\"num\">142,231</td><td class=\"num\">24</td><td class=\"num\">-1.49</td><td class=\"num\">4.807</td></tr>\n<tr><td>CISO</td><td>2026-09-06</td><td class=\"num\">644,226</td><td class=\"num\">24</td><td class=\"num\">-2.578</td><td class=\"num\">-6.107</td></tr>\n<tr><td>ERCO</td><td>2026-09-06</td><td class=\"num\">1,657,255</td><td class=\"num\">24</td><td class=\"num\">-1.499</td><td class=\"num\">25.8</td></tr>\n<tr><td>PJM</td><td>2026-09-06</td><td class=\"num\">2,343,735</td><td class=\"num\">24</td><td class=\"num\">-0.8565</td><td class=\"num\">19.23</td></tr>\n<tr><td>SOCO</td><td>2026-09-06</td><td class=\"num\">752,705</td><td class=\"num\">24</td><td class=\"num\">-0.6777</td><td class=\"num\">18.19</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.47</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">45.31</td><td class=\"num\">0</td><td class=\"num\">0.8437</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.14</td><td class=\"num\">0</td><td class=\"num\">-1.325</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">36.33</td><td class=\"num\">0</td><td class=\"num\">5.526</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">30.8</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.802</li>\n<li>as of: 2026-09-06</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 03:52:40</td><td>2026-09-08 00:45:05</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>cef_nav</td><td>error</td><td class=\"num\">0</td><td>2026-09-10 22:44:08</td><td>2026-09-04 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-10 05:28:29</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-11 02:28:28</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 04:10:20</td><td>2026-09-04 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-11 04:10:50</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 04:52:13</td><td>2026-09-09 22:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 04:17:13</td><td>2026-09-08 04:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3193</td><td>2026-09-07 14:29:15</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 03:48:14</td><td>2026-09-07 00:00:00</td><td>IngestionError: equity_ohlcv: all 264 symbols failed — provider-level outage</td></tr>\n<tr><td>gpu_spot</td><td>error</td><td class=\"num\">0</td><td>2026-09-10 15:04:30</td><td>2026-09-08 00:00:00</td><td>RuntimeError: all GPU marketplace fetches failed: vast:H100: Request timed out: ; vast:H200: host sticky-blocked: console.vast.ai; vast:B200: host sticky-blocked: console.vast.ai; runpod: Request time</td></tr>\n<tr><td>hf_model_stats</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 02:51:34</td><td>2026-09-07 00:00:00</td><td>IngestionError: hf_model_stats: all 12 orgs failed — provider-level outage</td></tr>\n<tr><td>iso_lmp</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 04:09:45</td><td>2026-09-10 06:00:00</td><td>RuntimeError: all required ISO fetches failed: CAISO: gridstatus CAISO DA fetch failed: HTTPConnectionPool(host=&#x27;oasis.caiso.com&#x27;, port=80): Max retries exceeded with url: /oasisapi/SingleZip?resultfo</td></tr>\n<tr><td>korea_exports</td><td>skipped</td><td class=\"num\">0</td><td>2026-09-11 02:22:22</td><td>2026-08-20 00:00:00</td><td>korea customs unreachable/unavailable and no item-trade row: Request failed:</td></tr>\n<tr><td>model_catalog</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 02:44:01</td><td>2026-09-07 00:00:00</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>model_usage</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 04:24:51</td><td>2026-09-06 00:00:00</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>natgas</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 04:33:12</td><td>2026-09-01 00:00:00</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>openrouter_activity</td><td>error</td><td class=\"num\">0</td><td>2026-09-11 04:48:18</td><td>2026-09-06 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>policy_events</td><td>error</td><td class=\"num\">0</td><td>2026-09-10 17:36:37</td><td>2026-09-08 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-10 05:12:31</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>error</td><td class=\"num\">0</td><td>2026-09-10 17:37:03</td><td>2026-07-01 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): korea_exports</li>\n<li>Errored last run: catalyst_markets, cef_nav, edgar_disclosures, eia930, eia930_subba, equity_ohlcv, gpu_spot, hf_model_stats, iso_lmp, model_catalog, model_usage, natgas, openrouter_activity, policy_events, tsmc_revenue</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-11T05:10:07Z",
      "id": "urn:prexel:issue:3e9f596e-f00e-5b27-be69-a422ab82cfa0",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 19 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-10-daily-a0d4338f8477.html"
    },
    {
      "_prexel": {
        "content_hash": "bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968",
        "context_hash": "646b9d2f9a1f54d97b08c6466ef13bfe94788174c629a81d6fc88a5062a377dc",
        "kind": "daily",
        "period_end": "2026-09-09"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-22 05:57:30.836000 · correction <code>bc28552ce20d8a85c6d13c6686894501a368909e448657bbaa67ef9ef6991b0b</code> · hash <code>1bceea264e2b68104282c8bb0d64f0ae91ec6f7d1fae7baffc3167cd87b4e9f7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-21 01:56:32.522000 · correction <code>1213bee0649bbf6c3582479554a3c46f416f5ca6034e391e8b3a8d4a96e1359d</code> · hash <code>e5cb99f87c1f5f337b5917bea7b0eab0889fa508d0be397b086f36a68cf81f63</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45.522000 · correction <code>e69e443156ed78be1a37860f6a72209714338944e0e454eab192c304bcc1b65e</code> · hash <code>66fc60a2e265abdd827a699405560247d002cce32f35e316940b22f3cdc706e9</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-20 13:53:45.522000 · correction <code>24d52870663f7cadd7a52cb282c38f28fcbaa4b4519724ee062ff76a39753961</code> · hash <code>1d69fa262d61d8980e9df45fde1488c110b43a373ff8ddb4dbfa714af569babe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05.085000 · correction <code>4477c9ef6a48547e3b800301ad1888b81ebeaa563256f1d5ae7121f562638663</code> · hash <code>ab695b0d97a4100719a4626f304f1747410337303ecca074327637445283af66</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05.085000 · correction <code>25e63f08e80c9e123eb36fde774c0739d750cbd8696f25cf2d26cc02a14f62af</code> · hash <code>7e4ceeb2f239d77b5348530df0b7e8907fbb9f94bda6b6e3c7f19ccdc21d081c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>bf9593f20664bf475a9bd7a04578862f47eb3b67cd0d41f4c973eb0d5faf4968</code> · effective 2026-09-18 04:22:05.085000 · correction <code>0f574a6ba95ca7ad9a0bf50683c34f3810c47da18706f754bf94223d14d590fc</code> · hash <code>8502e36f9913315ec6500a8da1494bd20fc0af54d4608e05b6841cebf3a8f70c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 18 (daily)</h1>\n<p>Period: 2026-09-09 → 2026-09-09</p>\n<p>Context hash: <code>646b9d2f9a1f54d97b08c6466ef13bfe94788174c629a81d6fc88a5062a377dc</code></p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 18 bullish, 6 bearish, 12 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.2785487708168133; b200_h100_ratio_change_14d_pct=-0.18256610333412082; b200_offered_usd_hr=6.385; band_measured_pct=-18.256610333412084; band_pct=5.0; h100_spot_usd_hr=2.8022222222222206</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.2785487708168133, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.18256610333412082, &#x27;b200_offered_usd_hr&#x27;: 6.385, &#x27;band_measured_pct&#x27;: -18.256610333412084, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222206}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.013333333333333334; h100_depth_smoothed_3d=55.5; h100_dispersion_smoothed_3d=2.1835992336273193; h100_price_change_14d_pct=0.18933630473639876</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.013333333333333334, &#x27;h100_depth_smoothed_3d&#x27;: 55.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1835992336273193, &#x27;h100_price_change_14d_pct&#x27;: 0.18933630473639876}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Up 8.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.857031222642409, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2190654074, &#x27;total_tokens&#x27;: 144877555897528}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.51pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.42817630231052, &#x27;top10_share_change_14d_pp&#x27;: 2.505099718109335}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The fixed-basket price is $0.737/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The token-weighted effective price is $0.754/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-06 12:53:38+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.333333333333332, &#x27;listing_rate_change_pct&#x27;: 83.63636363636364, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 101, &#x27;trailing_3mo_rate&#x27;: 33.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Open-weights models carry 52.5% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-08-16 16:00:00+00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 5.624961765550318, &#x27;source_period&#x27;: &#x27;2026-07-01&#x27;, &#x27;value&#x27;: 467580548000.0, &#x27;yoy_pct&#x27;: 44.68755126916978}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.82/MWh vs prior 14-day $50.78/MWh (-19.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 40.81820404761904, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.77980836915536, &#x27;caiso_da_trend_pct&#x27;: -19.617254655862766}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.08 MMBtu/MWh vs prior 14-day 17.92 (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.07524277504105, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.92102081473945, &#x27;caiso_heat_rate_trend_pct&#x27;: -21.45959250566449, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +31.00% vs control mean +3.92% (gap +27.09pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -8.485146574646697, &#x27;dc_load_premium_pp&#x27;: 27.08665934464689, &#x27;erco_load_yoy_7d_pct&#x27;: 16.3176492686319, &#x27;pjm_load_yoy_7d_pct&#x27;: 31.002910691639492}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +29.89% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 89497.0, &#x27;nova_load_yoy_7d_pct&#x27;: 29.887771117491315, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.16178338968170225, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;value&#x27;: 65.320600350164}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:46:13+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.856</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;dc_load_anomaly_z&#x27;: -0.8564871052140255, &#x27;dc_load_growth_yoy&#x27;: 19.23047965170996}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.385741883966965, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;value&#x27;: 113.72413994368466}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.7364519201731756, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;value&#x27;: 92.35893012142886}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.7658133956267585, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;value&#x27;: 116.87145356080674}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.498395310554835, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;value&#x27;: 101.20455548855966}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.2157801988860526, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;value&#x27;: 130.39402474861558}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.3355957970741841, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;value&#x27;: 99.61264446739978}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.238.; Two-year own-history percentile: 36.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 36.14190687361419, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23753744152529024, &#x27;pair_count&#x27;: 17578, &#x27;symbol_count&#x27;: 188}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.8653310453866414, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;value&#x27;: 102.92581022528738}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.2682758901503379, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;value&#x27;: 100.23170147358907}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.2554201983857807, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;value&#x27;: 103.74848137249346}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.2651362749771522, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;value&#x27;: 92.58705736516451}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;vix_vix3m&#x27;: 0.8250993753549118}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 5.370307384656026, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;value&#x27;: 108.37808406923408}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-04 / 2026-09-04 09:20:40+00:00</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.66, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.35, &#x27;event_date&#x27;: &#x27;2026-08-04&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 22.963, &#x27;symbol&#x27;: &#x27;AMD&#x27;}</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-30 / 2026-08-23 11:29:20+00:00</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.88, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.83, &#x27;event_date&#x27;: &#x27;2026-07-30&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 2.7322, &#x27;symbol&#x27;: &#x27;AMZN&#x27;}</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-01 01:19:14+00:00</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 6.18, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 7.1, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: -12.9577, &#x27;symbol&#x27;: &#x27;META&#x27;}</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-06 13:28:11+00:00</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 4.74, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 4.21, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 12.5891, &#x27;symbol&#x27;: &#x27;MSFT&#x27;}</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-26 / 2026-09-05 11:11:50+00:00</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 2.22, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 2.09, &#x27;event_date&#x27;: &#x27;2026-08-26&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-07-31&#x27;, &#x27;surprise_pct&#x27;: 6.2201, &#x27;symbol&#x27;: &#x27;NVDA&#x27;}</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-06-10 / 2026-09-02 23:41:24+00:00</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.79, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.58, &#x27;event_date&#x27;: &#x27;2026-06-10&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-05-31&#x27;, &#x27;surprise_pct&#x27;: 13.2911, &#x27;symbol&#x27;: &#x27;ORCL&#x27;}</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:55:46+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,231B (conditional on an IPO), -2.00% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $11,410.; Probability-weighted bucket midpoint: $1,231B.; Seven-day implied-cap change: -2.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.077, &#x27;full_set_prob_sum&#x27;: 0.992, &#x27;implied_cap_change_7d_pct&#x27;: -1.995231612536108, &#x27;implied_cap_usd_b&#x27;: 1230.5194805194806, &#x27;ipo_by_2026_prob&#x27;: 0.07, &#x27;no_ipo_by_2026_prob&#x27;: 0.915, &#x27;volume_24h_total&#x27;: 11410.042747000001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-06</td><td class=\"num\">142,231</td><td class=\"num\">24</td><td class=\"num\">-1.49</td><td class=\"num\">4.807</td></tr>\n<tr><td>CISO</td><td>2026-09-06</td><td class=\"num\">644,226</td><td class=\"num\">24</td><td class=\"num\">-2.578</td><td class=\"num\">-6.107</td></tr>\n<tr><td>ERCO</td><td>2026-09-06</td><td class=\"num\">1,657,255</td><td class=\"num\">24</td><td class=\"num\">-1.499</td><td class=\"num\">25.8</td></tr>\n<tr><td>PJM</td><td>2026-09-06</td><td class=\"num\">2,343,735</td><td class=\"num\">24</td><td class=\"num\">-0.8565</td><td class=\"num\">19.23</td></tr>\n<tr><td>SOCO</td><td>2026-09-06</td><td class=\"num\">752,705</td><td class=\"num\">24</td><td class=\"num\">-0.6777</td><td class=\"num\">18.19</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.47</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">45.31</td><td class=\"num\">0</td><td class=\"num\">0.8437</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.14</td><td class=\"num\">0</td><td class=\"num\">-1.325</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">36.33</td><td class=\"num\">0</td><td class=\"num\">5.526</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">30.8</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.802</li>\n<li>as of: 2026-09-06</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-08 00:45:05</td><td>2026-09-08 00:45:05</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">5</td><td>2026-09-07 10:48:06</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-09 05:21:30</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-07 10:48:07</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:30</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-09-09 23:32:58</td><td>2026-09-09 22:00:00</td><td>ConnectionError: host sticky-blocked: api.eia.gov</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>error</td><td class=\"num\">0</td><td>2026-09-09 23:17:22</td><td>2026-09-08 04:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3193</td><td>2026-09-07 14:29:15</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">6110</td><td>2026-09-07 10:48:06</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">215</td><td>2026-09-08 04:31:20</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-07 10:48:07</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>error</td><td class=\"num\">0</td><td>2026-09-09 23:40:29</td><td>2026-09-10 06:00:00</td><td>RuntimeError: all required ISO fetches failed: CAISO: gridstatus CAISO DA fetch failed: HTTPConnectionPool(host=&#x27;oasis.caiso.com&#x27;, port=80): Max retries exceeded with url: /oasisapi/SingleZip?resultfo</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">430</td><td>2026-09-07 10:48:07</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">557</td><td>2026-09-07 10:48:07</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-07 10:48:06</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-07 10:48:06</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-07 10:48:06</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-09 05:21:32</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: eia930, eia930_subba, iso_lmp</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-10T05:12:32Z",
      "id": "urn:prexel:issue:c32c2f7f-4e3e-5546-84ad-7203f6ad5689",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 18 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-09-daily-bf9593f20664.html"
    },
    {
      "_prexel": {
        "content_hash": "dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df",
        "context_hash": "db0d77e2bfa658c61fd1876473b928ba5f4e7835738e83eefae4e2683e4bc20c",
        "kind": "daily",
        "period_end": "2026-09-08"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-22 05:57:30.836000 · correction <code>b1fb44dbae95254f80f923d0bfe755b2ca8a547b7da88ff3d5f868c57a5c5906</code> · hash <code>eac6abdefb29b42e1dcf82fd1a8d5bf518fbf49e58bac44e2984e476488bb0cd</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-21 01:56:32.522000 · correction <code>abc885d5bd58b6f2f6790f573ddecf344ceb315b59ee9851564409bd338818b0</code> · hash <code>40e38736cfc23d55698b8eaff26d8acc59175586a1acb8539b00ae114b5e509d</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45.522000 · correction <code>62c4ce4f3c1ff0b00b2ad546b1c6566c742f8626034c1b7dca3d9481aed8cb62</code> · hash <code>057500ce6173d43b4a9ae931d167f416f7abe266cf8629a48c55721f35769c09</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-20 13:53:45.522000 · correction <code>48963ffa5a3b7f46e50834922256df7993d4cf285a07dd92daee5c0a2585dd8d</code> · hash <code>24ca73f717ba57d225bdf0e535f8145a140383468f58250239246c68cfb2fc66</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05.085000 · correction <code>cd85f9ec7bd740239eda12f522c785938826958ff5b677f8ab6f9077405fa102</code> · hash <code>9d58923f7235bb8324056ce72ea1b1e83609601185f05c972b5dbc9143fabfd9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05.085000 · correction <code>b24053af9a3d10fd65083b5bcc76fc96cf491be45ecae1962e99d31b6a233e7c</code> · hash <code>873802dd009ff1eccc0f1c959cd6fed4d591da6aa5eb1c3319b907a0e1b52ccf</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>dfdac67f8d1741532d65b53b95c246c5ae2f9a708969a0f4a9b02252a925e8df</code> · effective 2026-09-18 04:22:05.085000 · correction <code>744db269096453b222ea3f130abd0f1bb478fa02dc691bb5e60a32816c61e542</code> · hash <code>f88a1f0ff066fe66cce76b7a2a6ff4e28b6667caf64aed84066237ffa1120c2b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 17 (daily)</h1>\n<p>Period: 2026-09-08 → 2026-09-08</p>\n<p>Context hash: <code>db0d77e2bfa658c61fd1876473b928ba5f4e7835738e83eefae4e2683e4bc20c</code></p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 18 bullish, 6 bearish, 12 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.2785487708168133; b200_h100_ratio_change_14d_pct=-0.18256610333412082; b200_offered_usd_hr=6.385; band_measured_pct=-18.256610333412084; band_pct=5.0; h100_spot_usd_hr=2.8022222222222206</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.2785487708168133, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.18256610333412082, &#x27;b200_offered_usd_hr&#x27;: 6.385, &#x27;band_measured_pct&#x27;: -18.256610333412084, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222206}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.013333333333333334; h100_depth_smoothed_3d=55.5; h100_dispersion_smoothed_3d=2.1835992336273193; h100_price_change_14d_pct=0.18933630473639876</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.013333333333333334, &#x27;h100_depth_smoothed_3d&#x27;: 55.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1835992336273193, &#x27;h100_price_change_14d_pct&#x27;: 0.18933630473639876}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Up 8.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.857031222642409, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2190654074, &#x27;total_tokens&#x27;: 144877555897528}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.51pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.42817630231052, &#x27;top10_share_change_14d_pp&#x27;: 2.505099718109335}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The fixed-basket price is $0.737/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The token-weighted effective price is $0.754/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-06 12:53:38+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.333333333333332, &#x27;listing_rate_change_pct&#x27;: 83.63636363636364, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 101, &#x27;trailing_3mo_rate&#x27;: 33.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Open-weights models carry 52.5% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-08-16 16:00:00+00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 5.624961765550318, &#x27;source_period&#x27;: &#x27;2026-07-01&#x27;, &#x27;value&#x27;: 467580548000.0, &#x27;yoy_pct&#x27;: 44.68755126916978}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.82/MWh vs prior 14-day $50.78/MWh (-19.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 40.81820404761904, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.77980836915536, &#x27;caiso_da_trend_pct&#x27;: -19.617254655862766}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.08 MMBtu/MWh vs prior 14-day 17.92 (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.07524277504105, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.92102081473945, &#x27;caiso_heat_rate_trend_pct&#x27;: -21.45959250566449, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +31.00% vs control mean +3.92% (gap +27.09pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -8.485146574646697, &#x27;dc_load_premium_pp&#x27;: 27.08665934464689, &#x27;erco_load_yoy_7d_pct&#x27;: 16.3176492686319, &#x27;pjm_load_yoy_7d_pct&#x27;: 31.002910691639492}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +29.89% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 89497.0, &#x27;nova_load_yoy_7d_pct&#x27;: 29.887771117491315, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.16178338968170225, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;value&#x27;: 65.320600350164}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:46:13+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.856</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;dc_load_anomaly_z&#x27;: -0.8564871052140255, &#x27;dc_load_growth_yoy&#x27;: 19.23047965170996}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.385741883966965, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;value&#x27;: 113.72413994368466}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.7364519201731756, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;value&#x27;: 92.35893012142886}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.7658133956267585, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;value&#x27;: 116.87145356080674}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.498395310554835, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;value&#x27;: 101.20455548855966}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.2157801988860526, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;value&#x27;: 130.39402474861558}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.3355957970741841, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;value&#x27;: 99.61264446739978}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.238.; Two-year own-history percentile: 36.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 36.14190687361419, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23753744152529024, &#x27;pair_count&#x27;: 17578, &#x27;symbol_count&#x27;: 188}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.8653310453866414, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;value&#x27;: 102.92581022528738}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.2682758901503379, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;value&#x27;: 100.23170147358907}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.2554201983857807, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;value&#x27;: 103.74848137249346}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.2651362749771522, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;value&#x27;: 92.58705736516451}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;vix_vix3m&#x27;: 0.8250993753549118}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 5.370307384656026, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;value&#x27;: 108.37808406923408}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-04 / 2026-09-04 09:20:40+00:00</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.66, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.35, &#x27;event_date&#x27;: &#x27;2026-08-04&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 22.963, &#x27;symbol&#x27;: &#x27;AMD&#x27;}</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-30 / 2026-08-23 11:29:20+00:00</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.88, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.83, &#x27;event_date&#x27;: &#x27;2026-07-30&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 2.7322, &#x27;symbol&#x27;: &#x27;AMZN&#x27;}</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-01 01:19:14+00:00</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 6.18, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 7.1, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: -12.9577, &#x27;symbol&#x27;: &#x27;META&#x27;}</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-06 13:28:11+00:00</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 4.74, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 4.21, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 12.5891, &#x27;symbol&#x27;: &#x27;MSFT&#x27;}</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-26 / 2026-09-05 11:11:50+00:00</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 2.22, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 2.09, &#x27;event_date&#x27;: &#x27;2026-08-26&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-07-31&#x27;, &#x27;surprise_pct&#x27;: 6.2201, &#x27;symbol&#x27;: &#x27;NVDA&#x27;}</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-06-10 / 2026-09-02 23:41:24+00:00</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.79, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.58, &#x27;event_date&#x27;: &#x27;2026-06-10&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-05-31&#x27;, &#x27;surprise_pct&#x27;: 13.2911, &#x27;symbol&#x27;: &#x27;ORCL&#x27;}</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:55:46+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,231B (conditional on an IPO), -2.00% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $11,410.; Probability-weighted bucket midpoint: $1,231B.; Seven-day implied-cap change: -2.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.077, &#x27;full_set_prob_sum&#x27;: 0.992, &#x27;implied_cap_change_7d_pct&#x27;: -1.995231612536108, &#x27;implied_cap_usd_b&#x27;: 1230.5194805194806, &#x27;ipo_by_2026_prob&#x27;: 0.07, &#x27;no_ipo_by_2026_prob&#x27;: 0.915, &#x27;volume_24h_total&#x27;: 11410.042747000001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-06</td><td class=\"num\">142,231</td><td class=\"num\">24</td><td class=\"num\">-1.49</td><td class=\"num\">4.807</td></tr>\n<tr><td>CISO</td><td>2026-09-06</td><td class=\"num\">644,226</td><td class=\"num\">24</td><td class=\"num\">-2.578</td><td class=\"num\">-6.107</td></tr>\n<tr><td>ERCO</td><td>2026-09-06</td><td class=\"num\">1,657,255</td><td class=\"num\">24</td><td class=\"num\">-1.499</td><td class=\"num\">25.8</td></tr>\n<tr><td>PJM</td><td>2026-09-06</td><td class=\"num\">2,343,735</td><td class=\"num\">24</td><td class=\"num\">-0.8565</td><td class=\"num\">19.23</td></tr>\n<tr><td>SOCO</td><td>2026-09-06</td><td class=\"num\">752,705</td><td class=\"num\">24</td><td class=\"num\">-0.6777</td><td class=\"num\">18.19</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.47</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">45.31</td><td class=\"num\">0</td><td class=\"num\">0.8437</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.14</td><td class=\"num\">0</td><td class=\"num\">-1.325</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">36.33</td><td class=\"num\">0</td><td class=\"num\">5.526</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">30.8</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.802</li>\n<li>as of: 2026-09-06</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-08 00:45:05</td><td>2026-09-08 00:45:05</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">5</td><td>2026-09-07 10:48:06</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-09 05:21:30</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-07 10:48:07</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:30</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>error</td><td class=\"num\">0</td><td>2026-09-08 05:48:59</td><td>2026-09-08 00:00:00</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-08 01:06:21</td><td>2026-09-06 04:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3193</td><td>2026-09-07 14:29:15</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">6110</td><td>2026-09-07 10:48:06</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">215</td><td>2026-09-08 04:31:20</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-07 10:48:07</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>error</td><td class=\"num\">0</td><td>2026-09-08 08:18:14</td><td>2026-09-09 06:00:00</td><td>RuntimeError: all required ISO fetches failed: CAISO: gridstatus CAISO DA fetch failed: HTTPConnectionPool(host=&#x27;oasis.caiso.com&#x27;, port=80): Max retries exceeded with url: /oasisapi/SingleZip?resultfo</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">430</td><td>2026-09-07 10:48:07</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">557</td><td>2026-09-07 10:48:07</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-07 10:48:06</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-07 10:48:06</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-07 10:48:06</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-08 05:19:39</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: eia930, iso_lmp</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-09T05:21:32Z",
      "id": "urn:prexel:issue:320fe8b1-a176-56f1-a239-f7b30ff67f41",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 17 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-08-daily-dfdac67f8d17.html"
    },
    {
      "_prexel": {
        "content_hash": "6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f",
        "context_hash": "83f2904aac41b106866b8a530780e86dc28248bda882afa3ef7ba25ec1318bf6",
        "kind": "daily",
        "period_end": "2026-09-07"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-22 05:57:30.836000 · correction <code>975d89b1e389eb2c6fac96c4deeccc46d3337f6e63be6aee1be15ed12cf35c52</code> · hash <code>046beaa42c32bc3708dff3107337e8297315f58d7aaceb80f53f94eef56dcbf7</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-21 01:56:32.522000 · correction <code>980f258961d9fd82f092502dd29cf2999c2a5e355e9d10d1b23ab1fc777874c3</code> · hash <code>68a48f263598325b97e9f2391445130c7ea932c0df8c145ea1e9e8865e8b4772</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45.522000 · correction <code>e1f07f9e54ea83e9b19cca013c02ca6453b33512d0c3c41f13168a91cb87b6e6</code> · hash <code>873dcd7af9411e0ad4a81b9d0f0c33406f601293487948ae7760805ceac58767</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-20 13:53:45.522000 · correction <code>28993eefb92ce4f043fe608b87aabfec18e12792e025d2f3686fe44c512f4849</code> · hash <code>1038228f881ee4a3df47e2186d11859c55da0b27995ff8e08f3402eac0c45d6d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05.085000 · correction <code>b0a3af63618a0099ca154a2b4deb8803b27d4f14dcd1c1dc0fe9f65582b906c1</code> · hash <code>b426b1320b2dd36abb4a099dde5586ed728c39d3ee77ef4c1efa2a9a3a80b5f3</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05.085000 · correction <code>82bc75e4f0b24f11c251edd450c1a12a6cceec364d989022f3d1cd3be328f999</code> · hash <code>e5c726807fb993d0080997edba5a84d7cc5ad0c56db861fe3657889ceb43b732</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6318997d267769fe7d870f2de44a581aa24e0a433bba46dff424cfd4e7c5c80f</code> · effective 2026-09-18 04:22:05.085000 · correction <code>1008796523253fa164a1c9850822ee393ec09170b7c3919d0362e9f945008fca</code> · hash <code>97d8c1c207905bba4f866dea4342a9997fe787aa2b24862ee612cccda8902604</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 16 (daily)</h1>\n<p>Period: 2026-09-07 → 2026-09-07</p>\n<p>Context hash: <code>83f2904aac41b106866b8a530780e86dc28248bda882afa3ef7ba25ec1318bf6</code></p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>This period includes the first published baseline; earlier changes are unknown.</p>\n<ul>\n<li>Semiconductors vs S&amp;P 500: ▼ Bearish — semiconductor equity leadership relative to the broad US market (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>CLO BBB vs AAA tranches: ◆ Mixed — marginal risk appetite in the AI buildout&#x27;s securitized-debt channel (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>AI-complex correlation regime: ◆ Mixed — single-narrative fragility of the US-listed AI-buildout complex (Medium term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>High-yield vs investment-grade credit: ◆ Mixed — public-credit risk appetite relevant to AI-buildout financing (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Equal-weight vs cap-weight S&amp;P: ◆ Mixed — US equity breadth relative to capitalization-weighted equities (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Nasdaq 100 vs S&amp;P 500: ◆ Mixed — mega-cap concentration in US equities (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Utilities vs S&amp;P 500: ◆ Mixed — utilities repricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>VIX term structure: ▲ Bullish — near-term public-market risk appetite (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>AI event odds: ⊘ No read — market-implied probability of registered AI-buildout events (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>AMD earnings surprise: ▲ Bullish — AMD quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Amazon earnings surprise: ▲ Bullish — AMZN quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Broadcom earnings surprise: ⊘ No read — AVGO quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Alphabet earnings surprise: ⊘ No read — GOOGL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Meta earnings surprise: ▼ Bearish — META quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Microsoft earnings surprise: ▲ Bullish — MSFT quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>NVIDIA earnings surprise: ▲ Bullish — NVDA quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Oracle earnings surprise: ▲ Bullish — ORCL quarterly EPS execution versus consensus (Reported quarter); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Implied OpenAI valuation: ◆ Mixed — market-implied OpenAI IPO valuation (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Colo asking rents — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Colo capacity delivered — N. Virginia: ▲ Bullish — delivered wholesale colocation capacity in Northern Virginia (Quarterly); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Data-centre landlords vs S&amp;P 500: ▼ Bearish — listed data-centre landlord pricing relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Colo vacancy — N. Virginia: ▲ Bullish — landlord pricing power in Northern Virginia colocation (Quarterly); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Hyperscalers vs S&amp;P 500: ◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Neoclouds vs S&amp;P 500: ◆ Mixed — public-market pricing of the neocloud cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>AI power names vs S&amp;P 500: ▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>B200 vs H100 rental price: ▼ Bearish — frontier-vs-installed-base GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>GPU rental availability: ◆ Mixed — GPU rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>GPU marketplace depth: ▲ Bullish — GPU rental lessor pricing power (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>GPU resale values: ⊘ No read — GPU asset residual values (Medium term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>GPU spot vs contract pricing: ⊘ No read — near-term GPU rental pricing (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>H100 spot rental price: ⊘ No read — H100 rental-provider pricing power (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Inference demand — OpenRouter: ▲ Bullish — OpenRouter public-app inference activity (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Inference demand concentration: ▼ Bearish — durability of routed inference demand (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Inference price cuts (like-for-like): ⊘ No read — like-for-like inference pricing for compute sellers (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Effective inference price: ⊘ No read — inference unit economics for compute sellers (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Model launch cadence: ▲ Bullish — frontier-model supply cadence (Medium term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Open-weights token share: ⊘ No read — substitution pressure on closed-model pricing power (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>US AI policy events: ⊘ No read — US policy impact on AI-buildout beneficiaries and constraints (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>CAISO day-ahead power prices: ▲ Bullish — California day-ahead power prices relevant to data-centre siting (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>CAISO implied heat rate: ▲ Bullish — scarcity of dispatchable power net of fuel in CAISO (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Data-centre load premium: ▲ Bullish — excess PJM load growth attributable to data-centre buildout (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Dominion (N. Virginia) electricity demand: ▲ Bullish — Dominion-zone electricity demand as the ground-truth NoVA data-centre load read (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>N. Virginia power basis: ⊘ No read — Northern Virginia data-centre power economics (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Nuclear fuel cycle vs S&amp;P 500: ◆ Mixed — public-market pricing of the long-duration nuclear power cohort relative to the broad market (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>PJM electricity demand: ◆ Mixed — PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>PJM day-ahead vs real-time prices: ⊘ No read — near-term PJM electricity demand (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Data-centre power capacity delivery: ⊘ No read — AI data-centre capacity delivery (Structural); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>BDCs vs investment-grade credit: ▲ Bullish — listed BDC pricing relative to investment-grade credit (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Private AI secondary pricing: ⊘ No read — private AI-company secondary-market pricing (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>TSMC monthly revenue: ▲ Bullish — leading foundry demand represented by TSMC monthly revenue (Near term); Source correction; Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n<li>Korean chip exports: ⊘ No read — Korean semiconductor export demand (Near term); Interpretation rule changed. Published 2026-09-07T14:29:17.436852+00:00.</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 51 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 18 bullish, 6 bearish, 12 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.2785487708168133; b200_h100_ratio_change_14d_pct=-0.18256610333412082; b200_offered_usd_hr=6.385; band_measured_pct=-18.256610333412084; band_pct=5.0; h100_spot_usd_hr=2.8022222222222206</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;b200_h100_ratio&#x27;: 2.2785487708168133, &#x27;b200_h100_ratio_change_14d_pct&#x27;: -0.18256610333412082, &#x27;b200_offered_usd_hr&#x27;: 6.385, &#x27;band_measured_pct&#x27;: -18.256610333412084, &#x27;band_pct&#x27;: 5.0, &#x27;h100_spot_usd_hr&#x27;: 2.8022222222222206}</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;availability_state&#x27;: &#x27;available&#x27;, &#x27;capacity_booked_through&#x27;: None}</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:52:56+00:00</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.013333333333333334; h100_depth_smoothed_3d=55.5; h100_dispersion_smoothed_3d=2.1835992336273193; h100_price_change_14d_pct=0.18933630473639876</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;h100_depth_change_14d_pct&#x27;: -0.013333333333333334, &#x27;h100_depth_smoothed_3d&#x27;: 55.5, &#x27;h100_dispersion_smoothed_3d&#x27;: 2.1835992336273193, &#x27;h100_price_change_14d_pct&#x27;: 0.18933630473639876}</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Up 8.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 8.86%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;token_change_7d_pct&#x27;: 8.857031222642409, &#x27;top_n&#x27;: 100, &#x27;total_requests&#x27;: 2190654074, &#x27;total_tokens&#x27;: 144877555897528}</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 10:48:14+00:00</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.51pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.4%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;top10_app_token_share&#x27;: 79.42817630231052, &#x27;top10_share_change_14d_pp&#x27;: 2.505099718109335}</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The fixed-basket price is $0.737/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: The token-weighted effective price is $0.754/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-08-01 / 2026-09-06 12:53:38+00:00</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; source records not yet linked; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_rel_pct&#x27;: 25.0, &#x27;baseline_12mo_rate&#x27;: 18.333333333333332, &#x27;listing_rate_change_pct&#x27;: 83.63636363636364, &#x27;newest_complete_month&#x27;: &#x27;2026-08-01&#x27;, &#x27;trailing_3mo_listings&#x27;: 101, &#x27;trailing_3mo_rate&#x27;: 33.666666666666664}</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Open-weights models carry 52.5% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-08-16 16:00:00+00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: source publication time unverified</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;mom_pct&#x27;: 5.624961765550318, &#x27;source_period&#x27;: &#x27;2026-07-01&#x27;, &#x27;value&#x27;: 467580548000.0, &#x27;yoy_pct&#x27;: 44.68755126916978}</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.82/MWh vs prior 14-day $50.78/MWh (-19.6%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_da_7d_avg_usd_mwh&#x27;: 40.81820404761904, &#x27;caiso_da_prior_14d_avg_usd_mwh&#x27;: 50.77980836915536, &#x27;caiso_da_trend_pct&#x27;: -19.617254655862766}</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.08 MMBtu/MWh vs prior 14-day 17.92 (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 15.0, &#x27;caiso_heat_rate_7d_avg&#x27;: 14.07524277504105, &#x27;caiso_heat_rate_prior_14d_avg&#x27;: 17.92102081473945, &#x27;caiso_heat_rate_trend_pct&#x27;: -21.45959250566449, &#x27;gas_print_max_lag_days&#x27;: 5}</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +31.00% vs control mean +3.92% (gap +27.09pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pp&#x27;: 1.5, &#x27;ciso_load_yoy_7d_pct&#x27;: -8.485146574646697, &#x27;dc_load_premium_pp&#x27;: 27.08665934464689, &#x27;erco_load_yoy_7d_pct&#x27;: 16.3176492686319, &#x27;pjm_load_yoy_7d_pct&#x27;: 31.002910691639492}</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:58:43+00:00</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +29.89% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: source records not yet linked; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 3.0, &#x27;nova_load_demand_mwh&#x27;: 89497.0, &#x27;nova_load_yoy_7d_pct&#x27;: 29.887771117491315, &#x27;nova_load_yoy_window_obs&#x27;: 6}</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -0.16178338968170225, &#x27;components&#x27;: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NUCLEAR_SPX&#x27;, &#x27;value&#x27;: 65.320600350164}</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-07 12:46:13+00:00</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=-0.856</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: source records not yet linked; weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;dc_load_anomaly_z&#x27;: -0.8564871052140255, &#x27;dc_load_growth_yoy&#x27;: 19.23047965170996}</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;asking_rent_midpoint_usd_kw_month&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;usd_per_kw_month&#x27;, &#x27;value&#x27;: 212.5}</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;increased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;inventory_added_yoy_mw&#x27;, &#x27;prior_value&#x27;: None, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;mw&#x27;, &#x27;value&#x27;: 1135.9}</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -4.385741883966965, &#x27;components&#x27;: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_COLO_SPX&#x27;, &#x27;value&#x27;: 113.72413994368466}</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>legacy data date / knowledge date: 2026-03-31 / 2026-06-17 00:00:00+00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;direction&#x27;: &#x27;decreased&#x27;, &#x27;market&#x27;: &#x27;Northern Virginia&#x27;, &#x27;metric&#x27;: &#x27;vacancy_pct&#x27;, &#x27;prior_value&#x27;: 0.8, &#x27;source_url&#x27;: &#x27;https://www.cbre.com/insights/reports/global-data-center-trends-2026&#x27;, &#x27;unit&#x27;: &#x27;pct&#x27;, &#x27;value&#x27;: 0.3}</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 0.7364519201731756, &#x27;components&#x27;: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_HYPERSCALER_SPX&#x27;, &#x27;value&#x27;: 92.35893012142886}</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: 1.7658133956267585, &#x27;components&#x27;: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_NEOCLOUD_SPX&#x27;, &#x27;value&#x27;: 116.87145356080674}</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.498395310554835, &#x27;components&#x27;: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_POWER_SPX&#x27;, &#x27;value&#x27;: 101.20455548855966}</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 2.0, &#x27;change_30d_pct&#x27;: -2.2157801988860526, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_SOX_SPX&#x27;, &#x27;value&#x27;: 130.39402474861558}</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.3355957970741841, &#x27;components&#x27;: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_JBBB_JAAA&#x27;, &#x27;value&#x27;: 99.61264446739978}</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.238.; Two-year own-history percentile: 36.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;corr_percentile_2y&#x27;: 36.14190687361419, &#x27;high_percentile_threshold&#x27;: 80.0, &#x27;low_percentile_threshold&#x27;: 20.0, &#x27;median_pairwise_corr_63d&#x27;: 0.23753744152529024, &#x27;pair_count&#x27;: 17578, &#x27;symbol_count&#x27;: 188}</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.8653310453866414, &#x27;components&#x27;: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_HYG_LQD&#x27;, &#x27;value&#x27;: 102.92581022528738}</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: -0.2682758901503379, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_RSP_SPX&#x27;, &#x27;value&#x27;: 100.23170147358907}</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.0, &#x27;change_30d_pct&#x27;: 0.2554201983857807, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;], &#x27;series&#x27;: &#x27;RATIO_NDX_SPX&#x27;, &#x27;value&#x27;: 103.74848137249346}</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: -1.2651362749771522, &#x27;components&#x27;: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;], &#x27;series&#x27;: &#x27;RATIO_XLU_SPX&#x27;, &#x27;value&#x27;: 92.58705736516451}</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;vix_vix3m&#x27;: 0.8250993753549118}</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-04 / 2026-09-07 10:48:06+00:00</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals; source records not yet linked</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 1.5, &#x27;change_30d_pct&#x27;: 5.370307384656026, &#x27;components&#x27;: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;], &#x27;series&#x27;: &#x27;BASKET_BDC_LQD&#x27;, &#x27;value&#x27;: 108.37808406923408}</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-04 / 2026-09-04 09:20:40+00:00</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.66, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.35, &#x27;event_date&#x27;: &#x27;2026-08-04&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 22.963, &#x27;symbol&#x27;: &#x27;AMD&#x27;}</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-30 / 2026-08-23 11:29:20+00:00</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.88, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.83, &#x27;event_date&#x27;: &#x27;2026-07-30&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 2.7322, &#x27;symbol&#x27;: &#x27;AMZN&#x27;}</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-01 01:19:14+00:00</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 6.18, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 7.1, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: -12.9577, &#x27;symbol&#x27;: &#x27;META&#x27;}</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-07-29 / 2026-09-06 13:28:11+00:00</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 4.74, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 4.21, &#x27;event_date&#x27;: &#x27;2026-07-29&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-06-30&#x27;, &#x27;surprise_pct&#x27;: 12.5891, &#x27;symbol&#x27;: &#x27;MSFT&#x27;}</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-08-26 / 2026-09-05 11:11:50+00:00</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 2.22, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 2.09, &#x27;event_date&#x27;: &#x27;2026-08-26&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-07-31&#x27;, &#x27;surprise_pct&#x27;: 6.2201, &#x27;symbol&#x27;: &#x27;NVDA&#x27;}</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-06-10 / 2026-09-02 23:41:24+00:00</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;actual_eps&#x27;: 1.79, &#x27;band_pct&#x27;: 1.0, &#x27;estimate_eps&#x27;: 1.58, &#x27;event_date&#x27;: &#x27;2026-06-10&#x27;, &#x27;fiscal_date_ending&#x27;: &#x27;2026-05-31&#x27;, &#x27;surprise_pct&#x27;: 13.2911, &#x27;symbol&#x27;: &#x27;ORCL&#x27;}</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ◆ Mixed</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-06 / 2026-09-06 22:55:46+00:00</li>\n<li>interpretation: The probability-weighted implied cap is $1,231B (conditional on an IPO), -2.00% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $11,410.; Probability-weighted bucket midpoint: $1,231B.; Seven-day implied-cap change: -2.00%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; source records not yet linked; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>unparsed: {&#x27;band_pct&#x27;: 5.0, &#x27;bucket_prob_sum&#x27;: 0.077, &#x27;full_set_prob_sum&#x27;: 0.992, &#x27;implied_cap_change_7d_pct&#x27;: -1.995231612536108, &#x27;implied_cap_usd_b&#x27;: 1230.5194805194806, &#x27;ipo_by_2026_prob&#x27;: 0.07, &#x27;no_ipo_by_2026_prob&#x27;: 0.915, &#x27;volume_24h_total&#x27;: 11410.042747000001}</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-06</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-06</td><td class=\"num\">142,231</td><td class=\"num\">24</td><td class=\"num\">-1.49</td><td class=\"num\">4.807</td></tr>\n<tr><td>CISO</td><td>2026-09-06</td><td class=\"num\">644,226</td><td class=\"num\">24</td><td class=\"num\">-2.578</td><td class=\"num\">-6.107</td></tr>\n<tr><td>ERCO</td><td>2026-09-06</td><td class=\"num\">1,657,255</td><td class=\"num\">24</td><td class=\"num\">-1.499</td><td class=\"num\">25.8</td></tr>\n<tr><td>PJM</td><td>2026-09-06</td><td class=\"num\">2,343,735</td><td class=\"num\">24</td><td class=\"num\">-0.8565</td><td class=\"num\">19.23</td></tr>\n<tr><td>SOCO</td><td>2026-09-06</td><td class=\"num\">752,705</td><td class=\"num\">24</td><td class=\"num\">-0.6777</td><td class=\"num\">18.19</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.47</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">45.31</td><td class=\"num\">0</td><td class=\"num\">0.8437</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.14</td><td class=\"num\">0</td><td class=\"num\">-1.325</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">36.33</td><td class=\"num\">0</td><td class=\"num\">5.526</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">30.8</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.802</li>\n<li>as of: 2026-09-06</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-08 00:45:05</td><td>2026-09-08 00:45:05</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">5</td><td>2026-09-07 10:48:06</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-06 22:20:05</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-07 10:48:07</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:39:00</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:30</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">318</td><td>2026-09-08 00:36:26</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-08 01:06:21</td><td>2026-09-06 04:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3193</td><td>2026-09-07 14:29:15</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">6110</td><td>2026-09-07 10:48:06</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">215</td><td>2026-09-08 04:31:20</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-07 10:48:07</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-09-08 00:34:48</td><td>2026-09-09 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788827692</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">430</td><td>2026-09-07 10:48:07</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">557</td><td>2026-09-07 10:48:07</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-07 10:48:06</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-07 10:48:06</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-07 10:48:06</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-07 21:05:07</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-08T05:19:39Z",
      "id": "urn:prexel:issue:e95b3ecb-cdaa-5748-a885-bcab0b9acb0d",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 16 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-07-daily-6318997d2677.html"
    },
    {
      "_prexel": {
        "content_hash": "c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3",
        "context_hash": "d39b90af0c5a4beeb9bf20624215b139d7da3f785bb531cff87b9f756712f090",
        "kind": "daily",
        "period_end": "2026-09-06"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-22 05:57:30.836000 · correction <code>4225fe9fe1bddd2f343f73bf85c435b466a8b69e8c12903ed60fc65f8ce80e82</code> · hash <code>511ab7d0b03b03489786564d531ed62d64b41c7401026d69c8ae85f97a46f24d</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-21 01:56:32.522000 · correction <code>2c27d62593e9e1d6bb945f2ec1ba0d414ad3cd3dfe079a91c307f47cdacbf83a</code> · hash <code>d3e4f789c29b25b8076534f4d546b3bbb5883abf86bc32f117db7dbd8b69d3fa</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45.522000 · correction <code>13bd7f31d84190055551f774916193623ca78014ffcf00914634a607190aee7c</code> · hash <code>92fd505098935d84ce5443a8b2133c1fc85a63e22345416a1f441d5293e71565</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-20 13:53:45.522000 · correction <code>0bc2148b83115195d49bbd05fd8381de84a5f4549fe3b16c8a281d9ee8a8a350</code> · hash <code>28915be3a8990b602d25fbba9d3710eae2f533f6dea89f0440c61692591f6f83</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05.085000 · correction <code>e18d7c22580a415b96fe9b2b327ef07a714cb439f701d8de2bbccd8707c93dea</code> · hash <code>f99a28eda8a44f56bda1605b27a4ea5797a8bb0c40cef47656e1162c28cf281e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05.085000 · correction <code>d820e8370b0a02dd7e8518a3cc699e37ba7f6b10d5a7ad5189696798b169cad1</code> · hash <code>fc6c77003a42a623928bb2164676b35ccf29d1750fdf6c29282cd4eceac46fd2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c3ee635cfe9741b50d3ea8ec923a62b5a944d4602ee4df3f7fde550d9b1d82d3</code> · effective 2026-09-18 04:22:05.085000 · correction <code>78fe7d7220f6cdcc0024b6ffd3c00ae56f67294214048fef8a5aeff3181f50e4</code> · hash <code>bcb7aa981296cd2190cc36bccf9dbc7b7ffe460e1e626f3e9eea9e7f60c69acd</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 15 (daily)</h1>\n<p>Period: 2026-09-06 → 2026-09-06</p>\n<p>Context hash: <code>d39b90af0c5a4beeb9bf20624215b139d7da3f785bb531cff87b9f756712f090</code></p>\n<h2>Published Changes in This Issue Period</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Evidence and call changes</h3>\n<p>No publication was recorded in this period; no change comparison is claimed.</p>\n<h3>Outside registered bands</h3>\n<p>Each family is shown against its own registered band — two real numbers, never a multiple. Not a ranking of importance.</p>\n<ul>\n<li>Neoclouds vs S&amp;P 500: -7.6% over 30 days vs its ±2% band</li>\n<li>Semiconductors vs S&amp;P 500: -6.9% over 30 days vs its ±2% band</li>\n<li>AI power names vs S&amp;P 500: -6.1% over 30 days vs its ±2% band</li>\n<li>Data-centre landlords vs S&amp;P 500: -4.3% over 30 days vs its ±2% band</li>\n<li>BDCs vs investment-grade credit: +3.2% over 30 days vs its ±1.5% band</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>Recorded changed reads:</strong> 0 chart-local read(s); comparison coverage is stated in the published briefing above.</li>\n<li><strong>Current evidence coverage:</strong> 27 usable / 23 no read — 11 bullish, 7 bearish, 9 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th><th scope=\"col\">availability</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td><td>Retrospective</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-05 21:47:34</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>against its band: measured -10.6% vs its ±5% band</li>\n<li>evidence: b200_h100_ratio=2.411602209944754; b200_h100_ratio_change_14d_pct=-0.10586276034814354; b200_offered_usd_hr=6.79; band_measured_pct=-10.586276034814354; band_pct=5.0; h100_spot_usd_hr=2.8155555555555525</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>b200_h100_ratio: 2.412</li>\n<li>b200_h100_ratio_change_14d_pct: -0.1059</li>\n<li>b200_offered_usd_hr: 6.79</li>\n<li>band_measured_pct: -10.59</li>\n<li>band_pct: 5</li>\n<li>h100_spot_usd_hr: 2.816</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-05 21:47:34</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-05 21:47:34</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.006134946065679119; h100_depth_smoothed_3d=54.0; h100_dispersion_smoothed_3d=1.9460870027542114; h100_price_change_14d_pct=0.18933629757466436</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel</li>\n<li>metrics:</li>\n<ul>\n<li>h100_depth_change_14d_pct: -0.006135</li>\n<li>h100_depth_smoothed_3d: 54</li>\n<li>h100_dispersion_smoothed_3d: 1.946</li>\n<li>h100_price_change_14d_pct: 0.1893</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-06 08:48:37</li>\n<li>interpretation: Up 9.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 9.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>token_change_7d_pct: 9.948</li>\n<li>top_n: 100</li>\n<li>total_requests: 2185068905</li>\n<li>total_tokens: 144293060669447</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-06 08:55:03</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.31pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.3%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>top10_app_token_share: 79.31</li>\n<li>top10_share_change_14d_pp: 2.311</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: The fixed-basket price is $0.723/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: The token-weighted effective price is $0.742/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Open-weights models carry 54.0% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>legacy source period / data date / knowledge date: 2026-07-01 / 2026-09-05 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-06 11:18:44</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.45/MWh vs prior 14-day $51.52/MWh (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_da_7d_avg_usd_mwh: 40.45</li>\n<li>caiso_da_prior_14d_avg_usd_mwh: 51.52</li>\n<li>caiso_da_trend_pct: -21.49</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-06 11:18:44</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.01 MMBtu/MWh vs prior 14-day 18.18 (-22.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_heat_rate_7d_avg: 14.01</li>\n<li>caiso_heat_rate_prior_14d_avg: 18.18</li>\n<li>caiso_heat_rate_trend_pct: -22.94</li>\n<li>gas_print_max_lag_days: 4</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-06 11:18:44</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +32.23% vs control mean +4.32% (gap +27.91pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>ciso_load_yoy_7d_pct: -7.043</li>\n<li>dc_load_premium_pp: 27.91</li>\n<li>erco_load_yoy_7d_pct: 15.68</li>\n<li>pjm_load_yoy_7d_pct: 32.23</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-06 11:18:44</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +34.19% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 3</li>\n<li>nova_load_demand_mwh: 96,785</li>\n<li>nova_load_yoy_7d_pct: 34.19</li>\n<li>nova_load_yoy_window_obs: 6</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 1.2% over the last 30 days.</li>\n<li>against its band: measured -1.2% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -1.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -1.217</li>\n<li>components: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;]</li>\n<li>series: BASKET_NUCLEAR_SPX</li>\n<li>value: 64.74</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-06 10:58:53</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=0.521</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: weekday baseline; weather effects not isolated</li>\n<li>metrics:</li>\n<ul>\n<li>dc_load_anomaly_z: 0.521</li>\n<li>dc_load_growth_yoy: 18.54</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ⊘ No read</h3>\n<ul>\n<li>subject: landlord pricing power in primary colocation markets</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-18</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: direct colo report unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ⊘ No read</h3>\n<ul>\n<li>subject: deliverable colocation capacity</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-18</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: direct colo report unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 4.3% over the last 30 days.</li>\n<li>against its band: measured -4.3% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -4.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -4.324</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 112.73</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ⊘ No read</h3>\n<ul>\n<li>subject: landlord pricing power in primary colocation markets</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-18</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: direct colo report unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 1.1% over the last 30 days.</li>\n<li>against its band: measured -1.1% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -1.13%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -1.13</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 91.99</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 7.6% over the last 30 days.</li>\n<li>against its band: measured -7.6% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -7.60%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -7.6</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 109.61</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 6.1% over the last 30 days.</li>\n<li>against its band: measured -6.1% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -6.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.055</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 98.33</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 6.9% over the last 30 days.</li>\n<li>against its band: measured -6.9% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -6.93%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.926</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 125.66</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>against its band: measured +0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.31%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.3106</li>\n<li>components: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;]</li>\n<li>series: RATIO_JBBB_JAAA</li>\n<li>value: 99.64</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.269.; Two-year own-history percentile: 66.7.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>corr_percentile_2y: 66.67</li>\n<li>high_percentile_threshold: 80</li>\n<li>low_percentile_threshold: 20</li>\n<li>median_pairwise_corr_63d: 0.2686</li>\n<li>pair_count: 17391</li>\n<li>symbol_count: 187</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>against its band: measured +0.9% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.89%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.8908</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.97</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>against its band: measured -0.2% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: -0.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.2261</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 100.33</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 1.0% over the last 30 days.</li>\n<li>against its band: measured -1.0% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: -0.99%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.9869</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;]</li>\n<li>series: RATIO_NDX_SPX</li>\n<li>value: 103.14</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 2.6% over the last 30 days.</li>\n<li>against its band: measured -2.6% over 30 days vs its ±1.5% band</li>\n<li>evidence: 30-day relative-price change: -2.59%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: -2.589</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;]</li>\n<li>series: RATIO_XLU_SPX</li>\n<li>value: 92.13</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.822.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.822</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Up 3.2% over the last 30 days.</li>\n<li>against its band: measured +3.2% over 30 days vs its ±1.5% band</li>\n<li>evidence: 30-day relative-price change: 3.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 3.229</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.17</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-08-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Amazon earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-08-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-08-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Microsoft earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-08-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>legacy data date / knowledge date: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA beat consensus EPS by 5.7% reported on 20 May.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-08-18</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: no reported EPS surprise yet</li>\n<li>data quality: company-specific event; free-tier source</li>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>legacy data date / knowledge date: 2026-09-05 / 2026-09-05 23:29:27</li>\n<li>interpretation: The probability-weighted implied cap is $1,308B (conditional on an IPO), +6.53% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $1,647.; Probability-weighted bucket midpoint: $1,308B.; Seven-day implied-cap change: +6.53%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 5</li>\n<li>bucket_prob_sum: 0.075</li>\n<li>full_set_prob_sum: 0.995</li>\n<li>implied_cap_change_7d_pct: 6.531</li>\n<li>implied_cap_usd_b: 1,308.33</li>\n<li>ipo_by_2026_prob: 0.085</li>\n<li>no_ipo_by_2026_prob: 0.92</li>\n<li>volume_24h_total: 1,647.46</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-06</td><td class=\"num\">142,231</td><td class=\"num\">24</td><td class=\"num\">-1.49</td><td class=\"num\">4.807</td></tr>\n<tr><td>CISO</td><td>2026-09-06</td><td class=\"num\">644,226</td><td class=\"num\">24</td><td class=\"num\">-2.578</td><td class=\"num\">-6.107</td></tr>\n<tr><td>ERCO</td><td>2026-09-06</td><td class=\"num\">1,657,255</td><td class=\"num\">24</td><td class=\"num\">-1.499</td><td class=\"num\">25.8</td></tr>\n<tr><td>PJM</td><td>2026-09-06</td><td class=\"num\">2,343,735</td><td class=\"num\">24</td><td class=\"num\">-0.8565</td><td class=\"num\">19.23</td></tr>\n<tr><td>SOCO</td><td>2026-09-06</td><td class=\"num\">752,705</td><td class=\"num\">24</td><td class=\"num\">-0.6777</td><td class=\"num\">18.19</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.47</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">45.31</td><td class=\"num\">0</td><td class=\"num\">0.8437</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.14</td><td class=\"num\">0</td><td class=\"num\">-1.325</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">36.33</td><td class=\"num\">0</td><td class=\"num\">5.526</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">30.8</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.802</li>\n<li>as of: 2026-09-06</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-07 17:12:43</td><td>2026-09-07 17:12:43</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">5</td><td>2026-09-07 10:48:06</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-06 22:20:05</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-07 10:48:07</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-06 22:30:02</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-09-07 10:48:07</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:30</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">308</td><td>2026-09-07 20:41:41</td><td>2026-09-07 20:00:00</td><td>—</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-07 20:07:29</td><td>2026-09-06 04:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3193</td><td>2026-09-07 14:29:15</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">6110</td><td>2026-09-07 10:48:06</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">191</td><td>2026-09-07 16:55:01</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-07 10:48:07</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-09-07 20:42:05</td><td>2026-09-08 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788813729</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">430</td><td>2026-09-07 10:48:07</td><td>2026-09-07 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">557</td><td>2026-09-07 10:48:07</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-07 10:48:06</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-07 10:48:06</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-07 10:48:06</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-06 22:10:11</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-07 10:48:06</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-07T21:05:07Z",
      "id": "urn:prexel:issue:1aaa94b9-9dad-5534-80f5-7b3878ca9060",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 15 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-06-daily-c3ee635cfe97.html"
    },
    {
      "_prexel": {
        "content_hash": "7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a",
        "context_hash": "a61e43199649499ab0e4ab084b30461800f9288ea54557b7654c40e4e5605f8c",
        "kind": "daily",
        "period_end": "2026-09-05"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-22 05:57:30.836000 · correction <code>1b1ed1752b6d48af17d0865ec4f2e47830d04ccb4d00e11eb90c27eda5b85cda</code> · hash <code>4a6911d0d3baab828cd93521839f471d475b65e6f333fb7033f4cac7d7531c93</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-21 01:56:32.522000 · correction <code>87e8e9cc31b2de38e5d545c2ab45119a0831242181a89f566a1f332c74c2b805</code> · hash <code>3de4688ba9c455826f820f8a95545e274cccb40695cc60d81f47f3fa549aec0e</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45.522000 · correction <code>54b984748f9e654b717e55aaf4908ccb920d6d34a0e27249653ee74a0a90c7a8</code> · hash <code>a2b7451cda02ea4dbfd12d9a16f6980fd46080a36f5fa593e692c5c5d33be8ec</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-20 13:53:45.522000 · correction <code>45be2535f882e47142132a55915f338b283f8f9813099f485dd53e54593ba134</code> · hash <code>1a0d11dae4487e78f53bdeb91bc491825f35d9631bc46c84c0543ec09d4d8900</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05.085000 · correction <code>c3a18ed935a1e78e7faa8a399701a914dd68416dba36d148486b6033f7da2307</code> · hash <code>4ab5ab226660fde09180896ce964ab6bed0e8dae0cdd64ce4c6a22843499f18f</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05.085000 · correction <code>b3c68ee93a669cee3a34b297e505a9970916803877a3e4d557a21651cfe738b1</code> · hash <code>4d8033eeeb3c6688bb607bcf784977fb57b45370f10e62879d88ef9f95aec495</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>7a080da541d132d9a8088b83dad9736aa297a59554d8a41014aba5b7e4275e1a</code> · effective 2026-09-18 04:22:05.085000 · correction <code>0887120d454f723384f1db2fa4e525d783a411a4e08b3ea1046e63fd789abc8c</code> · hash <code>7b577c08dc993638ac270261e6810044b41f6d4bf79e2a5d2996b1d79118471e</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 14 (daily)</h1>\n<p>Period: 2026-09-05 → 2026-09-05</p>\n<p>Context hash: <code>a61e43199649499ab0e4ab084b30461800f9288ea54557b7654c40e4e5605f8c</code></p>\n<h2>Since the Last Issue</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Calls that changed</h3>\n<ul>\n<li>GPU marketplace depth: ◆ Mixed → ▲ Bullish, 5 Sep</li>\n<li>PJM electricity demand: ▲ Bullish → ◆ Mixed, 5 Sep</li>\n<li>NVIDIA earnings surprise: first read — ⊘ No read → ▲ Bullish, 26 Aug</li>\n</ul>\n<h3>Stretched vs registered bands</h3>\n<p>Each family is shown against its own registered band — two real numbers, never a multiple. Not a ranking of importance.</p>\n<ul>\n<li>NVIDIA earnings surprise: +6.2% EPS surprise vs its ±1% band</li>\n<li>BDCs vs investment-grade credit: +5.4% over 30 days vs its ±1.5% band</li>\n<li>Data-centre landlords vs S&amp;P 500: -4.4% over 30 days vs its ±2% band</li>\n<li>B200 vs H100 rental price: -10.6% vs its ±5% band</li>\n<li>AI power names vs S&amp;P 500: -2.5% over 30 days vs its ±2% band</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>New or reassessed this period:</strong> 29 chart-local call(s); the section below contains the decision-relevant subset.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 19 bullish, 6 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>What Changed</h2>\n<p>New or reassessed calls are selected from evidence dated or published inside this report period. They remain chart-local; opposing calls can appear together and no portfolio verdict is implied.</p>\n<ul>\n<li><strong>▼ Bearish — frontier-vs-installed-base GPU rental pricing</strong> (B200 vs H100 rental price, Near term): The B200/H100 rent ratio is compressing — the frontier premium is eroding. Measured -10.6% vs its ±5% band. Wrong if: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li><strong>▼ Bearish — durability of routed inference demand</strong> (Inference demand concentration, Near term): Routed inference demand is concentrating into its largest apps — the demand base is thinning. Wrong if: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 6.2% for the quarter ending Aug 2026. Measured +6.2% EPS surprise vs its ±1% band. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — market-implied OpenAI IPO valuation</strong> (Implied OpenAI valuation, Near term): The probability-weighted implied cap is $1,308B (conditional on an IPO), +6.53% over seven days. Wrong if: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li><strong>▲ Bullish — GPU rental lessor pricing power</strong> (GPU marketplace depth, Near term): Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming. Wrong if: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 9.9% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n</ul>\n<p>23 additional new or reassessed call(s) are in the evidence appendix.</p>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-05 21:47:34</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>against its band: measured -10.6% vs its ±5% band</li>\n<li>evidence: b200_h100_ratio=2.411602209944754; b200_h100_ratio_change_14d_pct=-0.10586276034814354; b200_offered_usd_hr=6.79; band_measured_pct=-10.586276034814354; band_pct=5.0; h100_spot_usd_hr=2.8155555555555525</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>b200_h100_ratio: 2.412</li>\n<li>b200_h100_ratio_change_14d_pct: -0.1059</li>\n<li>b200_offered_usd_hr: 6.79</li>\n<li>band_measured_pct: -10.59</li>\n<li>band_pct: 5</li>\n<li>h100_spot_usd_hr: 2.816</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-05 21:47:34</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ▲ Bullish</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-05 21:47:34</li>\n<li>interpretation: Listed H100 supply is thinning while offered prices rise — lessor pricing power is firming.</li>\n<li>evidence: h100_depth_change_14d_pct=-0.006134946065679119; h100_depth_smoothed_3d=54.0; h100_dispersion_smoothed_3d=1.9460870027542114; h100_price_change_14d_pct=0.18933629757466436</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel</li>\n<li>metrics:</li>\n<ul>\n<li>h100_depth_change_14d_pct: -0.006135</li>\n<li>h100_depth_smoothed_3d: 54</li>\n<li>h100_dispersion_smoothed_3d: 1.946</li>\n<li>h100_price_change_14d_pct: 0.1893</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-06 08:48:37</li>\n<li>interpretation: Up 9.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 9.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>token_change_7d_pct: 9.948</li>\n<li>top_n: 100</li>\n<li>total_requests: 2185068905</li>\n<li>total_tokens: 144293060669447</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-06 08:55:03</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.31pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.3%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>top10_app_token_share: 79.31</li>\n<li>top10_share_change_14d_pp: 2.311</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: The fixed-basket price is $0.723/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: The token-weighted effective price is $0.742/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>data through / published: 2026-08-01 / 2026-09-05 11:11:50</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>band_rel_pct: 25</li>\n<li>baseline_12mo_rate: 18.33</li>\n<li>listing_rate_change_pct: 83.64</li>\n<li>newest_complete_month: 2026-08-01</li>\n<li>trailing_3mo_listings: 101</li>\n<li>trailing_3mo_rate: 33.67</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Open-weights models carry 54.0% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>source period / assessed through / published: 2026-07-01 / 2026-09-05 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-06 11:18:44</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $40.45/MWh vs prior 14-day $51.52/MWh (-21.5%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_da_7d_avg_usd_mwh: 40.45</li>\n<li>caiso_da_prior_14d_avg_usd_mwh: 51.52</li>\n<li>caiso_da_trend_pct: -21.49</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-06 11:18:44</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.01 MMBtu/MWh vs prior 14-day 18.18 (-22.9%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_heat_rate_7d_avg: 14.01</li>\n<li>caiso_heat_rate_prior_14d_avg: 18.18</li>\n<li>caiso_heat_rate_trend_pct: -22.94</li>\n<li>gas_print_max_lag_days: 4</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-06 11:18:44</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +32.23% vs control mean +4.32% (gap +27.91pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>ciso_load_yoy_7d_pct: -7.043</li>\n<li>dc_load_premium_pp: 27.91</li>\n<li>erco_load_yoy_7d_pct: 15.68</li>\n<li>pjm_load_yoy_7d_pct: 32.23</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-06 11:18:44</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +34.19% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 3</li>\n<li>nova_load_demand_mwh: 96,785</li>\n<li>nova_load_yoy_7d_pct: 34.19</li>\n<li>nova_load_yoy_window_obs: 6</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>against its band: measured -0.2% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -0.1618</li>\n<li>components: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;]</li>\n<li>series: BASKET_NUCLEAR_SPX</li>\n<li>value: 65.32</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ◆ Mixed</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-06 10:58:53</li>\n<li>interpretation: PJM load remains within its normal weekday range.</li>\n<li>evidence: PJM load anomaly z=0.521</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: weather naive weekday baseline</li>\n<li>metrics:</li>\n<ul>\n<li>dc_load_anomaly_z: 0.521</li>\n<li>dc_load_growth_yoy: 18.54</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>against its band: measured -4.4% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -4.386</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 113.72</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>against its band: measured +0.7% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 0.7365</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 92.36</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>against its band: measured +1.8% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 1.766</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 116.87</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>against its band: measured -2.5% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.498</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 101.20</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>against its band: measured -2.2% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.216</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 130.39</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>against its band: measured +0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.3356</li>\n<li>components: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;]</li>\n<li>series: RATIO_JBBB_JAAA</li>\n<li>value: 99.61</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.238.; Two-year own-history percentile: 36.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>corr_percentile_2y: 36.14</li>\n<li>high_percentile_threshold: 80</li>\n<li>low_percentile_threshold: 20</li>\n<li>median_pairwise_corr_63d: 0.2375</li>\n<li>pair_count: 17578</li>\n<li>symbol_count: 188</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>against its band: measured +0.9% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.8653</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.93</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>against its band: measured -0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.2683</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 100.23</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>against its band: measured +0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.2554</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;]</li>\n<li>series: RATIO_NDX_SPX</li>\n<li>value: 103.75</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>against its band: measured -1.3% over 30 days vs its ±1.5% band</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: -1.265</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;]</li>\n<li>series: RATIO_XLU_SPX</li>\n<li>value: 92.59</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8251</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-06 10:24:07</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>against its band: measured +5.4% over 30 days vs its ±1.5% band</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 5.37</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.38</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-09-04 09:20:40</li>\n<li>interpretation: AMD beat consensus EPS by 23.0% for the quarter ending Aug 2026.</li>\n<li>against its band: measured +23.0% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7% for the quarter ending Jul 2026.</li>\n<li>against its band: measured +2.7% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-09-01 01:19:14</li>\n<li>interpretation: META missed consensus EPS by 13.0% for the quarter ending Jul 2026.</li>\n<li>against its band: measured -13.0% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-09-06 13:28:11</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6% for the quarter ending Jul 2026.</li>\n<li>against its band: measured +12.6% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-26 / 2026-09-05 11:11:50</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2% for the quarter ending Aug 2026.</li>\n<li>against its band: measured +6.2% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.22</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 2.09</li>\n<li>event_date: 2026-08-26</li>\n<li>surprise_pct: 6.22</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-09-02 23:41:24</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3% for the quarter ending Jun 2026.</li>\n<li>against its band: measured +13.3% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-05 / 2026-09-05 23:29:27</li>\n<li>interpretation: The probability-weighted implied cap is $1,308B (conditional on an IPO), +6.53% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $1,647.; Probability-weighted bucket midpoint: $1,308B.; Seven-day implied-cap change: +6.53%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 5</li>\n<li>bucket_prob_sum: 0.075</li>\n<li>full_set_prob_sum: 0.995</li>\n<li>implied_cap_change_7d_pct: 6.531</li>\n<li>implied_cap_usd_b: 1,308.33</li>\n<li>ipo_by_2026_prob: 0.085</li>\n<li>no_ipo_by_2026_prob: 0.92</li>\n<li>volume_24h_total: 1,647.46</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-05</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-05</td><td class=\"num\">142,412</td><td class=\"num\">24</td><td class=\"num\">-1.017</td><td class=\"num\">10.56</td></tr>\n<tr><td>CISO</td><td>2026-09-05</td><td class=\"num\">665,311</td><td class=\"num\">24</td><td class=\"num\">-2.387</td><td class=\"num\">-7.004</td></tr>\n<tr><td>ERCO</td><td>2026-09-05</td><td class=\"num\">1,681,656</td><td class=\"num\">24</td><td class=\"num\">-0.9951</td><td class=\"num\">15.54</td></tr>\n<tr><td>PJM</td><td>2026-09-05</td><td class=\"num\">2,632,103</td><td class=\"num\">24</td><td class=\"num\">0.521</td><td class=\"num\">18.54</td></tr>\n<tr><td>SOCO</td><td>2026-09-05</td><td class=\"num\">784,746</td><td class=\"num\">24</td><td class=\"num\">0.1575</td><td class=\"num\">15.12</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">41.4</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">37.61</td><td class=\"num\">0</td><td class=\"num\">-3.791</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">37.51</td><td class=\"num\">0</td><td class=\"num\">-3.887</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>DOM</td><td class=\"num\">52.52</td><td class=\"num\">0</td><td class=\"num\">10.53</td><td>—</td></tr>\n<tr><td>PJM</td><td>DA</td><td>WESTERN HUB</td><td class=\"num\">42</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.816</li>\n<li>as of: 2026-09-05</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-06 17:15:49</td><td>2026-09-06 17:15:49</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">5</td><td>2026-09-06 12:53:34</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-05 22:20:07</td><td>—</td><td>head unchanged since last anchor (seq=5)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-06 13:57:01</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">0</td><td>2026-09-05 22:30:01</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">69</td><td>2026-09-06 12:40:55</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-09-06 13:28:11</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-06 13:09:02</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-06 13:09:03</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">303</td><td>2026-09-06 21:22:12</td><td>2026-09-06 21:00:00</td><td>—</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-06 21:32:00</td><td>2026-09-05 04:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3176</td><td>2026-09-06 14:01:58</td><td>2026-09-05 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">6083</td><td>2026-09-06 10:24:07</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">243</td><td>2026-09-06 17:04:59</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-06 10:13:41</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-09-06 21:41:15</td><td>2026-09-07 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788730879</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-06 13:09:15</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">430</td><td>2026-09-06 12:53:38</td><td>2026-09-06 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">559</td><td>2026-09-06 08:55:03</td><td>2026-09-05 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-06 14:01:57</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-06 08:48:36</td><td>2026-09-05 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-06 11:30:58</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-05 22:10:06</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-06 13:47:23</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-06T22:10:11Z",
      "id": "urn:prexel:issue:2fa54078-5e38-5851-9c63-47255636b526",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 14 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-05-daily-7a080da541d1.html"
    },
    {
      "_prexel": {
        "content_hash": "6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd",
        "context_hash": "ab0b1d091228a9b7394ae5e966411a88d3c0fa9a66a6b9720a4ec4c53c25cee1",
        "kind": "daily",
        "period_end": "2026-09-04"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-22 05:57:30.836000 · correction <code>fedb46eb9537c3fd216255f6415ed8a40df4db59f204097d1180cbc8be71a98c</code> · hash <code>306cc3812f92a550c20505df954df7a6748b80d8cc155221bfecfe17d3ad7813</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-21 01:56:32.522000 · correction <code>a4e80ccb0de63af3a4363478e519343068985711576a88537bfd47437ca603b8</code> · hash <code>5794b0097fdcc831be72301fe25bc148e2e111dc98136eea3454b85fca18cec8</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45.522000 · correction <code>2951fec5c8b1a509d3f4832ff07a307e46e935d1a0705c89d5c3880d0b8e1040</code> · hash <code>702e6df8936159594f9cd31a2391306daa3a2d2cd87739a8db7035ea56ddd7b3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-20 13:53:45.522000 · correction <code>076a40eeae2a5414fcb8e2393411ab4f5c403f0032ee7fabbf00c6fb51242191</code> · hash <code>d981bd048088d4edb93f0d50dd16f3d68a39c622057989a2a018e7c3330fb7ef</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05.085000 · correction <code>f699e0252e5c7d77225d9eb8b9dba7986f41c3aa97458cd2bc9477ef7328d480</code> · hash <code>e997a1fd5c93e5a1f247e3c2f59c676dface9516a31254ccefbd700e7824b9be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05.085000 · correction <code>c83201e14f92a6b462f5911e3503a4d051818d5275e9c5425212935a912be177</code> · hash <code>cab3211a58262a1719b3828a4bca52df6326a3a6e1d32903b1f5ea243def7b42</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>6a4e3f5c4ac0578d2855ad364ca471c451c5a38716f518b1ac2341431504e0fd</code> · effective 2026-09-18 04:22:05.085000 · correction <code>5d4b4c09e05a61e1a5f195a9a7a5771f4e5db4948401b9ab032ff0d17e3f6ac6</code> · hash <code>d5e583bff4f6fa3dbf1c323eface5d376ff163aafbca24a4d8f91a9fc02f04d2</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 13 (daily)</h1>\n<p>Period: 2026-09-04 → 2026-09-04</p>\n<p>Context hash: <code>ab0b1d091228a9b7394ae5e966411a88d3c0fa9a66a6b9720a4ec4c53c25cee1</code></p>\n<h2>Since the Last Issue</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Calls that changed</h3>\n<ul>\n<li>CAISO day-ahead power prices: ◆ Mixed → ▲ Bullish, 4 Sep</li>\n<li>CAISO implied heat rate: ◆ Mixed → ▲ Bullish, 4 Sep</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish → ◆ Mixed, 4 Sep</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish → ◆ Mixed, 4 Sep</li>\n</ul>\n<h3>Stretched vs registered bands</h3>\n<p>Each family is shown against its own registered band — two real numbers, never a multiple. Not a ranking of importance.</p>\n<ul>\n<li>B200 vs H100 rental price: -32.8% vs its ±5% band</li>\n<li>NVIDIA earnings surprise: +6.2% EPS surprise vs its ±1% band</li>\n<li>BDCs vs investment-grade credit: +5.4% over 30 days vs its ±1.5% band</li>\n<li>Data-centre landlords vs S&amp;P 500: -4.4% over 30 days vs its ±2% band</li>\n<li>AI power names vs S&amp;P 500: -2.5% over 30 days vs its ±2% band</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>New or reassessed this period:</strong> 43 chart-local call(s); the section below contains the decision-relevant subset.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 19 bullish, 6 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>What Changed</h2>\n<p>New or reassessed calls are selected from evidence dated or published inside this report period. They remain chart-local; opposing calls can appear together and no portfolio verdict is implied.</p>\n<ul>\n<li><strong>▼ Bearish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Down 2.2% over the last 30 days. Measured -2.2% over 30 days vs its ±2% band. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 4.4% over the last 30 days. Measured -4.4% over 30 days vs its ±2% band. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 2.5% over the last 30 days. Measured -2.5% over 30 days vs its ±2% band. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — frontier-vs-installed-base GPU rental pricing</strong> (B200 vs H100 rental price, Near term): The B200/H100 rent ratio is compressing — the frontier premium is eroding. Measured -32.8% vs its ±5% band. Wrong if: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li><strong>▼ Bearish — durability of routed inference demand</strong> (Inference demand concentration, Near term): Routed inference demand is concentrating into its largest apps — the demand base is thinning. Wrong if: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.82× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n</ul>\n<p>37 additional new or reassessed call(s) are in the evidence appendix.</p>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-04 18:00:16</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>against its band: measured -32.8% vs its ±5% band</li>\n<li>evidence: b200_h100_ratio=2.0457530129984853; b200_h100_ratio_change_14d_pct=-0.3275995629945651; b200_offered_usd_hr=6.003906249999999; band_measured_pct=-32.75995629945651; band_pct=5.0; h100_spot_usd_hr=2.934814814814815</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>b200_h100_ratio: 2.046</li>\n<li>b200_h100_ratio_change_14d_pct: -0.3276</li>\n<li>b200_offered_usd_hr: 6.004</li>\n<li>band_measured_pct: -32.76</li>\n<li>band_pct: 5</li>\n<li>h100_spot_usd_hr: 2.935</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-04 18:00:16</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-04 18:00:16</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=0.5319148936170213; h100_depth_smoothed_3d=54.0; h100_dispersion_smoothed_3d=1.946086992681304; h100_price_change_14d_pct=0.04675249182973807</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel</li>\n<li>metrics:</li>\n<ul>\n<li>h100_depth_change_14d_pct: 0.5319</li>\n<li>h100_depth_smoothed_3d: 54</li>\n<li>h100_dispersion_smoothed_3d: 1.946</li>\n<li>h100_price_change_14d_pct: 0.04675</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:52</li>\n<li>interpretation: Up 10.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 10.88%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>token_change_7d_pct: 10.88</li>\n<li>top_n: 100</li>\n<li>total_requests: 2167546683</li>\n<li>total_tokens: 143494084706322</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:52</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.11pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.2%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>top10_app_token_share: 79.21</li>\n<li>top10_share_change_14d_pp: 2.109</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: The fixed-basket price is $0.692/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: The token-weighted effective price is $0.720/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>data through / published: 2026-08-01 / 2026-09-04 19:00:16</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>band_rel_pct: 25</li>\n<li>baseline_12mo_rate: 18.33</li>\n<li>listing_rate_change_pct: 83.64</li>\n<li>newest_complete_month: 2026-08-01</li>\n<li>trailing_3mo_listings: 101</li>\n<li>trailing_3mo_rate: 33.67</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Open-weights models carry 55.0% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>source period / assessed through / published: 2026-07-01 / 2026-09-04 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $41.33/MWh vs prior 14-day $51.88/MWh (-20.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_da_7d_avg_usd_mwh: 41.33</li>\n<li>caiso_da_prior_14d_avg_usd_mwh: 51.88</li>\n<li>caiso_da_trend_pct: -20.33</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.38 MMBtu/MWh vs prior 14-day 18.29 (-21.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_heat_rate_7d_avg: 14.38</li>\n<li>caiso_heat_rate_prior_14d_avg: 18.29</li>\n<li>caiso_heat_rate_trend_pct: -21.41</li>\n<li>gas_print_max_lag_days: 3</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +32.95% vs control mean +5.51% (gap +27.43pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>ciso_load_yoy_7d_pct: -4.238</li>\n<li>dc_load_premium_pp: 27.43</li>\n<li>erco_load_yoy_7d_pct: 15.27</li>\n<li>pjm_load_yoy_7d_pct: 32.95</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +34.17% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 3</li>\n<li>nova_load_demand_mwh: 109,434</li>\n<li>nova_load_yoy_7d_pct: 34.17</li>\n<li>nova_load_yoy_window_obs: 6</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>against its band: measured -0.2% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -0.1618</li>\n<li>components: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;]</li>\n<li>series: BASKET_NUCLEAR_SPX</li>\n<li>value: 65.32</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: PJM load is materially above its weekday baseline.</li>\n<li>evidence: PJM load anomaly z=1.366</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: weather naive weekday baseline</li>\n<li>metrics:</li>\n<ul>\n<li>dc_load_anomaly_z: 1.366</li>\n<li>dc_load_growth_yoy: 30.59</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>against its band: measured -4.4% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -4.386</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 113.72</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>against its band: measured +0.7% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 0.7365</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 92.36</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>against its band: measured +1.8% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 1.766</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 116.87</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>against its band: measured -2.5% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.498</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 101.20</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>against its band: measured -2.2% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.216</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 130.39</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>against its band: measured +0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.3356</li>\n<li>components: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;]</li>\n<li>series: RATIO_JBBB_JAAA</li>\n<li>value: 99.61</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.246.; Two-year own-history percentile: 43.9.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>corr_percentile_2y: 43.9</li>\n<li>high_percentile_threshold: 80</li>\n<li>low_percentile_threshold: 20</li>\n<li>median_pairwise_corr_63d: 0.2458</li>\n<li>pair_count: 17391</li>\n<li>symbol_count: 187</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>against its band: measured +0.9% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.8653</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.93</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>against its band: measured -0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.2683</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 100.23</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>against its band: measured +0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.2554</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;]</li>\n<li>series: RATIO_NDX_SPX</li>\n<li>value: 103.75</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>against its band: measured -1.3% over 30 days vs its ±1.5% band</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: -1.265</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;]</li>\n<li>series: RATIO_XLU_SPX</li>\n<li>value: 92.59</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8251</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>against its band: measured +5.4% over 30 days vs its ±1.5% band</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 5.37</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.38</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-09-04 09:20:40</li>\n<li>interpretation: AMD beat consensus EPS by 23.0% for the quarter ending Aug 2026.</li>\n<li>against its band: measured +23.0% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7% for the quarter ending Jul 2026.</li>\n<li>against its band: measured +2.7% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-09-01 01:19:14</li>\n<li>interpretation: META missed consensus EPS by 13.0% for the quarter ending Jul 2026.</li>\n<li>against its band: measured -13.0% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-29 21:40:26</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6% for the quarter ending Jul 2026.</li>\n<li>against its band: measured +12.6% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-26 / 2026-09-05 11:11:50</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2% for the quarter ending Aug 2026.</li>\n<li>against its band: measured +6.2% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.22</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 2.09</li>\n<li>event_date: 2026-08-26</li>\n<li>surprise_pct: 6.22</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-09-02 23:41:24</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3% for the quarter ending Jun 2026.</li>\n<li>against its band: measured +13.3% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-04 19:00:16</li>\n<li>interpretation: The probability-weighted implied cap is $1,323B (conditional on an IPO), +7.62% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $860.; Probability-weighted bucket midpoint: $1,323B.; Seven-day implied-cap change: +7.62%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 5</li>\n<li>bucket_prob_sum: 0.0705</li>\n<li>full_set_prob_sum: 0.9955</li>\n<li>implied_cap_change_7d_pct: 7.619</li>\n<li>implied_cap_usd_b: 1,322.70</li>\n<li>ipo_by_2026_prob: 0.095</li>\n<li>no_ipo_by_2026_prob: 0.925</li>\n<li>volume_24h_total: 860.49</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-04</td><td class=\"num\">145,866</td><td class=\"num\">24</td><td class=\"num\">-0.8812</td><td class=\"num\">12.81</td></tr>\n<tr><td>CISO</td><td>2026-09-04</td><td class=\"num\">706,725</td><td class=\"num\">24</td><td class=\"num\">-1.999</td><td class=\"num\">-8.484</td></tr>\n<tr><td>ERCO</td><td>2026-09-04</td><td class=\"num\">1,700,119</td><td class=\"num\">24</td><td class=\"num\">-2.407</td><td class=\"num\">6.228</td></tr>\n<tr><td>PJM</td><td>2026-09-04</td><td class=\"num\">2,960,697</td><td class=\"num\">24</td><td class=\"num\">1.366</td><td class=\"num\">30.59</td></tr>\n<tr><td>SOCO</td><td>2026-09-04</td><td class=\"num\">825,651</td><td class=\"num\">24</td><td class=\"num\">0.03695</td><td class=\"num\">9.329</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">41.03</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">32.22</td><td class=\"num\">0</td><td class=\"num\">-8.806</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">31.91</td><td class=\"num\">0</td><td class=\"num\">-9.116</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.935</li>\n<li>as of: 2026-09-04</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>error</td><td class=\"num\">0</td><td>2026-09-05 17:38:52</td><td>2026-09-05 11:11:50</td><td>ConnectionError: Request failed: [Errno 8] nodename nor servname provided, or not known</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">6</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">1</td><td>2026-09-04 22:20:04</td><td>—</td><td>—</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-05 11:11:50</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-05 13:46:40</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">69</td><td>2026-09-05 11:11:50</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">1</td><td>2026-09-05 11:11:50</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">2</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-05 11:11:52</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">293</td><td>2026-09-05 21:15:00</td><td>2026-09-05 21:00:00</td><td>—</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-05 21:17:47</td><td>2026-09-04 04:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3157</td><td>2026-09-05 13:44:19</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">6300</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">232</td><td>2026-09-05 16:39:08</td><td>2026-09-05 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-05 11:11:50</td><td>2026-09-05 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-09-05 21:25:38</td><td>2026-09-06 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788643541</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-05 11:11:50</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">431</td><td>2026-09-05 11:11:50</td><td>2026-09-05 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">559</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-05 11:11:50</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-05 11:11:50</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-05 13:44:22</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-05 11:11:50</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: catalyst_markets</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-05T22:10:06Z",
      "id": "urn:prexel:issue:4ed4eda7-c849-57d1-a657-0e962c6ea27b",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 13 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-04-daily-6a4e3f5c4ac0.html"
    },
    {
      "_prexel": {
        "content_hash": "e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a",
        "context_hash": "35d840ab41f3c63126095c35c103f191ee6c323af60b0f01151330a38e533c24",
        "kind": "daily",
        "period_end": "2026-09-04"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-22 05:57:30.836000 · correction <code>23024d7180e143a6006396305f2b394e9214e55d9a5c80d2e370fc204cec5060</code> · hash <code>eb8896c2cbec0d4d66c01df4f7f151772f37f46ec6d5cf8b81a7955d6b743699</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-21 01:56:32.522000 · correction <code>d8fee0a38e043ab5630b2528fece5d1c9521cfbefb8b6da45e3c4657dca56247</code> · hash <code>21a1e3029a51fe1c1be7f84db986db568be5174930219225a8fe2d22839e75ff</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45.522000 · correction <code>da3ce68a78061668b7f5c5cf30696f7280c4ab56d1790bd52b7f251f21cc207b</code> · hash <code>d8258ce4cdc4bf252e2c9480a63c160c6b891a9ee501ffec17d363791f28a918</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-20 13:53:45.522000 · correction <code>5206276c8dcab4fc35ec1b96d20df2e52fd41420441c27eb68f98eff91e31ee9</code> · hash <code>37b8c759c793568d564cd4ec2911ee887b9239463184b2215d72148fd98f7f4e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05.085000 · correction <code>a1a057bd78136e8b3466f1901744659be0fd8c5338de8e51e1be0458fe610d2f</code> · hash <code>3eec8a6903d5f8d9f9471151c475fdb6463a53d7d6b3bac222a5bbc190b024c1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05.085000 · correction <code>97472f1507512a23b988556b2f8ad0a33831dcb8bd39eac972e53e39c433046e</code> · hash <code>93f905bcf759db82de943d87219302648ad204f18d25fd5b36beee3138419454</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>e78bccc41ed6a8f4541ed39ecfe09cde900f1cfe06b8596b5227c0107ae07e6a</code> · effective 2026-09-18 04:22:05.085000 · correction <code>6d79093ab377c020bf89091b919a32f0b021755962f7f8b30f9c536357ce139a</code> · hash <code>96d6036dd5e13e311aa86c6161c1ff69da8855b2d8f91342a8e88962d6e903be</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 13 (daily)</h1>\n<p>Period: 2026-09-04 → 2026-09-04</p>\n<p>Context hash: <code>35d840ab41f3c63126095c35c103f191ee6c323af60b0f01151330a38e533c24</code></p>\n<h2>Since the Last Issue</h2>\n<h3>Open patterns</h3>\n<ul>\n<li><strong>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</strong> — conflict across Capital markets + Supply chain; open since 4 Sep.</li>\n</ul>\n<h3>Calls that changed</h3>\n<ul>\n<li>CAISO day-ahead power prices: ◆ Mixed → ▲ Bullish, 4 Sep</li>\n<li>CAISO implied heat rate: ◆ Mixed → ▲ Bullish, 4 Sep</li>\n<li>Neoclouds vs S&amp;P 500: ▼ Bearish → ◆ Mixed, 4 Sep</li>\n<li>Utilities vs S&amp;P 500: ▼ Bearish → ◆ Mixed, 4 Sep</li>\n</ul>\n<h3>Stretched vs registered bands</h3>\n<p>Each family is shown against its own registered band — two real numbers, never a multiple. Not a ranking of importance.</p>\n<ul>\n<li>B200 vs H100 rental price: -32.8% vs its ±5% band</li>\n<li>NVIDIA earnings surprise: +6.2% EPS surprise vs its ±1% band</li>\n<li>BDCs vs investment-grade credit: +5.4% over 30 days vs its ±1.5% band</li>\n<li>Data-centre landlords vs S&amp;P 500: -4.4% over 30 days vs its ±2% band</li>\n<li>AI power names vs S&amp;P 500: -2.5% over 30 days vs its ±2% band</li>\n</ul>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>New or reassessed this period:</strong> 43 chart-local call(s); the section below contains the decision-relevant subset.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 19 bullish, 6 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>What Changed</h2>\n<p>New or reassessed calls are selected from evidence dated or published inside this report period. They remain chart-local; opposing calls can appear together and no portfolio verdict is implied.</p>\n<ul>\n<li><strong>▼ Bearish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Down 2.2% over the last 30 days. Measured -2.2% over 30 days vs its ±2% band. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 4.4% over the last 30 days. Measured -4.4% over 30 days vs its ±2% band. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 2.5% over the last 30 days. Measured -2.5% over 30 days vs its ±2% band. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — frontier-vs-installed-base GPU rental pricing</strong> (B200 vs H100 rental price, Near term): The B200/H100 rent ratio is compressing — the frontier premium is eroding. Measured -32.8% vs its ±5% band. Wrong if: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li><strong>▼ Bearish — durability of routed inference demand</strong> (Inference demand concentration, Near term): Routed inference demand is concentrating into its largest apps — the demand base is thinning. Wrong if: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.82× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n</ul>\n<p>37 additional new or reassessed call(s) are in the evidence appendix.</p>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-04 18:00:16</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>against its band: measured -32.8% vs its ±5% band</li>\n<li>evidence: b200_h100_ratio=2.0457530129984853; b200_h100_ratio_change_14d_pct=-0.3275995629945651; b200_offered_usd_hr=6.003906249999999; band_measured_pct=-32.75995629945651; band_pct=5.0; h100_spot_usd_hr=2.934814814814815</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>b200_h100_ratio: 2.046</li>\n<li>b200_h100_ratio_change_14d_pct: -0.3276</li>\n<li>b200_offered_usd_hr: 6.004</li>\n<li>band_measured_pct: -32.76</li>\n<li>band_pct: 5</li>\n<li>h100_spot_usd_hr: 2.935</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-04 18:00:16</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-04 18:00:16</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=0.5319148936170213; h100_depth_smoothed_3d=54.0; h100_dispersion_smoothed_3d=1.946086992681304; h100_price_change_14d_pct=0.04675249182973807</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel</li>\n<li>metrics:</li>\n<ul>\n<li>h100_depth_change_14d_pct: 0.5319</li>\n<li>h100_depth_smoothed_3d: 54</li>\n<li>h100_dispersion_smoothed_3d: 1.946</li>\n<li>h100_price_change_14d_pct: 0.04675</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:52</li>\n<li>interpretation: Up 10.9% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 10.88%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>token_change_7d_pct: 10.88</li>\n<li>top_n: 100</li>\n<li>total_requests: 2167546683</li>\n<li>total_tokens: 143494084706322</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:52</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +2.11pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.2%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>top10_app_token_share: 79.21</li>\n<li>top10_share_change_14d_pp: 2.109</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: The fixed-basket price is $0.692/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: The token-weighted effective price is $0.720/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>data through / published: 2026-08-01 / 2026-09-04 19:00:16</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.3 listings/month.; Relative change: +83.6%.; Trailing three complete months: 101 new listings (33.7/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>band_rel_pct: 25</li>\n<li>baseline_12mo_rate: 18.33</li>\n<li>listing_rate_change_pct: 83.64</li>\n<li>newest_complete_month: 2026-08-01</li>\n<li>trailing_3mo_listings: 101</li>\n<li>trailing_3mo_rate: 33.67</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Open-weights models carry 55.0% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>source period / assessed through / published: 2026-07-01 / 2026-09-04 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ▲ Bullish</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: California day-ahead power prices are running materially below their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $41.33/MWh vs prior 14-day $51.88/MWh (-20.3%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_da_7d_avg_usd_mwh: 41.33</li>\n<li>caiso_da_prior_14d_avg_usd_mwh: 51.88</li>\n<li>caiso_da_trend_pct: -20.33</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ▲ Bullish</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: CAISO power is getting materially cheaper net of fuel — dispatchable scarcity is easing.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 14.38 MMBtu/MWh vs prior 14-day 18.29 (-21.4%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_heat_rate_7d_avg: 14.38</li>\n<li>caiso_heat_rate_prior_14d_avg: 18.29</li>\n<li>caiso_heat_rate_trend_pct: -21.41</li>\n<li>gas_print_max_lag_days: 3</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +32.95% vs control mean +5.51% (gap +27.43pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>ciso_load_yoy_7d_pct: -4.238</li>\n<li>dc_load_premium_pp: 27.43</li>\n<li>erco_load_yoy_7d_pct: 15.27</li>\n<li>pjm_load_yoy_7d_pct: 32.95</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +34.17% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 3</li>\n<li>nova_load_demand_mwh: 109,434</li>\n<li>nova_load_yoy_7d_pct: 34.17</li>\n<li>nova_load_yoy_window_obs: 6</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>against its band: measured -0.2% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -0.16%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -0.1618</li>\n<li>components: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;]</li>\n<li>series: BASKET_NUCLEAR_SPX</li>\n<li>value: 65.32</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:12:11</li>\n<li>interpretation: PJM load is materially above its weekday baseline.</li>\n<li>evidence: PJM load anomaly z=1.366</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: weather naive weekday baseline</li>\n<li>metrics:</li>\n<ul>\n<li>dc_load_anomaly_z: 1.366</li>\n<li>dc_load_growth_yoy: 30.59</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 4.4% over the last 30 days.</li>\n<li>against its band: measured -4.4% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -4.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -4.386</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 113.72</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>against its band: measured +0.7% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: 0.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 0.7365</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 92.36</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 1.8% over the last 30 days.</li>\n<li>against its band: measured +1.8% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: 1.77%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 1.766</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 116.87</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 2.5% over the last 30 days.</li>\n<li>against its band: measured -2.5% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -2.50%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.498</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 101.20</li>\n</ul>\n</ul>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>against its band: measured -2.2% over 30 days vs its ±2% band</li>\n<li>evidence: 30-day relative-price change: -2.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.216</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 130.39</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>against its band: measured +0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.3356</li>\n<li>components: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;]</li>\n<li>series: RATIO_JBBB_JAAA</li>\n<li>value: 99.61</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.246.; Two-year own-history percentile: 43.9.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>corr_percentile_2y: 43.9</li>\n<li>high_percentile_threshold: 80</li>\n<li>low_percentile_threshold: 20</li>\n<li>median_pairwise_corr_63d: 0.2458</li>\n<li>pair_count: 17391</li>\n<li>symbol_count: 187</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>against its band: measured +0.9% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.87%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.8653</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.93</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 0.3% over the last 30 days.</li>\n<li>against its band: measured -0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: -0.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.2683</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 100.23</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>against its band: measured +0.3% over 30 days vs its ±1% band</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.2554</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;]</li>\n<li>series: RATIO_NDX_SPX</li>\n<li>value: 103.75</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Down 1.3% over the last 30 days.</li>\n<li>against its band: measured -1.3% over 30 days vs its ±1.5% band</li>\n<li>evidence: 30-day relative-price change: -1.27%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: -1.265</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;]</li>\n<li>series: RATIO_XLU_SPX</li>\n<li>value: 92.59</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.825.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8251</li>\n</ul>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-05 11:11:50</li>\n<li>interpretation: Up 5.4% over the last 30 days.</li>\n<li>against its band: measured +5.4% over 30 days vs its ±1.5% band</li>\n<li>evidence: 30-day relative-price change: 5.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 5.37</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.38</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-09-04 09:20:40</li>\n<li>interpretation: AMD beat consensus EPS by 23.0% for the quarter ending Aug 2026.</li>\n<li>against its band: measured +23.0% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7% for the quarter ending Jul 2026.</li>\n<li>against its band: measured +2.7% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-09-01 01:19:14</li>\n<li>interpretation: META missed consensus EPS by 13.0% for the quarter ending Jul 2026.</li>\n<li>against its band: measured -13.0% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-29 21:40:26</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6% for the quarter ending Jul 2026.</li>\n<li>against its band: measured +12.6% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-26 / 2026-09-05 11:11:50</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2% for the quarter ending Aug 2026.</li>\n<li>against its band: measured +6.2% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.22</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 2.09</li>\n<li>event_date: 2026-08-26</li>\n<li>surprise_pct: 6.22</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-09-02 23:41:24</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3% for the quarter ending Jun 2026.</li>\n<li>against its band: measured +13.3% EPS surprise vs its ±1% band</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-04 / 2026-09-04 19:00:16</li>\n<li>interpretation: The probability-weighted implied cap is $1,323B (conditional on an IPO), +7.62% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $860.; Probability-weighted bucket midpoint: $1,323B.; Seven-day implied-cap change: +7.62%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 5</li>\n<li>bucket_prob_sum: 0.0705</li>\n<li>full_set_prob_sum: 0.9955</li>\n<li>implied_cap_change_7d_pct: 7.619</li>\n<li>implied_cap_usd_b: 1,322.70</li>\n<li>ipo_by_2026_prob: 0.095</li>\n<li>no_ipo_by_2026_prob: 0.925</li>\n<li>volume_24h_total: 860.49</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-04</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-04</td><td class=\"num\">145,866</td><td class=\"num\">24</td><td class=\"num\">-0.8812</td><td class=\"num\">12.81</td></tr>\n<tr><td>CISO</td><td>2026-09-04</td><td class=\"num\">706,725</td><td class=\"num\">24</td><td class=\"num\">-1.999</td><td class=\"num\">-8.484</td></tr>\n<tr><td>ERCO</td><td>2026-09-04</td><td class=\"num\">1,700,119</td><td class=\"num\">24</td><td class=\"num\">-2.407</td><td class=\"num\">6.228</td></tr>\n<tr><td>PJM</td><td>2026-09-04</td><td class=\"num\">2,960,697</td><td class=\"num\">24</td><td class=\"num\">1.366</td><td class=\"num\">30.59</td></tr>\n<tr><td>SOCO</td><td>2026-09-04</td><td class=\"num\">825,651</td><td class=\"num\">24</td><td class=\"num\">0.03695</td><td class=\"num\">9.329</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">41.03</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">32.22</td><td class=\"num\">0</td><td class=\"num\">-8.806</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">31.91</td><td class=\"num\">0</td><td class=\"num\">-9.116</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.935</li>\n<li>as of: 2026-09-04</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-04</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.6826</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-05 11:11:50</td><td>2026-09-05 11:11:50</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">6</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">1</td><td>2026-09-04 22:20:04</td><td>—</td><td>—</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-05 11:11:50</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-04 15:39:49</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">69</td><td>2026-09-05 11:11:50</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">1</td><td>2026-09-05 11:11:50</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">2</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-05 11:11:52</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">325</td><td>2026-09-05 13:12:11</td><td>2026-09-05 13:00:00</td><td>—</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-05 13:06:44</td><td>2026-09-04 04:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3157</td><td>2026-09-05 13:44:19</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">6300</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">229</td><td>2026-09-05 11:11:50</td><td>2026-09-05 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-05 11:11:50</td><td>2026-09-05 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">120</td><td>2026-09-05 13:16:19</td><td>2026-09-06 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788614182</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-05 11:11:50</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">431</td><td>2026-09-05 11:11:50</td><td>2026-09-05 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">559</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-05 11:11:50</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-05 11:11:50</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-05 11:11:50</td><td>2026-09-08 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-04 22:10:07</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-05 11:11:50</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-05T13:44:22Z",
      "id": "urn:prexel:issue:5426a2ba-b57c-5a02-9548-ca66e7ee5a8e",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 13 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-04-daily-e78bccc41ed6.html"
    },
    {
      "_prexel": {
        "content_hash": "fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb",
        "context_hash": "7ccfac25f15878aacee9ee158af5d46fbc58af26b5545a62c9879fdc069da384",
        "kind": "daily",
        "period_end": "2026-09-03"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>7 distinct notices · 7 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-22 05:57:30.836000 · correction <code>f3acb9890bc07352954b3e1b11adff45dace37aa53b2e4002ec25c62c6ba1a10</code> · hash <code>8befa4313c51bf6e36c4d3306add3953866c1fa4103bb12f1ebeb7dab403c5aa</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: Historical AI-complex correlation evidence is not certified: its source cohort includes KXIAY.US, whose retained provider history has two 999999.9999 zero-volume bars and differs from a fresh response on 170 overlapping unadjusted closes and 27 omitted dates. The cause and numerical effect on each historical correlation statistic are unresolved. The current correlation read remains unavailable pending source reconciliation; no historical alpha or corrected correlation value is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;correlation_label&quot;:&quot;unavailable&quot;,&quot;source_under_review&quot;:&quot;KXIAY.US&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-21 01:56:32.522000 · correction <code>5fcac04a2c6d71679cfec9f90f2c77e6483ea9b292982303e3dddbe28cf9e393</code> · hash <code>4f64ea580b319a226872fcf96d66852d7b7a454ea226f335a9764f9dc9ec584f</code></li>\n<ul>\n<li>Evidence: <code>reviews/provider-history-2026-09-21/evidence/comparisons.json</code></li>\n<li>Evidence: <code>ops/price_history_reviews.json</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45.522000 · correction <code>db0c31126a18eb4d56ff7df8d5fcc88814b7aebefdef083dbe17971466244099</code> · hash <code>cdd060dd6ffb94b104e3b69fff0e53b0ad9bba21d94b780c4087f9d085bf6e9d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The data-centre attribution in the original regional-load claim is withdrawn. EIA-930 measures total regional electricity demand. Dominion demand and the PJM-minus-CISO/ERCO growth difference do not isolate data-centre consumption, energized capacity or the cause of load growth. The arithmetic is retained as a weather-blind regional comparison; it is not a causal data-centre estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;data_centre_attribution&quot;:&quot;unavailable&quot;,&quot;dc_load_premium&quot;:&quot;PJM load-growth difference versus CISO/ERCO&quot;,&quot;nova_dc_load&quot;:&quot;Dominion total electricity demand&quot;,&quot;pjm_load_anomaly&quot;:&quot;PJM electricity demand&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-20 13:53:45.522000 · correction <code>c7b29735df063aedc316f168010ae367fb0e82cf0051d9b98a349e133a21dc69</code> · hash <code>6331be0dd84af95006c23c71eec3b578bee0e144e598f6003e32fba0a7a703ad</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05.085000 · correction <code>ec6986bb4c138026ce175e42307731921bb99530cb2a2a298236eb7ca1163e6c</code> · hash <code>04ee6ba2c45ba03e7cf2b65f5301e9b4a5e42145f3d37e5ff820707c36be0ebc</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05.085000 · correction <code>d4017b388250c84c9f4f621040820e3acaf996c3cb1a9b4cacaddfdaedb9e338</code> · hash <code>f59ec4081b3476d0831565fa9159d7239e2dcd9af53ff1a03fde800a6b4c14d9</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>fac9b0aadae78bfbee05ec9d8e608f101edd05aa127092801eb0490fbe2a8cdb</code> · effective 2026-09-18 04:22:05.085000 · correction <code>8fbe7283f492e6a9f2df156e0aa058d7cd93561e976122d924dd28047c89de64</code> · hash <code>e669ed51c2a5209625bf058144cd906bc4e2dfe48ca9fceafc87cd774700dec5</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 12 (daily)</h1>\n<p>Period: 2026-09-03 → 2026-09-03</p>\n<p>Context hash: <code>7ccfac25f15878aacee9ee158af5d46fbc58af26b5545a62c9879fdc069da384</code></p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>New or reassessed this period:</strong> 42 chart-local call(s); the section below contains the decision-relevant subset.</li>\n<li><strong>Current evidence coverage:</strong> 36 usable / 15 no read — 17 bullish, 8 bearish, 11 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>What Changed</h2>\n<p>New or reassessed calls are selected from evidence dated or published inside this report period. They remain chart-local; opposing calls can appear together and no portfolio verdict is implied.</p>\n<ul>\n<li><strong>▼ Bearish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Down 6.9% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — utilities repricing relative to the broad market</strong> (Utilities vs S&amp;P 500, Near term): Down 2.6% over the last 30 days. Wrong if: A 30-day move through the opposite 1.5% threshold.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 4.3% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market</strong> (Neoclouds vs S&amp;P 500, Near term): Down 7.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 6.1% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — frontier-vs-installed-base GPU rental pricing</strong> (B200 vs H100 rental price, Near term): The B200/H100 rent ratio is compressing — the frontier premium is eroding. Wrong if: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n</ul>\n<p>36 additional new or reassessed call(s) are in the evidence appendix.</p>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 6.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.93%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.926</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 125.66</li>\n</ul>\n</ul>\n<h3>CLO BBB vs AAA tranches — ◆ Mixed</h3>\n<ul>\n<li>subject: marginal risk appetite in the AI buildout&#x27;s securitized-debt channel</li>\n<li>chart: <code>capital_jbbb_jaaa</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.31%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.3106</li>\n<li>components: [&#x27;JAAA.US&#x27;, &#x27;JBBB.US&#x27;]</li>\n<li>series: RATIO_JBBB_JAAA</li>\n<li>value: 99.64</li>\n</ul>\n</ul>\n<h3>AI-complex correlation regime — ◆ Mixed</h3>\n<ul>\n<li>subject: single-narrative fragility of the US-listed AI-buildout complex</li>\n<li>chart: <code>capital_correlation_regime</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Medium term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Median pairwise correlation is inside its registered 20th-80th percentile range.</li>\n<li>evidence: 63-day median pairwise correlation: 0.269.; Two-year own-history percentile: 66.7.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 63-day median pairwise correlation&#x27;s two-year percentile crosses the opposite registered 20th/80th threshold.</li>\n<li>data quality: price action, not fundamentals; US-listed cohort only</li>\n<li>metrics:</li>\n<ul>\n<li>corr_percentile_2y: 66.67</li>\n<li>high_percentile_threshold: 80</li>\n<li>low_percentile_threshold: 20</li>\n<li>median_pairwise_corr_63d: 0.2686</li>\n<li>pair_count: 17391</li>\n<li>symbol_count: 187</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.89%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.8908</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.97</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.2261</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 100.33</li>\n</ul>\n</ul>\n<h3>Nasdaq 100 vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: mega-cap concentration in US equities</li>\n<li>chart: <code>capital_ndx_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 1.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.99%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.9869</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;NDX.INDX&#x27;]</li>\n<li>series: RATIO_NDX_SPX</li>\n<li>value: 103.14</li>\n</ul>\n</ul>\n<h3>Utilities vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: utilities repricing relative to the broad market</li>\n<li>chart: <code>capital_xlu_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 2.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.59%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: -2.589</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;XLU.US&#x27;]</li>\n<li>series: RATIO_XLU_SPX</li>\n<li>value: 92.13</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.822.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.822</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-09-04 09:20:40</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified — extreme surprise withheld</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-09-01 01:19:14</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-29 21:40:26</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-26 / 2026-08-28 21:45:35</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.22</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 2.09</li>\n<li>event_date: 2026-08-26</li>\n<li>surprise_pct: 6.22</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-09-02 23:41:24</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>band_pct: 1</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Implied OpenAI valuation — ▲ Bullish</h3>\n<ul>\n<li>subject: market-implied OpenAI IPO valuation</li>\n<li>chart: <code>catalyst_openai_valuation</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-03 23:29:10</li>\n<li>interpretation: The probability-weighted implied cap is $1,349B (conditional on an IPO), +9.85% over seven days.</li>\n<li>evidence: Bucket-set 24h volume: $551.; Probability-weighted bucket midpoint: $1,349B.; Seven-day implied-cap change: +9.85%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 7-day implied-valuation change crosses the opposite 5% band.</li>\n<li>data quality: bucket-midpoint convention; conditional on an IPO occurring; prediction-market probabilities; thin market liquidity</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 5</li>\n<li>bucket_prob_sum: 0.08</li>\n<li>full_set_prob_sum: 1.005</li>\n<li>implied_cap_change_7d_pct: 9.851</li>\n<li>implied_cap_usd_b: 1,349.22</li>\n<li>ipo_by_2026_prob: 0.085</li>\n<li>no_ipo_by_2026_prob: 0.925</li>\n<li>volume_24h_total: 550.54</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 4.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -4.324</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 112.73</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.13%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -1.13</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 91.99</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 7.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.60%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -7.6</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 109.61</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 6.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.055</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 98.33</li>\n</ul>\n</ul>\n<h3>B200 vs H100 rental price — ▼ Bearish</h3>\n<ul>\n<li>subject: frontier-vs-installed-base GPU rental pricing</li>\n<li>chart: <code>compute_b200_h100</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-03 22:19:34</li>\n<li>interpretation: The B200/H100 rent ratio is compressing — the frontier premium is eroding.</li>\n<li>evidence: b200_h100_ratio=2.3561529630439537; b200_h100_ratio_change_14d_pct=-0.22698347694850732; b200_offered_usd_hr=6.385; band_measured_pct=-22.69834769485073; band_pct=5.0; h100_spot_usd_hr=2.709925925925926</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day B200/H100 ratio change crosses the opposite 5% band.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>b200_h100_ratio: 2.356</li>\n<li>b200_h100_ratio_change_14d_pct: -0.227</li>\n<li>b200_offered_usd_hr: 6.385</li>\n<li>band_measured_pct: -22.7</li>\n<li>band_pct: 5</li>\n<li>h100_spot_usd_hr: 2.71</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-03 22:19:34</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU marketplace depth — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental lessor pricing power</li>\n<li>chart: <code>compute_gpu_depth</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-03 22:19:34</li>\n<li>interpretation: Listing depth and offered prices do not move jointly in a registered direction.</li>\n<li>evidence: h100_depth_change_14d_pct=0.36879432624113473; h100_depth_smoothed_3d=48.25; h100_dispersion_smoothed_3d=2.0633931159973145; h100_price_change_14d_pct=0.03905581822017911</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The joint 14-day condition reverses: smoothed depth and price changes take the opposite sign pair.</li>\n<li>data quality: advertised prices, not closed deals; single marketplace panel</li>\n<li>metrics:</li>\n<ul>\n<li>h100_depth_change_14d_pct: 0.3688</li>\n<li>h100_depth_smoothed_3d: 48.25</li>\n<li>h100_dispersion_smoothed_3d: 2.063</li>\n<li>h100_price_change_14d_pct: 0.03906</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:17</li>\n<li>interpretation: Up 14.0% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 14.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>token_change_7d_pct: 14.04</li>\n<li>top_n: 100</li>\n<li>total_requests: 2161452805</li>\n<li>total_tokens: 142019536235160</li>\n</ul>\n</ul>\n<h3>Inference demand concentration — ▼ Bearish</h3>\n<ul>\n<li>subject: durability of routed inference demand</li>\n<li>chart: <code>compute_demand_concentration</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:17</li>\n<li>interpretation: Routed inference demand is concentrating into its largest apps — the demand base is thinning.</li>\n<li>evidence: Fourteen-day concentration change: +1.85pp.; Top-10 apps&#x27; share of top-100 attributed tokens: 79.0%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The 14-day top-10 concentration change crosses the opposite 1.5-point band.</li>\n<li>data quality: public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>top10_app_token_share: 79.04</li>\n<li>top10_share_change_14d_pp: 1.849</li>\n</ul>\n</ul>\n<h3>Inference price cuts (like-for-like) — ⊘ No read</h3>\n<ul>\n<li>subject: like-for-like inference pricing for compute sellers</li>\n<li>chart: <code>compute_price_cuts</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: The fixed-basket price is $0.674/Mtok, but the 7-day like-for-like comparison window is not yet met.</li>\n<li>reasons: not enough catalog-snapshot history yet</li>\n<li>data quality: fixed basket, prior-day token weights; a single router&#x27;s traffic</li>\n</ul>\n<h3>Effective inference price — ⊘ No read</h3>\n<ul>\n<li>subject: inference unit economics for compute sellers</li>\n<li>chart: <code>compute_inference_price</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: The token-weighted effective price is $0.702/Mtok, but the 7-day comparison window is not yet met.</li>\n<li>reasons: not enough price history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic; token-weighted blend across models</li>\n</ul>\n<h3>Model launch cadence — ▲ Bullish</h3>\n<ul>\n<li>subject: frontier-model supply cadence</li>\n<li>chart: <code>compute_model_launches</code></li>\n<li>domain: Compute</li>\n<li>horizon: Medium term</li>\n<li>data through / published: 2026-08-01 / 2026-09-03 10:34:36</li>\n<li>interpretation: New-model listings are running ahead of their trailing baseline — frontier-model supply cadence is accelerating.</li>\n<li>evidence: Prior twelve-month baseline: 18.2 listings/month.; Relative change: +80.8%.; Trailing three complete months: 99 new listings (33.0/month).</li>\n<li>conflicting evidence: Retroactive months undercount models delisted before the first catalog snapshot, which biases the trailing-vs-baseline comparison toward acceleration.</li>\n<li>What would change this call: The trailing-3-month listing rate crosses the opposite 25% band versus the prior-12-month baseline.</li>\n<li>data quality: a single router&#x27;s traffic; retroactive series — survivorship-biased</li>\n<li>metrics:</li>\n<ul>\n<li>band_rel_pct: 25</li>\n<li>baseline_12mo_rate: 18.25</li>\n<li>listing_rate_change_pct: 80.82</li>\n<li>newest_complete_month: 2026-08-01</li>\n<li>trailing_3mo_listings: 99</li>\n<li>trailing_3mo_rate: 33</li>\n</ul>\n</ul>\n<h3>Open-weights token share — ⊘ No read</h3>\n<ul>\n<li>subject: substitution pressure on closed-model pricing power</li>\n<li>chart: <code>compute_openweights_share</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: Open-weights models carry 56.9% of routed standard tokens, but the 14-day comparison window is not yet met.</li>\n<li>reasons: not enough share history yet</li>\n<li>data quality: a panel, not a census; a single router&#x27;s traffic</li>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>CAISO day-ahead power prices — ◆ Mixed</h3>\n<ul>\n<li>subject: California day-ahead power prices relevant to data-centre siting</li>\n<li>chart: <code>power_lmp_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 17:55:26</li>\n<li>interpretation: California day-ahead power prices are tracking their prior two-week average.</li>\n<li>evidence: CAISO NP15 DA 7-day average $44.90/MWh vs prior 14-day $50.46/MWh (-11.0%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average day-ahead price re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_da_7d_avg_usd_mwh: 44.9</li>\n<li>caiso_da_prior_14d_avg_usd_mwh: 50.46</li>\n<li>caiso_da_trend_pct: -11.02</li>\n</ul>\n</ul>\n<h3>CAISO implied heat rate — ◆ Mixed</h3>\n<ul>\n<li>subject: scarcity of dispatchable power net of fuel in CAISO</li>\n<li>chart: <code>power_heat_rate_caiso</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 17:55:26</li>\n<li>interpretation: The CAISO implied heat rate is tracking its prior two-week average.</li>\n<li>evidence: CAISO NP15 DA implied heat rate 7-day average 15.70 MMBtu/MWh vs prior 14-day 17.78 (-11.7%)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day average implied heat rate re-crosses the registered ±15% band versus the prior fourteen-day average.</li>\n<li>data quality: Henry Hub gas proxy, not local basis; latest gas print lags the power print; secondary AI region — proxy read</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 15</li>\n<li>caiso_heat_rate_7d_avg: 15.7</li>\n<li>caiso_heat_rate_prior_14d_avg: 17.78</li>\n<li>caiso_heat_rate_trend_pct: -11.71</li>\n<li>gas_print_max_lag_days: 2</li>\n</ul>\n</ul>\n<h3>Data-centre load premium — ▲ Bullish</h3>\n<ul>\n<li>subject: excess PJM load growth attributable to data-centre buildout</li>\n<li>chart: <code>power_dc_load_premium</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 17:55:26</li>\n<li>interpretation: PJM load growth is materially outrunning the CISO/ERCO controls — excess growth consistent with data-centre buildout is materializing.</li>\n<li>evidence: PJM 7-day mean weather-blind YoY +31.95% vs control mean +7.89% (gap +24.06pp)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean PJM-minus-control YoY growth gap re-crosses the registered ±1.5-point band.</li>\n<li>data quality: attribution by subtraction, not measurement; weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pp: 1.5</li>\n<li>ciso_load_yoy_7d_pct: -0.09908</li>\n<li>dc_load_premium_pp: 24.06</li>\n<li>erco_load_yoy_7d_pct: 15.88</li>\n<li>pjm_load_yoy_7d_pct: 31.95</li>\n</ul>\n</ul>\n<h3>Dominion (N. Virginia) electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: Dominion-zone electricity demand as the ground-truth NoVA data-centre load read</li>\n<li>chart: <code>power_load_nova</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 17:55:26</li>\n<li>interpretation: Dominion-zone demand is growing materially versus the same week last year — data-centre load is materializing.</li>\n<li>evidence: Dominion-zone 7-day mean weather-blind YoY +34.06% (n=6)</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The seven-day mean weather-blind year-over-year growth re-crosses the registered ±3% band.</li>\n<li>data quality: weather-blind same-week YoY method</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 3</li>\n<li>nova_load_demand_mwh: 100,186</li>\n<li>nova_load_yoy_7d_pct: 34.06</li>\n<li>nova_load_yoy_window_obs: 6</li>\n</ul>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Nuclear fuel cycle vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the long-duration nuclear power cohort relative to the broad market</li>\n<li>chart: <code>power_nuclear_spx</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Down 1.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -1.217</li>\n<li>components: [&#x27;BWXT.US&#x27;, &#x27;CCJ.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;LEU.US&#x27;, &#x27;OKLO.US&#x27;, &#x27;URNM.US&#x27;]</li>\n<li>series: BASKET_NUCLEAR_SPX</li>\n<li>value: 64.74</li>\n</ul>\n</ul>\n<h3>PJM electricity demand — ▲ Bullish</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>domain: Power</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 17:55:14</li>\n<li>interpretation: PJM load is materially above its weekday baseline.</li>\n<li>evidence: PJM load anomaly z=2.126</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The anomaly crosses the opposite pre-registered threshold.</li>\n<li>data quality: weather naive weekday baseline</li>\n<li>metrics:</li>\n<ul>\n<li>dc_load_anomaly_z: 2.126</li>\n<li>dc_load_growth_yoy: 35.01</li>\n</ul>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 19:00:16</li>\n<li>interpretation: Up 3.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 3.229</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.17</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>source period / assessed through / published: 2026-07-01 / 2026-09-03 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>AZPS</td><td>2026-09-03</td><td class=\"num\">139,888</td><td class=\"num\">24</td><td class=\"num\">-1.334</td><td class=\"num\">5.85</td></tr>\n<tr><td>CISO</td><td>2026-09-03</td><td class=\"num\">707,996</td><td class=\"num\">24</td><td class=\"num\">-2.219</td><td class=\"num\">-13.84</td></tr>\n<tr><td>ERCO</td><td>2026-09-03</td><td class=\"num\">1,725,124</td><td class=\"num\">24</td><td class=\"num\">-2.608</td><td class=\"num\">13.12</td></tr>\n<tr><td>PJM</td><td>2026-09-03</td><td class=\"num\">2,987,860</td><td class=\"num\">24</td><td class=\"num\">2.126</td><td class=\"num\">35.01</td></tr>\n<tr><td>SOCO</td><td>2026-09-03</td><td class=\"num\">826,909</td><td class=\"num\">24</td><td class=\"num\">0.109</td><td class=\"num\">16.21</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>CAISO</td><td>DA</td><td>TH_NP15_GEN-APND</td><td class=\"num\">36.92</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_SP15_GEN-APND</td><td class=\"num\">29.62</td><td class=\"num\">0</td><td class=\"num\">-7.303</td><td>—</td></tr>\n<tr><td>CAISO</td><td>DA</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">28.91</td><td class=\"num\">0</td><td class=\"num\">-8.007</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.71</li>\n<li>as of: 2026-09-03</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-03</td><td class=\"num\">32.25</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-5.977</td><td class=\"num\">-0.7798</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-04 19:00:16</td><td>2026-09-04 19:00:16</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">5</td><td>2026-09-04 19:00:16</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">1</td><td>2026-09-03 22:20:04</td><td>—</td><td>—</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-04 19:00:16</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>ok</td><td class=\"num\">1</td><td>2026-09-04 15:39:49</td><td>—</td><td>—</td></tr>\n<tr><td>earnings_calendar</td><td>ok</td><td class=\"num\">0</td><td>2026-09-04 19:00:16</td><td>2026-10-29 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-09-04 19:00:16</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-09-04 19:00:16</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-04 19:00:18</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">277</td><td>2026-09-04 21:58:35</td><td>2026-09-04 21:00:00</td><td>—</td></tr>\n<tr><td>eia930_backfill</td><td>never_run</td><td class=\"num\">0</td><td>—</td><td>2026-09-03 17:00:00</td><td>never run</td></tr>\n<tr><td>eia930_subba</td><td>ok</td><td class=\"num\">25</td><td>2026-09-04 21:52:53</td><td>2026-09-03 04:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">3126</td><td>2026-09-04 20:22:45</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">6083</td><td>2026-09-04 19:00:16</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">232</td><td>2026-09-04 19:00:16</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-04 19:00:16</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-04 21:56:35</td><td>2026-09-05 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788558997</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-04 19:00:16</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">427</td><td>2026-09-04 19:00:16</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">554</td><td>2026-09-04 19:00:16</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-04 19:00:16</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-04 19:00:16</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-04 19:00:16</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-04 13:20:22</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-04 19:00:16</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-04T22:10:07Z",
      "id": "urn:prexel:issue:bfcfbca1-09a6-5b8d-8fc1-e7313f1c5e51",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 12 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-03-daily-fac9b0aadae7.html"
    },
    {
      "_prexel": {
        "content_hash": "3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18",
        "context_hash": "c37156c0e1fbf7949935862ee6a5c9fdaeec34fc30c88de5ea0999bb06cded87",
        "kind": "daily",
        "period_end": "2026-09-03"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>5 distinct notices · 5 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-22 05:57:30.836000 · correction <code>10dc5d9316970ab407b3e0211003d08cb07263087198e1c2e181d9c1f61fd439</code> · hash <code>6781fcebf7fd81d068e3827f4df4e76891c8a67a138a44d11f4f7d46986fdd4b</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-20 13:53:45.522000 · correction <code>49dc9f79f60a5bbd2139ee26f0e6b5467f400066bea4c720fe6310958a3142d4</code> · hash <code>377a6b11ef61a2e2a174cf74f38a0116bab31c2feccc88bd302eb294a8f451a2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05.085000 · correction <code>c3b7b3cd0e8d43f4e30b3fbabb04d7a1127d7fb6466c1c6845b8388f4b7299a3</code> · hash <code>a801907bd72e72359cde6b2ce3cffdc9a1917040e9654675be4689ae5314a022</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05.085000 · correction <code>5aa7ca01853828b4822ef9864a4645e30429392d69d1675c51a9bed8a71625ae</code> · hash <code>1be2279d258586f4d56c1437740fc7f315defc6bcf7af7e046f4c320e2942f8c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>3c923be36162fd4a5e6042e8ceb0147353fb24e26f8fd7d33d67d347f16b2d18</code> · effective 2026-09-18 04:22:05.085000 · correction <code>3a2212b24da54979ef37836f71aa1cd450ca780e54a71c8d5bbc15f7c5bd0d32</code> · hash <code>62b92b36e82ffa4e8b11bfd0565632dd345be21c122c2a540715de9b831efdd0</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 12 (daily)</h1>\n<p>Period: 2026-09-03 → 2026-09-03</p>\n<p>Context hash: <code>c37156c0e1fbf7949935862ee6a5c9fdaeec34fc30c88de5ea0999bb06cded87</code></p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>New or reassessed this period:</strong> 25 chart-local call(s); the section below contains the decision-relevant subset.</li>\n<li><strong>Current evidence coverage:</strong> 21 usable / 13 no read — 12 bullish, 5 bearish, 4 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>What Changed</h2>\n<p>New or reassessed calls are selected from evidence dated or published inside this report period. They remain chart-local; opposing calls can appear together and no portfolio verdict is implied.</p>\n<ul>\n<li><strong>▼ Bearish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Down 6.9% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 4.3% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market</strong> (Neoclouds vs S&amp;P 500, Near term): Down 7.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 6.1% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.82× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 14.0% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n</ul>\n<p>19 additional new or reassessed call(s) are in the evidence appendix.</p>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-04 12:40:59</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 09:33:23</li>\n<li>interpretation: Down 6.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.93%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.926</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 125.66</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 09:33:23</li>\n<li>interpretation: Up 0.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.89%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.8908</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.97</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 09:33:23</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.226</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 100.33</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 09:33:23</li>\n<li>interpretation: Front VIX at 0.82× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.822.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.822</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-09-04 09:20:40</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified extreme surprise</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Alphabet earnings surprise — ⊘ No read</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>horizon: Reported quarter</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: provider value unverified extreme surprise</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-09-01 01:19:14</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-29 21:40:26</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-26 / 2026-08-28 21:45:35</li>\n<li>interpretation: NVDA beat consensus EPS by 6.2%.</li>\n<li>evidence: Reported EPS 2.22 versus estimate 2.09.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.22</li>\n<li>estimate_eps: 2.09</li>\n<li>event_date: 2026-08-26</li>\n<li>surprise_pct: 6.22</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-09-02 23:41:24</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 09:33:23</li>\n<li>interpretation: Down 4.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -4.324</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 112.73</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 09:33:23</li>\n<li>interpretation: Down 1.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.13%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -1.129</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 91.99</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 09:33:23</li>\n<li>interpretation: Down 7.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.60%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -7.6</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 109.61</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 09:33:23</li>\n<li>interpretation: Down 6.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.055</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 98.33</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-03 22:19:34</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 12:26:14</li>\n<li>interpretation: Up 14.0% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 14.04%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 14.04</li>\n<li>top_n: 100</li>\n<li>total_requests: 2161452805</li>\n<li>total_tokens: 142019536235160</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-03 / 2026-09-04 09:33:23</li>\n<li>interpretation: Up 3.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 3.229</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.17</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>source period / assessed through / published: 2026-07-01 / 2026-09-03 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-03</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-09-03</td><td class=\"num\">707,996</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-09-03</td><td class=\"num\">1,725,124</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-09-03</td><td class=\"num\">2,987,860</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">36.92</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">29.62</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">28.91</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.71</li>\n<li>as of: 2026-09-03</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-03</td><td class=\"num\">32.25</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-5.977</td><td class=\"num\">-0.7798</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-04 11:47:34</td><td>2026-09-04 11:47:34</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">6</td><td>2026-09-04 10:01:48</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">1</td><td>2026-09-03 22:20:04</td><td>—</td><td>—</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-04 08:50:28</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>error</td><td class=\"num\">0</td><td>2026-09-04 13:15:56</td><td>—</td><td>1 channel error(s)</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">3</td><td>2026-09-04 09:20:40</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">2</td><td>2026-09-04 08:13:01</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">1</td><td>2026-09-04 11:04:46</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">196</td><td>2026-09-04 12:35:19</td><td>2026-09-04 12:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2278</td><td>2026-09-04 13:19:51</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">722</td><td>2026-09-04 09:33:23</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">232</td><td>2026-09-04 10:59:06</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-04 10:14:59</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-04 12:55:31</td><td>2026-09-05 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788526536</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-04 12:08:32</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">425</td><td>2026-09-04 08:50:47</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">554</td><td>2026-09-04 10:21:19</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-04 08:28:06</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-04 12:26:09</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-04 09:02:56</td><td>2026-09-04 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-03 22:10:07</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-04 12:40:38</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: distribute</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-04T13:20:22Z",
      "id": "urn:prexel:issue:45f826bb-898e-54a6-a0d1-6ec4668c85a5",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 12 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-03-daily-3c923be36162.html"
    },
    {
      "_prexel": {
        "content_hash": "c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2",
        "context_hash": "dcc6815a1dbfec7f45bf80df5760e0d57b73f221ed30d984860961be4750e4d2",
        "kind": "daily",
        "period_end": "2026-09-02"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>6 distinct notices · 6 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-22 05:57:30.836000 · correction <code>130df7c186239870ef4cd5541e4060b2bb396cd2d64a49362de3158a5153e2f5</code> · hash <code>edbe97b2da6310e177626dae3cdc3c7cb894617056b60a469f39eecf3931e2e5</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-20 13:53:45.522000 · correction <code>f333c43a96c62961a6e524a26c038642aa6f8e02e2df4ff43e705e353e0769ba</code> · hash <code>6491fba92561d608699614a39b06d6104fbf27025b71da95103a35f17f407bf3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05.085000 · correction <code>fb69036a586c76a2766b8549cbd18c156119fcd1fb93e4252bc5ff53a637da99</code> · hash <code>ce30c775c2ca117c9e017a7403f04f9fc9e7d409ed007a8534b32f1383b27b40</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05.085000 · correction <code>73529258acc08cd9e33e11859820fc306f421e130d6f70df0c117bc157e34546</code> · hash <code>d8dfb386330e02e82c35c6e68aa64c8d894ba1479681d21117687e2bc7cd9510</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-18 04:22:05.085000 · correction <code>41dfc729235a15ef45df81d275eb6c2b462d427f70e61d9e58cf892fa69ab577</code> · hash <code>c95b98f176aff59909bae6250599727d45fd7736f4a51c6b71d41cb7214fcea1</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>c2fa4e93f5cf1dc0111b262abff3161adaf314993f3b88afa20a7d6b26a8b3e2</code> · effective 2026-09-15 06:40:47.848000 · correction <code>a8852c0b462eee0f26c35e9cb36e7d658b68c1b0bf5aa54dc5e636a3117962f2</code> · hash <code>fd6d477e2e0fbce1571d47e1e0e9e6a148dbe6f4a69c3b3e565439bafa4b5145</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 11 (daily)</h1>\n<p>Period: 2026-09-02 → 2026-09-02</p>\n<p>Context hash: <code>dcc6815a1dbfec7f45bf80df5760e0d57b73f221ed30d984860961be4750e4d2</code></p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>New or reassessed this period:</strong> 25 chart-local call(s); the section below contains the decision-relevant subset.</li>\n<li><strong>Current evidence coverage:</strong> 23 usable / 11 no read — 12 bullish, 6 bearish, 5 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>What Changed</h2>\n<p>New or reassessed calls are selected from evidence dated or published inside this report period. They remain chart-local; opposing calls can appear together and no portfolio verdict is implied.</p>\n<ul>\n<li><strong>▼ Bearish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO missed consensus EPS by 55.5%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 5.8% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (Hyperscalers vs S&amp;P 500, Near term): Down 4.2% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the neocloud cohort relative to the broad market</strong> (Neoclouds vs S&amp;P 500, Near term): Down 6.5% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 8.4% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.86× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n</ul>\n<p>19 additional new or reassessed call(s) are in the evidence appendix.</p>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-09-03 10:34:49</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: Down 1.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.65%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -1.652</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 126.85</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.60%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.596</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.99</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: Down 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.18%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.1818</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 100.73</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: Front VIX at 0.86× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.857.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8573</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-08-27 20:28:51</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: AVGO missed consensus EPS by 55.5%.</li>\n<li>evidence: Reported EPS 1.26 versus estimate 2.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.26</li>\n<li>estimate_eps: 2.83</li>\n<li>event_date: 2026-09-02</li>\n<li>surprise_pct: -55.48</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>Alphabet earnings surprise — ◆ Mixed</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-22 / 2026-08-30 23:10:57</li>\n<li>interpretation: GOOGL beat consensus EPS by 216.3%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-09-01 01:19:14</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-29 21:40:26</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA beat consensus EPS by 5.7%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-09-02 23:41:24</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: Down 5.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.84%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -5.837</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 111.27</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: Down 4.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.21%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -4.205</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 90.42</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: Down 6.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.546</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 106.62</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: Down 8.4% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -8.36%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -8.362</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 98.46</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-02 21:45:48</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:37</li>\n<li>interpretation: Up 12.7% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 12.68%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 12.68</li>\n<li>top_n: 100</li>\n<li>total_requests: 2162218859</li>\n<li>total_tokens: 140319889346491</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-02 / 2026-09-03 10:34:36</li>\n<li>interpretation: Up 4.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.54%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 4.541</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.29</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>source period / assessed through / published: 2026-07-01 / 2026-09-02 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-02</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-09-02</td><td class=\"num\">705,840</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-09-02</td><td class=\"num\">1,739,917</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-09-02</td><td class=\"num\">2,992,730</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">37.5</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">33.02</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">32.91</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.69</li>\n<li>as of: 2026-09-02</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-02</td><td class=\"num\">32.7</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-4.665</td><td class=\"num\">-0.7541</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-03 16:54:02</td><td>2026-09-03 16:54:02</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">5</td><td>2026-09-03 10:34:36</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">1</td><td>2026-09-02 22:20:02</td><td>—</td><td>—</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-03 10:34:36</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>distribute</td><td>error</td><td class=\"num\">0</td><td>2026-09-03 13:46:44</td><td>—</td><td>1 channel error(s)</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">3</td><td>2026-09-03 10:34:36</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">5</td><td>2026-09-03 10:34:36</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-03 10:34:37</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">181</td><td>2026-09-03 21:36:12</td><td>2026-09-03 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2251</td><td>2026-09-03 10:34:47</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">693</td><td>2026-09-03 10:34:36</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">215</td><td>2026-09-03 16:49:12</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>hf_model_stats</td><td>ok</td><td class=\"num\">239</td><td>2026-09-03 10:34:36</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-03 21:52:47</td><td>2026-09-04 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788472369</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-03 10:34:36</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>model_catalog</td><td>ok</td><td class=\"num\">424</td><td>2026-09-03 10:34:36</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>model_usage</td><td>ok</td><td class=\"num\">578</td><td>2026-09-03 10:34:36</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-03 10:34:36</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-03 10:34:36</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">600</td><td>2026-09-03 10:34:36</td><td>2026-09-03 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-02 22:10:02</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-03 10:34:36</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: distribute</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-03T22:10:07Z",
      "id": "urn:prexel:issue:e43d2d59-f2bb-53f6-94ad-c67f4604687a",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 11 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-02-daily-c2fa4e93f5cf.html"
    },
    {
      "_prexel": {
        "content_hash": "68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789",
        "context_hash": "65d3992af410f27e76b76a6fce60a3614f7b7ec9dbf3837439b446a61fec8d10",
        "kind": "daily",
        "period_end": "2026-09-01"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>6 distinct notices · 6 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-22 05:57:30.836000 · correction <code>ea0265a416758bae5c959ea2d2cc8586325e7235449fea45570c66c698c45875</code> · hash <code>91d67a867ed93cd54916e7631a969eb2b7f815f8dc9950a532fc414001dbd473</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-20 13:53:45.522000 · correction <code>b7568a3d6d613024fee9ab7f660f5acb8d966d04eed315b314a076ae7891c4d7</code> · hash <code>4749c5be8ae03ba2b272ce94120588ee574d4bb8fa546a40523bdc10f32b6b65</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05.085000 · correction <code>bb7416c457985e15133daae8a81e49fdb4fa41a3cf2e341815cdd453ab9ae64b</code> · hash <code>7b3fcc99ff7d3fb3650ae7c7f08c2736110a7480c67b94b035c9ab58211a52ce</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: MICROSOFT: the 329100000000.00 USD amount previously labelled capex_commitment is uncommenced lease commitments, as of 2026-06-30. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;329100000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-07-29&quot;,&quot;commitment_type&quot;:&quot;uncommenced_leases&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-06-30&quot;,&quot;event_type&quot;:&quot;lease_commitment_uncommenced&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;594627b7-1cab-5e4c-962f-dc1f600ba688&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05.085000 · correction <code>b39b203dab1eed1264fde0f2a9a87b8248eaa4aa7a26bb53e5eb9bcad70ba23d</code> · hash <code>d81decc250bdac18bba557c91bf6f0835823c4587f6c5a5c332087aa50f7f913</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:9eb00bcf-22f5-4c78-b8b3-7ccbe461473e</code></li>\n<li>Evidence: <code>source_document_hash:4bcf2da2871acc19e32c5a62f36f6d83d6aae03cdc4aaa9a86a9a21ee8223f02</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: NVIDIA: the 366000000000.00 USD amount previously labelled capex_commitment is total purchase obligations, as of 2026-07-26. This corrects the classification to match the retained review&#x27;s own rationale; the amount is unchanged. It is not realized capital expenditure or a newly verified issuer estimate.</li>\n</ul>\n<p>Replacement record: <code>{&quot;amount&quot;:&quot;366000000000.00&quot;,&quot;announcement_date&quot;:&quot;2026-08-26&quot;,&quot;commitment_type&quot;:&quot;purchase_obligations&quot;,&quot;counterparty&quot;:null,&quot;currency&quot;:&quot;USD&quot;,&quot;effective_date&quot;:&quot;2026-07-26&quot;,&quot;event_type&quot;:&quot;purchase_obligations_total&quot;,&quot;maturity_date&quot;:null,&quot;superseding_review_id&quot;:&quot;51a65050-f92a-54a6-a288-c10c7fa3eb12&quot;,&quot;tenor_months&quot;:null}</code></p>\n<ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-18 04:22:05.085000 · correction <code>a00a1893e72e703d4a35b8ffe0bd63723e0f45d779a01a6a3dd9acab8cf58496</code> · hash <code>9a2fe7d5d16fa53368347ef76e8a12ed93c15a7c3674a17a479d428710c4ee99</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>aib_silver.capital_structure_event_reviews:6ff9aea9-156f-4102-a385-234e2baea52e</code></li>\n<li>Evidence: <code>source_document_hash:e2634e509c241c5f45e3f6c115dc38a85645e5fdbee760b4a04f5e9035f6f7a9</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789</code> · effective 2026-09-15 06:40:47.848000 · correction <code>bc752df5740a3704878db890adb9fe646399c713b61a0704e63f025456461614</code> · hash <code>d38f37f6aa748253e925aba2021dccdcff747909211fb7bed0f4e37224b33af3</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 10 (daily)</h1>\n<p>Period: 2026-09-01 → 2026-09-01</p>\n<p>Context hash: <code>65d3992af410f27e76b76a6fce60a3614f7b7ec9dbf3837439b446a61fec8d10</code></p>\n<h2>Today in Brief</h2>\n<ul>\n<li><strong>New or reassessed this period:</strong> 24 chart-local call(s); the section below contains the decision-relevant subset.</li>\n<li><strong>Current evidence coverage:</strong> 23 usable / 11 no read — 13 bullish, 4 bearish, 6 mixed. These are coverage counts, not an aggregate market signal.</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>What Changed</h2>\n<p>New or reassessed calls are selected from evidence dated or published inside this report period. They remain chart-local; opposing calls can appear together and no portfolio verdict is implied.</p>\n<ul>\n<li><strong>▼ Bearish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Down 2.0% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 4.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 8.0% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.89× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 15.2% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n</ul>\n<p>18 additional new or reassessed call(s) are in the evidence appendix.</p>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-09-02 20:03:19</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Developments</h2>\n<p>3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.</p>\n<ul>\n<li><strong>MICROSOFT · capex_commitment:</strong> 329100000000.00 USD; announced 2026-07-29.</li>\n<li><strong>NVIDIA · capex_commitment:</strong> 366000000000.00 USD; announced 2026-08-26.</li>\n<li><strong>NVIDIA · debt_issuance:</strong> 25000000000.00 USD; announced 2026-06-15.</li>\n</ul>\n<p>Full filing links, excerpts, reviewer facts, and methodology are in the appendix.</p>\n<h2>Evidence Appendix — All Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 16:50:51</li>\n<li>interpretation: Down 2.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.05%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.052</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 126.86</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 16:50:51</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.5495</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 103.10</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 16:50:51</li>\n<li>interpretation: Down 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.68%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.6797</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 100.72</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 16:50:51</li>\n<li>interpretation: Front VIX at 0.89× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.891.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8914</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-08-27 20:28:51</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-03 / 2026-08-26 11:40:35</li>\n<li>interpretation: AVGO beat consensus EPS by 1.7%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>Alphabet earnings surprise — ◆ Mixed</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-22 / 2026-08-30 23:10:57</li>\n<li>interpretation: GOOGL beat consensus EPS by 216.3%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-09-01 01:19:14</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-29 21:40:26</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA beat consensus EPS by 5.7%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-08-25 13:09:40</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 16:50:51</li>\n<li>interpretation: Down 4.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -4.63%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -4.633</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 112.83</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 16:50:51</li>\n<li>interpretation: Down 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.62%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -0.6238</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 90.02</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 16:50:51</li>\n<li>interpretation: Up 1.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.97%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 0.9717</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 104.57</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 16:50:51</li>\n<li>interpretation: Down 8.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.96%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -7.962</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 97</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-01 20:56:13</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 20:01:45</li>\n<li>interpretation: Up 15.2% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 15.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 15.23</li>\n<li>top_n: 100</li>\n<li>total_requests: 2146963710</li>\n<li>total_tokens: 138253754756329</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-09-01 / 2026-09-02 16:50:51</li>\n<li>interpretation: Up 6.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 6.88%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 6.883</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.25</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>source period / assessed through / published: 2026-07-01 / 2026-09-01 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-09-01</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-09-01</td><td class=\"num\">732,835</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-09-01</td><td class=\"num\">1,732,225</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-09-01</td><td class=\"num\">2,943,331</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">39.73</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">38.51</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">37.53</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.668</li>\n<li>as of: 2026-09-01</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-09-01</td><td class=\"num\">31.6</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-7.872</td><td class=\"num\">-0.8963</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Appendix — Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed facts table\" tabindex=\"0\"><table><caption>Confirmed facts</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">announced</th><th scope=\"col\">amount</th><th scope=\"col\">commitment</th><th scope=\"col\">reviewer</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>2026-07-29</td><td class=\"num\">329100000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>2026-08-26</td><td class=\"num\">366000000000.00 USD</td><td>other</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>2026-06-15</td><td class=\"num\">25000000000.00 USD</td><td>senior_notes</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: &quot;As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion&quot;, commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing&#x27;s only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: &quot;In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes.&quot; The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h3>Confirmed debt issuance by quarter</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Confirmed debt issuance by quarter table\" tabindex=\"0\"><table><caption>Confirmed debt issuance by quarter</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">period</th><th scope=\"col\">amount</th><th scope=\"col\">confirmed events</th><th scope=\"col\">known at</th>\n</tr></thead><tbody>\n<tr><td>NVIDIA</td><td>2026-04-01 → 2026-06-30</td><td class=\"num\">25000000000.00 USD</td><td class=\"num\">1</td><td>2026-08-26 20:36:00</td></tr>\n</tbody></table></div>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<p>No candidate is awaiting review.</p>\n<h3>Rejected matches (not evidence)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Rejected matches (not evidence) table\" tabindex=\"0\"><table><caption>Rejected matches (not evidence)</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">reviewer</th><th scope=\"col\">reason</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>False positive: the matched term &quot;debt maturities&quot; occurs in Microsoft&#x27;s generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>claude-automated-review (research-verified; delegated by operator 2026-08-31)</td><td>Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA&#x27;s aggregate debt maturities schedule as of Jul 26 2026 (due &lt;=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; &gt;10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).</td></tr>\n</tbody></table></div>\n<h2>Appendix — Data Coverage</h2>\n<p>Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report&#x27;s evidence window.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">source watermark</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-02 17:47:50</td><td>2026-09-02 17:47:50</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">6</td><td>2026-09-02 21:45:29</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-09-01 22:20:02</td><td>—</td><td>head unchanged since last anchor (seq=2)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-01 23:12:25</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-09-01 23:52:34</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">11</td><td>2026-09-02 00:17:48</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">1</td><td>2026-09-02 00:57:04</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">184</td><td>2026-09-02 21:53:36</td><td>2026-09-02 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2179</td><td>2026-09-02 20:03:18</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">667</td><td>2026-09-02 16:50:51</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">210</td><td>2026-09-02 16:30:07</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-02 22:09:27</td><td>2026-09-03 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788386969</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-01 21:29:40</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-01 21:06:21</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-02 20:01:44</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-09-02 16:20:37</td><td>2026-09-02 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-09-01 22:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>error</td><td class=\"num\">0</td><td>2026-09-02 17:08:19</td><td>2026-07-01 00:00:00</td><td>ConnectionError: Request timed out:</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: tsmc_revenue</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-02T22:10:03Z",
      "id": "urn:prexel:issue:6c22be35-c9f3-5a9e-a4f6-1255cc3702cc",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 10 (daily)",
      "url": "https://prexel.xyz/issues/2026-09-01-daily-68b296062ffa.html"
    },
    {
      "_prexel": {
        "content_hash": "7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c",
        "context_hash": "015c5a76aecc1e9f181eee10bf91a54dcedb5b534d1a2bfad70429f6b92d2aa1",
        "kind": "daily",
        "period_end": "2026-08-31"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-22 05:57:30.836000 · correction <code>a3c94512a7ad27b31a17bca85f5b560c9a81dd216fee4cc1335f71e4945c1589</code> · hash <code>d846e1236c2a5c63ec54685e89d6393963983bf71aef4c4d1d3bae9a4605cae8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-20 13:53:45.522000 · correction <code>e3a0bec18eb61ce8f3e6e2b8f20d63aee88646ae1b021062b34967deb892782d</code> · hash <code>314de6eb85ffa0c5e6ad4d9707d760efb80a5f41739222627e19df1e84b08110</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-18 04:22:05.085000 · correction <code>16706c471c7facc2c1a1c5f19e49d88b785a301d86643e45816b5a2a7be63dd0</code> · hash <code>9ece887611bdcb76b265c290c01ae68e16f8f66bb21a81ef6a4d8acb003b6e38</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7c40a7f6f8c46783e9547a765c3214728eb29371124af21519232b784e6a601c</code> · effective 2026-09-15 06:40:47.848000 · correction <code>f7f0be048ee14975f867c1db7cf098e530b5f82da9e5a1d01b5426a3ccf912e0</code> · hash <code>90dd89d0391d5d0cf9b6f98c8656e8a943e5c1d6b598d618799dcb235f92b083</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 9 (daily)</h1>\n<p>Period: 2026-08-31 → 2026-08-31</p>\n<p>Context hash: <code>015c5a76aecc1e9f181eee10bf91a54dcedb5b534d1a2bfad70429f6b92d2aa1</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (23 available, 11 unavailable)</li>\n<li>▲ Bullish: near-term public-market risk appetite (VIX term structure), AMD quarterly EPS execution versus consensus (AMD earnings surprise), AMZN quarterly EPS execution versus consensus (Amazon earnings surprise), AVGO quarterly EPS execution versus consensus (Broadcom earnings surprise), MSFT quarterly EPS execution versus consensus (Microsoft earnings surprise), NVDA quarterly EPS execution versus consensus (NVIDIA earnings surprise), ORCL quarterly EPS execution versus consensus (Oracle earnings surprise), landlord pricing power in Northern Virginia colocation (Colo asking rents — N. Virginia), delivered wholesale colocation capacity in Northern Virginia (Colo capacity delivered — N. Virginia), landlord pricing power in Northern Virginia colocation (Colo vacancy — N. Virginia), public-market pricing of the neocloud cohort relative to the broad market (Neoclouds vs S&amp;P 500), OpenRouter public-app inference activity (Inference demand — OpenRouter), listed BDC pricing relative to investment-grade credit (BDCs vs investment-grade credit), leading foundry demand represented by TSMC monthly revenue (TSMC monthly revenue)</li>\n<li>▼ Bearish: META quarterly EPS execution versus consensus (Meta earnings surprise), listed data-centre landlord pricing relative to the broad market (Data-centre landlords vs S&amp;P 500), public-market pricing of the AI-power cohort relative to the broad market (AI power names vs S&amp;P 500)</li>\n<li>◆ Mixed: semiconductor equity leadership relative to the broad US market (Semiconductors vs S&amp;P 500), public-credit risk appetite relevant to AI-buildout financing (High-yield vs investment-grade credit), US equity breadth relative to capitalization-weighted equities (Equal-weight vs cap-weight S&amp;P), GOOGL quarterly EPS execution versus consensus (Alphabet earnings surprise), public-market pricing of the hyperscaler cohort relative to the broad market (Hyperscalers vs S&amp;P 500), GPU rental-provider pricing power (GPU rental availability)</li>\n<li>⊘ No read: AI event odds, GPU resale values, GPU spot vs contract pricing, H100 spot rental price, US AI policy events, N. Virginia power basis, PJM electricity demand, PJM day-ahead vs real-time prices, Data-centre power capacity delivery, Private AI secondary pricing, Korean chip exports</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 20:26:35</li>\n<li>interpretation: Down 0.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.75%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -0.7533</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 128.55</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 20:26:35</li>\n<li>interpretation: Up 0.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.48%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.4812</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 103.03</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 20:26:35</li>\n<li>interpretation: Down 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -0.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -0.5453</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 100.86</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 20:26:35</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.854.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8541</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-08-27 20:28:51</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-03 / 2026-08-26 11:40:35</li>\n<li>interpretation: AVGO beat consensus EPS by 1.7%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>Alphabet earnings surprise — ◆ Mixed</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-22 / 2026-08-30 23:10:57</li>\n<li>interpretation: GOOGL beat consensus EPS by 216.3%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-09-01 01:19:14</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-29 21:40:26</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA beat consensus EPS by 5.7%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-08-25 13:09:40</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 20:26:35</li>\n<li>interpretation: Down 4.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.98%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -3.985</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 113.60</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 20:26:35</li>\n<li>interpretation: Up 0.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.45%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 0.4529</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 90.99</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 20:26:35</li>\n<li>interpretation: Up 3.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.54%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 3.541</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 107.23</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 20:26:35</li>\n<li>interpretation: Down 8.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -8.55%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -8.549</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 96.38</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 21:27:50</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-30 / 2026-08-31 20:05:30</li>\n<li>interpretation: Up 22.8% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 22.83%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 22.83</li>\n<li>top_n: 100</li>\n<li>total_requests: 2072427331</li>\n<li>total_tokens: 133089754763947</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-31 20:26:35</li>\n<li>interpretation: Up 7.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 7.14%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 7.136</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.51</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-31 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-31</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-31</td><td class=\"num\">773,933</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-31</td><td class=\"num\">1,762,060</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-31</td><td class=\"num\">2,706,573</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.68</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">44.05</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">42.64</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.835</li>\n<li>as of: 2026-08-31</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-08-31</td><td class=\"num\">32.13</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">-6.327</td><td class=\"num\">-0.8553</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<p>No capital-structure fact has been analyst-confirmed.</p>\n<h3>Confirmed debt issuance by quarter</h3>\n<p>Unavailable: no analyst-confirmed, quantified debt issuance is available.</p>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>debt maturities</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>capital expenditures</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>senior unsecured notes</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>debt maturities, refinance</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: …pport AI models and related cloud-based services, including building and expanding datacenters, acquiring necessary components, and securing energy resources. These investments are being made at significant scale and on an accelerated timeline, require substantial and increasing capital expenditures and continued access to capital, and are in advance of fully developed revenue streams. The associated revenue may not be realized in the expected timeframes or at expected levels. Our capital and operational investments are complex and involve projects in multiple locations aro… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. 42 PART II Item 7 Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $76.8 billion and $94.6 billion as of June 30, 2026… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: …, 2026, were as follows: Remainder of 2027 2028 2029 2030 2031 2032 and thereafter Total (In billions) Supply and capacity $ 92 $ 87 $ 88 $ 6 $ 5 $ 1 $ 279 Cloud service agreements 3 8 7 6 4 1 29 Data center leases not commenced — 1 1 2 1 20 25 Equity investments 18 3 2 2 — — 25 Capital expenditures 7 1 — — — — 8 Total $ 120 $ 100 $ 98 $ 16 $ 10 $ 22 $ 366 Supply and capacity – We have partnered with our extensive network to secure the necessary supply and critical components needed to meet demand for the next several years, increasing supply commitments from $ 119 billion… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: …3.70 % Notes Due 2060 33.7 3.73 % 500 500 Unamortized debt discount and issuance costs ( 134 ) ( 32 ) Net carrying amount $ 33,366 $ 8,468 Less short-term portion ( 1,000 ) ( 999 ) Total long-term portion $ 32,366 $ 7,469 In June 2026, we issued an aggregate of $ 25.0 billion of senior unsecured notes across seven tranches for general corporate purposes. As of July 26, 2026, and January 25, 2026, the estimated fair value of debt was $ 31.4 billion and $ 7.5 billion, respectively. The estimated fair values are based on Level 2 inputs. Our notes are unsecured senior obligations… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_refinancing_maturity</strong>: …as not significant for the second quarter and first half of fiscal year 2027. Outstanding Indebtedness and Commercial Paper Program In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes. Our aggregate debt maturities as of July 26, 2026, by year payable, were as follows: Jul 26, 2026 (In millions) Due in one year $ 1,000 Due in one to five years 15,000 Due in five to ten years 7,500 Due in greater than ten years 10,000 Unamortized debt discount and issuance costs (134) Net carrying amount $… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>◆ Mixed — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Down 0.8% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — public-credit risk appetite relevant to AI-buildout financing</strong> (High-yield vs investment-grade credit, Near term): Up 0.5% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>◆ Mixed — US equity breadth relative to capitalization-weighted equities</strong> (Equal-weight vs cap-weight S&amp;P, Near term): Down 0.6% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.85× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 4.0% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>◆ Mixed — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (Hyperscalers vs S&amp;P 500, Near term): Up 0.5% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market</strong> (Neoclouds vs S&amp;P 500, Near term): Up 3.5% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 8.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 22.8% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — listed BDC pricing relative to investment-grade credit</strong> (BDCs vs investment-grade credit, Near term): Up 7.1% over the last 30 days. Wrong if: A 30-day move through the opposite 1.5% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 4.0% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 22.8% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td></tr>\n</tbody></table></div>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-09-01 17:49:56</td><td>2026-09-01 17:49:56</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">6</td><td>2026-08-31 22:48:02</td><td>2026-08-31 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-08-31 22:20:04</td><td>—</td><td>head unchanged since last anchor (seq=2)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-09-01 00:57:42</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-09-01 01:19:14</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">2</td><td>2026-09-01 01:31:41</td><td>2026-08-31 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-09-01 01:31:42</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">181</td><td>2026-09-01 21:45:39</td><td>2026-09-01 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2138</td><td>2026-09-01 01:31:42</td><td>2026-08-31 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">637</td><td>2026-09-01 18:49:09</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">227</td><td>2026-09-01 21:56:13</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-09-01 22:02:10</td><td>2026-09-02 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788300132</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-09-01 21:29:40</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-09-01 21:06:21</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-09-01 19:03:11</td><td>2026-08-31 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-09-01 14:43:15</td><td>2026-09-01 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-08-31 22:10:02</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-09-01 18:51:37</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-09-01T22:10:03Z",
      "id": "urn:prexel:issue:e96bb78e-3efd-531b-9dbc-ad78c245b0fb",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 9 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-31-daily-7c40a7f6f8c4.html"
    },
    {
      "_prexel": {
        "content_hash": "0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513",
        "context_hash": "288cd58622aae138bc61d8bf3e94c8fec7d27b45775e8a596a7bd5c4a317df6a",
        "kind": "daily",
        "period_end": "2026-08-30"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-22 05:57:30.836000 · correction <code>4e8aabf17beccd35730a733fa2160e3cdb460f091e02b96b87ad6d0cfc778df4</code> · hash <code>9c5c13f9119e05f6caad31063656dd5b79c0709f4ce539d9d70b7548725f2bb9</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-20 13:53:45.522000 · correction <code>ef0c39ac789debad0fa25e5e4cc95f42f02a4d9925eb9b036ef8a2a3fbaff26f</code> · hash <code>f69b882c1ef74fc513301bd3f4450cae8025c4f12e73e52e2dca6da026fb4cfe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-18 04:22:05.085000 · correction <code>70b392423dfe57cbe9f594b2c45676707ef6004aea67fb6b861bfeff69f0c211</code> · hash <code>81fbd511484a284de43d2fb8e9edd2c3a8589532a9f1160ececf56ec411c1762</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0fd23282bdf8881fdf43254def18357f480481cd4d2b0871a046c31eb7219513</code> · effective 2026-09-15 06:40:47.848000 · correction <code>3adbb572a8348d28790876ccd9256392e904d299784df19c00f8d2ec5fe38c56</code> · hash <code>88335010fba23fbff95ac59e286e4e224ed9ae2ca22d032f1f3f6db59de4cf92</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 8 (daily)</h1>\n<p>Period: 2026-08-30 → 2026-08-30</p>\n<p>Context hash: <code>288cd58622aae138bc61d8bf3e94c8fec7d27b45775e8a596a7bd5c4a317df6a</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (23 available, 11 unavailable)</li>\n<li>▲ Bullish: semiconductor equity leadership relative to the broad US market (Semiconductors vs S&amp;P 500), near-term public-market risk appetite (VIX term structure), AMD quarterly EPS execution versus consensus (AMD earnings surprise), AMZN quarterly EPS execution versus consensus (Amazon earnings surprise), AVGO quarterly EPS execution versus consensus (Broadcom earnings surprise), MSFT quarterly EPS execution versus consensus (Microsoft earnings surprise), NVDA quarterly EPS execution versus consensus (NVIDIA earnings surprise), ORCL quarterly EPS execution versus consensus (Oracle earnings surprise), landlord pricing power in Northern Virginia colocation (Colo asking rents — N. Virginia), delivered wholesale colocation capacity in Northern Virginia (Colo capacity delivered — N. Virginia), landlord pricing power in Northern Virginia colocation (Colo vacancy — N. Virginia), public-market pricing of the hyperscaler cohort relative to the broad market (Hyperscalers vs S&amp;P 500), public-market pricing of the neocloud cohort relative to the broad market (Neoclouds vs S&amp;P 500), OpenRouter public-app inference activity (Inference demand — OpenRouter), listed BDC pricing relative to investment-grade credit (BDCs vs investment-grade credit), leading foundry demand represented by TSMC monthly revenue (TSMC monthly revenue)</li>\n<li>▼ Bearish: US equity breadth relative to capitalization-weighted equities (Equal-weight vs cap-weight S&amp;P), META quarterly EPS execution versus consensus (Meta earnings surprise), listed data-centre landlord pricing relative to the broad market (Data-centre landlords vs S&amp;P 500), public-market pricing of the AI-power cohort relative to the broad market (AI power names vs S&amp;P 500)</li>\n<li>◆ Mixed: public-credit risk appetite relevant to AI-buildout financing (High-yield vs investment-grade credit), GOOGL quarterly EPS execution versus consensus (Alphabet earnings surprise), GPU rental-provider pricing power (GPU rental availability)</li>\n<li>⊘ No read: AI event odds, GPU resale values, GPU spot vs contract pricing, H100 spot rental price, US AI policy events, N. Virginia power basis, PJM electricity demand, PJM day-ahead vs real-time prices, Data-centre power capacity delivery, Private AI secondary pricing, Korean chip exports</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-28 / 2026-08-30 19:30:21</li>\n<li>interpretation: Up 4.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 4.152</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 127.56</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-28 / 2026-08-30 19:30:21</li>\n<li>interpretation: Up 0.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.56%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.5614</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.83</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-28 / 2026-08-30 19:30:21</li>\n<li>interpretation: Down 3.0% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.95%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -2.949</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 101.09</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-28 / 2026-08-30 19:30:21</li>\n<li>interpretation: Front VIX at 0.83× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.826.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8255</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-08-27 20:28:51</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-03 / 2026-08-26 11:40:35</li>\n<li>interpretation: AVGO beat consensus EPS by 1.7%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>Alphabet earnings surprise — ◆ Mixed</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-22 / 2026-08-30 23:10:57</li>\n<li>interpretation: GOOGL beat consensus EPS by 216.3%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-24 11:39:37</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-29 21:40:26</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA beat consensus EPS by 5.7%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-08-25 13:09:40</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-28 / 2026-08-30 19:30:21</li>\n<li>interpretation: Down 5.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.21%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -5.213</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 113.79</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-28 / 2026-08-30 19:30:21</li>\n<li>interpretation: Up 9.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 9.58%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 9.576</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 92.16</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-28 / 2026-08-30 19:30:21</li>\n<li>interpretation: Up 24.8% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 24.81%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 24.81</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 106.65</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-28 / 2026-08-30 19:30:21</li>\n<li>interpretation: Down 2.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.146</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 96.3</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-30 / 2026-08-30 21:13:55</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-29 / 2026-08-30 21:32:25</li>\n<li>interpretation: Up 26.2% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 26.23%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 26.23</li>\n<li>top_n: 100</li>\n<li>total_requests: 2055890881</li>\n<li>total_tokens: 131237247510564</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-28 / 2026-08-30 19:30:21</li>\n<li>interpretation: Up 5.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 5.713</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 107.06</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-30 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-30</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-30</td><td class=\"num\">737,724</td><td class=\"num\">23</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-30</td><td class=\"num\">1,631,567</td><td class=\"num\">23</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-30</td><td class=\"num\">2,277,129</td><td class=\"num\">23</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">41.89</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">44.2</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">40.28</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.566</li>\n<li>as of: 2026-08-30</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-08-28</td><td class=\"num\">34.74</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">1.283</td><td class=\"num\">-0.4961</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<p>No capital-structure fact has been analyst-confirmed.</p>\n<h3>Confirmed debt issuance by quarter</h3>\n<p>Unavailable: no analyst-confirmed, quantified debt issuance is available.</p>\n<h3>Exact maturity wall</h3>\n<p>Unavailable: no analyst-confirmed amount with an exact maturity date is available.</p>\n<p>These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>debt maturities</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>capital expenditures</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>senior unsecured notes</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>debt maturities, refinance</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: …pport AI models and related cloud-based services, including building and expanding datacenters, acquiring necessary components, and securing energy resources. These investments are being made at significant scale and on an accelerated timeline, require substantial and increasing capital expenditures and continued access to capital, and are in advance of fully developed revenue streams. The associated revenue may not be realized in the expected timeframes or at expected levels. Our capital and operational investments are complex and involve projects in multiple locations aro… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. 42 PART II Item 7 Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $76.8 billion and $94.6 billion as of June 30, 2026… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: …, 2026, were as follows: Remainder of 2027 2028 2029 2030 2031 2032 and thereafter Total (In billions) Supply and capacity $ 92 $ 87 $ 88 $ 6 $ 5 $ 1 $ 279 Cloud service agreements 3 8 7 6 4 1 29 Data center leases not commenced — 1 1 2 1 20 25 Equity investments 18 3 2 2 — — 25 Capital expenditures 7 1 — — — — 8 Total $ 120 $ 100 $ 98 $ 16 $ 10 $ 22 $ 366 Supply and capacity – We have partnered with our extensive network to secure the necessary supply and critical components needed to meet demand for the next several years, increasing supply commitments from $ 119 billion… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: …3.70 % Notes Due 2060 33.7 3.73 % 500 500 Unamortized debt discount and issuance costs ( 134 ) ( 32 ) Net carrying amount $ 33,366 $ 8,468 Less short-term portion ( 1,000 ) ( 999 ) Total long-term portion $ 32,366 $ 7,469 In June 2026, we issued an aggregate of $ 25.0 billion of senior unsecured notes across seven tranches for general corporate purposes. As of July 26, 2026, and January 25, 2026, the estimated fair value of debt was $ 31.4 billion and $ 7.5 billion, respectively. The estimated fair values are based on Level 2 inputs. Our notes are unsecured senior obligations… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_refinancing_maturity</strong>: …as not significant for the second quarter and first half of fiscal year 2027. Outstanding Indebtedness and Commercial Paper Program In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes. Our aggregate debt maturities as of July 26, 2026, by year payable, were as follows: Jul 26, 2026 (In millions) Due in one year $ 1,000 Due in one to five years 15,000 Due in five to ten years 7,500 Due in greater than ten years 10,000 Unamortized debt discount and issuance costs (134) Net carrying amount $… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>▲ Bullish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Up 4.2% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — public-credit risk appetite relevant to AI-buildout financing</strong> (High-yield vs investment-grade credit, Near term): Up 0.6% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>▼ Bearish — US equity breadth relative to capitalization-weighted equities</strong> (Equal-weight vs cap-weight S&amp;P, Near term): Down 3.0% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.83× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 5.2% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (Hyperscalers vs S&amp;P 500, Near term): Up 9.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market</strong> (Neoclouds vs S&amp;P 500, Near term): Up 24.8% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 2.1% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 26.2% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — listed BDC pricing relative to investment-grade credit</strong> (BDCs vs investment-grade credit, Near term): Up 5.7% over the last 30 days. Wrong if: A 30-day move through the opposite 1.5% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 5.2% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 26.2% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<p>No open opportunities.</p>\n<h3>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Settled (trailing 30d — hits, misses, kills, unresolvables at parity) table\" tabindex=\"0\"><table><caption>Settled (trailing 30d — hits, misses, kills, unresolvables at parity)</caption><thead><tr>\n<th scope=\"col\">setup class</th><th scope=\"col\">instrument</th><th scope=\"col\">status</th><th scope=\"col\">settled at</th><th scope=\"col\">calibration</th>\n</tr></thead><tbody>\n<tr><td>FADE_FORCED_FLOW</td><td>DXYZ</td><td>killed</td><td>2026-08-30 23:03:29</td><td>Not yet graded (0 settled calls)</td></tr>\n</tbody></table></div>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-08-31 16:17:34</td><td>2026-08-31 16:17:34</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">6</td><td>2026-08-30 22:59:09</td><td>2026-08-28 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-08-30 22:20:21</td><td>—</td><td>head unchanged since last anchor (seq=2)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-08-31 00:15:56</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-08-30 23:10:57</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-08-31 00:03:26</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-08-29 23:18:03</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">181</td><td>2026-08-31 21:37:30</td><td>2026-08-31 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2114</td><td>2026-08-31 00:03:27</td><td>2026-08-30 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">722</td><td>2026-08-31 20:26:35</td><td>2026-08-31 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">215</td><td>2026-08-31 15:54:54</td><td>2026-08-31 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-08-31 21:38:27</td><td>2026-09-01 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788212308</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-08-31 21:00:08</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-08-31 19:27:20</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-08-31 20:05:29</td><td>2026-08-30 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-08-31 16:36:04</td><td>2026-08-31 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-08-30 22:10:05</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-08-31 19:18:23</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-08-31T22:10:02Z",
      "id": "urn:prexel:issue:d28e7533-1315-5702-aa07-6f83d0b34d4e",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 8 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-30-daily-0fd23282bdf8.html"
    },
    {
      "_prexel": {
        "content_hash": "0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d",
        "context_hash": "50eff3e0a6598911861f4654fcb102a400f97b1c568ac54cb78987bee7d0343a",
        "kind": "daily",
        "period_end": "2026-08-29"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-22 05:57:30.836000 · correction <code>2682d718b62dae3339a653b5a64d3f24a7d9bf7c6277360d6298cc3712d0949c</code> · hash <code>b02b568b9deed031e66c5cc57ea1a72f8f73b80bcc010fa6b30b72087fefea87</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-20 13:53:45.522000 · correction <code>065afd98e4f6968098cdfb467bda81a466d607c13ce4821cb7ab047a4cd49dd5</code> · hash <code>ef60f87b87b94ae93bd529efd0608a59735245bf0992dffd365f12555c1a16b8</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-18 04:22:05.085000 · correction <code>92a819afcf8ebeb6a1b27381a17bcd99d62ecca16705befd6e3d0778867d516f</code> · hash <code>d2f18592be7d7e9fd10527b818d23ceab8e65916a5040e00e2aaf843043a912b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>0182be499f63c5b68e80ee9a65c2542793e5d156471bb7bae72d11bde25c068d</code> · effective 2026-09-15 06:40:47.848000 · correction <code>c0f4a48ffbcabe0e89f67daa1adc0ba3616c9d77d6785585724b5356bacdf8bc</code> · hash <code>8624de383a1825527197ad802f724a7b002c0133524e12391ad047e46d3df595</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 7 (daily)</h1>\n<p>Period: 2026-08-29 → 2026-08-29</p>\n<p>Context hash: <code>50eff3e0a6598911861f4654fcb102a400f97b1c568ac54cb78987bee7d0343a</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (23 available, 11 unavailable)</li>\n<li>▲ Bullish: semiconductor equity leadership relative to the broad US market (Semiconductors vs S&amp;P 500), near-term public-market risk appetite (VIX term structure), AMD quarterly EPS execution versus consensus (AMD earnings surprise), AMZN quarterly EPS execution versus consensus (Amazon earnings surprise), AVGO quarterly EPS execution versus consensus (Broadcom earnings surprise), MSFT quarterly EPS execution versus consensus (Microsoft earnings surprise), NVDA quarterly EPS execution versus consensus (NVIDIA earnings surprise), ORCL quarterly EPS execution versus consensus (Oracle earnings surprise), landlord pricing power in Northern Virginia colocation (Colo asking rents — N. Virginia), delivered wholesale colocation capacity in Northern Virginia (Colo capacity delivered — N. Virginia), landlord pricing power in Northern Virginia colocation (Colo vacancy — N. Virginia), public-market pricing of the hyperscaler cohort relative to the broad market (Hyperscalers vs S&amp;P 500), public-market pricing of the neocloud cohort relative to the broad market (Neoclouds vs S&amp;P 500), OpenRouter public-app inference activity (Inference demand — OpenRouter), listed BDC pricing relative to investment-grade credit (BDCs vs investment-grade credit), leading foundry demand represented by TSMC monthly revenue (TSMC monthly revenue)</li>\n<li>▼ Bearish: US equity breadth relative to capitalization-weighted equities (Equal-weight vs cap-weight S&amp;P), META quarterly EPS execution versus consensus (Meta earnings surprise), listed data-centre landlord pricing relative to the broad market (Data-centre landlords vs S&amp;P 500)</li>\n<li>◆ Mixed: public-credit risk appetite relevant to AI-buildout financing (High-yield vs investment-grade credit), GOOGL quarterly EPS execution versus consensus (Alphabet earnings surprise), public-market pricing of the AI-power cohort relative to the broad market (AI power names vs S&amp;P 500), GPU rental-provider pricing power (GPU rental availability)</li>\n<li>⊘ No read: AI event odds, GPU resale values, GPU spot vs contract pricing, H100 spot rental price, US AI policy events, N. Virginia power basis, PJM electricity demand, PJM day-ahead vs real-time prices, Data-centre power capacity delivery, Private AI secondary pricing, Korean chip exports</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 1</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 3.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.46%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 3.462</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 131.81</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.7143</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.63</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.25%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -2.249</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 101.19</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Front VIX at 0.83× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.826.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8263</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-08-27 20:28:51</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-03 / 2026-08-26 11:40:35</li>\n<li>interpretation: AVGO beat consensus EPS by 1.7%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>Alphabet earnings surprise — ◆ Mixed</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-22 / 2026-08-22 09:28:36</li>\n<li>interpretation: GOOGL beat consensus EPS by 216.3%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-24 11:39:37</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-21 00:08:51</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA beat consensus EPS by 5.7%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-08-25 13:09:40</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Down 3.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.48%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -3.485</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 117.74</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 8.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.21%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 8.207</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 90.44</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 17.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 17.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 17.74</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 112.94</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Down 1.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.90%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -1.898</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 99.02</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-27 18:14:37</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-26 / 2026-08-27 20:18:20</li>\n<li>interpretation: Up 30.1% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 30.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 30.06</li>\n<li>top_n: 100</li>\n<li>total_requests: 2019133307</li>\n<li>total_tokens: 124532610236548</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.92%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 3.917</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 106.47</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-27</td><td class=\"num\">930,771</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-27</td><td class=\"num\">1,781,639</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-27</td><td class=\"num\">2,655,684</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">64.15</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">88.29</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">60.36</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.403</li>\n<li>as of: 2026-08-27</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-08-28</td><td class=\"num\">34.74</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">1.283</td><td class=\"num\">-0.4961</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<p>No capital-structure fact has been analyst-confirmed.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>debt maturities</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>capital expenditures</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>senior unsecured notes</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>debt maturities, refinance</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: …pport AI models and related cloud-based services, including building and expanding datacenters, acquiring necessary components, and securing energy resources. These investments are being made at significant scale and on an accelerated timeline, require substantial and increasing capital expenditures and continued access to capital, and are in advance of fully developed revenue streams. The associated revenue may not be realized in the expected timeframes or at expected levels. Our capital and operational investments are complex and involve projects in multiple locations aro… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. 42 PART II Item 7 Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $76.8 billion and $94.6 billion as of June 30, 2026… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: …, 2026, were as follows: Remainder of 2027 2028 2029 2030 2031 2032 and thereafter Total (In billions) Supply and capacity $ 92 $ 87 $ 88 $ 6 $ 5 $ 1 $ 279 Cloud service agreements 3 8 7 6 4 1 29 Data center leases not commenced — 1 1 2 1 20 25 Equity investments 18 3 2 2 — — 25 Capital expenditures 7 1 — — — — 8 Total $ 120 $ 100 $ 98 $ 16 $ 10 $ 22 $ 366 Supply and capacity – We have partnered with our extensive network to secure the necessary supply and critical components needed to meet demand for the next several years, increasing supply commitments from $ 119 billion… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: …3.70 % Notes Due 2060 33.7 3.73 % 500 500 Unamortized debt discount and issuance costs ( 134 ) ( 32 ) Net carrying amount $ 33,366 $ 8,468 Less short-term portion ( 1,000 ) ( 999 ) Total long-term portion $ 32,366 $ 7,469 In June 2026, we issued an aggregate of $ 25.0 billion of senior unsecured notes across seven tranches for general corporate purposes. As of July 26, 2026, and January 25, 2026, the estimated fair value of debt was $ 31.4 billion and $ 7.5 billion, respectively. The estimated fair values are based on Level 2 inputs. Our notes are unsecured senior obligations… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_refinancing_maturity</strong>: …as not significant for the second quarter and first half of fiscal year 2027. Outstanding Indebtedness and Commercial Paper Program In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes. Our aggregate debt maturities as of July 26, 2026, by year payable, were as follows: Jul 26, 2026 (In millions) Due in one year $ 1,000 Due in one to five years 15,000 Due in five to ten years 7,500 Due in greater than ten years 10,000 Unamortized debt discount and issuance costs (134) Net carrying amount $… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>▲ Bullish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Up 3.5% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — public-credit risk appetite relevant to AI-buildout financing</strong> (High-yield vs investment-grade credit, Near term): Up 0.7% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>▼ Bearish — US equity breadth relative to capitalization-weighted equities</strong> (Equal-weight vs cap-weight S&amp;P, Near term): Down 2.2% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.83× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 3.5% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (Hyperscalers vs S&amp;P 500, Near term): Up 8.2% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market</strong> (Neoclouds vs S&amp;P 500, Near term): Up 17.7% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 1.9% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 30.1% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — listed BDC pricing relative to investment-grade credit</strong> (BDCs vs investment-grade credit, Near term): Up 3.9% over the last 30 days. Wrong if: A 30-day move through the opposite 1.5% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 3.5% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 30.1% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<h3>Open opportunities</h3>\n<p>| setup class | instrument | dir | entry window end | horizon d | calibration | kill condition |</p>\n<p>|---|---|---|---|---|---|---|</p>\n<p>| FADE_FORCED_FLOW | DXYZ | -1 | 2026-08-22 | 20 | Not yet graded (0 settled calls) | aib_silver.cef_nav_daily (fund=DXYZ) row with non-null premium_z and |premium_z| &lt;= 1.0, dated after the trigger&#x27;s known_at date and on/before the settlement date -&gt; killed |</p>\n<p>Every monitored setup renders its stored calibration state and pre-registered kill condition. It is not a recommendation.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-08-30 15:58:12</td><td>2026-08-30 15:58:12</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">6</td><td>2026-08-29 21:47:47</td><td>2026-08-28 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">1</td><td>2026-08-29 22:20:03</td><td>—</td><td>—</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-08-30 01:44:55</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-08-29 21:40:26</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-08-29 23:18:02</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-08-29 23:18:03</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">181</td><td>2026-08-30 21:17:44</td><td>2026-08-30 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2078</td><td>2026-08-28 22:24:49</td><td>2026-08-27 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">692</td><td>2026-08-30 19:30:21</td><td>2026-08-28 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">238</td><td>2026-08-30 15:54:01</td><td>2026-08-30 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-08-30 21:18:03</td><td>2026-08-31 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788124685</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-08-30 20:23:09</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-08-30 20:36:26</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-08-30 21:32:23</td><td>2026-08-29 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-08-30 16:44:46</td><td>2026-08-31 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-08-29 22:10:07</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-08-30 18:11:45</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-08-30T22:10:06Z",
      "id": "urn:prexel:issue:d9e9a37a-0c1e-5456-8da6-0fb65cffebc8",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 7 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-29-daily-0182be499f63.html"
    },
    {
      "_prexel": {
        "content_hash": "1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b",
        "context_hash": "fa8684bb52a73c015243db6b442203f572e8ece79857979c8b5a3d6a8882f860",
        "kind": "daily",
        "period_end": "2026-08-28"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-22 05:57:30.836000 · correction <code>b755f4097b84b95fb347db8fe26bce5015299bc1bc8185399cecf244f18e2963</code> · hash <code>e6795f3a535720092e3a3f8a2b18bb626fb29fddb9a42d9cc40ffe686e1bb1d6</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-20 13:53:45.522000 · correction <code>29a0f1613e62f4dd13b8e1ecaf9c5d273f0311f1bcfdf87fef7461b0b688e40e</code> · hash <code>ca957ce4cd028fbae4d5c9fea589823a8d3689cab9272253ffe6213c0ea2629b</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-18 04:22:05.085000 · correction <code>52b6e9fa28b2e1da82429a4aba0d70f2602ed5cda07f31fda128258b49cd150a</code> · hash <code>d8a4eca4fb08f1f29b1ef7e8e161fb05f0face75d25e2f09682d3bb12186d69b</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>1916e2fa15395121e251f8aa35b14d56d4262671eda9077114f7b2cb8ffa957b</code> · effective 2026-09-15 06:40:47.848000 · correction <code>7c4407a3136195298216d3ee2c57ffeb4f01976b707905c21ad685115cd12ab0</code> · hash <code>7523c8c539083529f488ab7a8e6ff70be9d047eb40b1a8892c38827941039f26</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 6 (daily)</h1>\n<p>Period: 2026-08-28 → 2026-08-28</p>\n<p>Context hash: <code>fa8684bb52a73c015243db6b442203f572e8ece79857979c8b5a3d6a8882f860</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (23 available, 11 unavailable)</li>\n<li>▲ Bullish: semiconductor equity leadership relative to the broad US market (Semiconductors vs S&amp;P 500), near-term public-market risk appetite (VIX term structure), AMD quarterly EPS execution versus consensus (AMD earnings surprise), AMZN quarterly EPS execution versus consensus (Amazon earnings surprise), AVGO quarterly EPS execution versus consensus (Broadcom earnings surprise), MSFT quarterly EPS execution versus consensus (Microsoft earnings surprise), NVDA quarterly EPS execution versus consensus (NVIDIA earnings surprise), ORCL quarterly EPS execution versus consensus (Oracle earnings surprise), landlord pricing power in Northern Virginia colocation (Colo asking rents — N. Virginia), delivered wholesale colocation capacity in Northern Virginia (Colo capacity delivered — N. Virginia), landlord pricing power in Northern Virginia colocation (Colo vacancy — N. Virginia), public-market pricing of the hyperscaler cohort relative to the broad market (Hyperscalers vs S&amp;P 500), public-market pricing of the neocloud cohort relative to the broad market (Neoclouds vs S&amp;P 500), OpenRouter public-app inference activity (Inference demand — OpenRouter), listed BDC pricing relative to investment-grade credit (BDCs vs investment-grade credit), leading foundry demand represented by TSMC monthly revenue (TSMC monthly revenue)</li>\n<li>▼ Bearish: US equity breadth relative to capitalization-weighted equities (Equal-weight vs cap-weight S&amp;P), META quarterly EPS execution versus consensus (Meta earnings surprise), listed data-centre landlord pricing relative to the broad market (Data-centre landlords vs S&amp;P 500)</li>\n<li>◆ Mixed: public-credit risk appetite relevant to AI-buildout financing (High-yield vs investment-grade credit), GOOGL quarterly EPS execution versus consensus (Alphabet earnings surprise), public-market pricing of the AI-power cohort relative to the broad market (AI power names vs S&amp;P 500), GPU rental-provider pricing power (GPU rental availability)</li>\n<li>⊘ No read: AI event odds, GPU resale values, GPU spot vs contract pricing, H100 spot rental price, US AI policy events, N. Virginia power basis, PJM electricity demand, PJM day-ahead vs real-time prices, Data-centre power capacity delivery, Private AI secondary pricing, Korean chip exports</li>\n<li>Open cross-domain events: 0</li>\n<li>Filed capital-structure candidates (trailing 90d): 5</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 1</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 3.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.46%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 3.462</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 131.81</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 0.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.71%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.7143</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.63</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ▼ Bearish</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Down 2.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.25%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: -2.249</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 101.19</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Front VIX at 0.83× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.826.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8263</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-08-27 20:28:51</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-03 / 2026-08-26 11:40:35</li>\n<li>interpretation: AVGO beat consensus EPS by 1.7%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>Alphabet earnings surprise — ◆ Mixed</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-22 / 2026-08-22 09:28:36</li>\n<li>interpretation: GOOGL beat consensus EPS by 216.3%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-24 11:39:37</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-21 00:08:51</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA beat consensus EPS by 5.7%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-08-25 13:09:40</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Down 3.5% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -3.48%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -3.485</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 117.74</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 8.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 8.21%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 8.207</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 90.44</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 17.7% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 17.74%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 17.74</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 112.94</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ◆ Mixed</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Down 1.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -1.90%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -1.898</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 99.02</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-27 18:14:37</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-26 / 2026-08-27 20:18:20</li>\n<li>interpretation: Up 30.1% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 30.06%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 30.06</li>\n<li>top_n: 100</li>\n<li>total_requests: 2019133307</li>\n<li>total_tokens: 124532610236548</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-28 20:09:40</li>\n<li>interpretation: Up 3.9% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 3.92%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 3.917</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 106.47</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-27 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-27</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-27</td><td class=\"num\">930,771</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-27</td><td class=\"num\">1,781,639</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-27</td><td class=\"num\">2,655,684</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">64.15</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">88.29</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">60.36</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.403</li>\n<li>as of: 2026-08-27</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-08-28</td><td class=\"num\">34.74</td><td class=\"num\">34.3</td><td>2026-06-30</td><td class=\"num\">1.283</td><td class=\"num\">-0.4961</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<p>No open cross-domain events.</p>\n<h3>Recently resolved (trailing 14d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Recently resolved (trailing 14d) table\" tabindex=\"0\"><table><caption>Recently resolved (trailing 14d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">domains</th><th scope=\"col\">resolved</th><th scope=\"col\">resolution</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>capital_markets+supply_chain</td><td>2026-08-28 21:24:52</td><td>The registered relationship no longer holds.</td></tr>\n</tbody></table></div>\n<h2>Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<p>No capital-structure fact has been analyst-confirmed.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>debt maturities</td></tr>\n<tr><td>NVIDIA</td><td>capex_commitment</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>capital expenditures</td></tr>\n<tr><td>NVIDIA</td><td>debt_issuance</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>senior unsecured notes</td></tr>\n<tr><td>NVIDIA</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-Q</td><td>2026-08-26 20:36:00</td><td>debt maturities, refinance</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: …pport AI models and related cloud-based services, including building and expanding datacenters, acquiring necessary components, and securing energy resources. These investments are being made at significant scale and on an accelerated timeline, require substantial and increasing capital expenditures and continued access to capital, and are in advance of fully developed revenue streams. The associated revenue may not be realized in the expected timeframes or at expected levels. Our capital and operational investments are complex and involve projects in multiple locations aro… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. 42 PART II Item 7 Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $76.8 billion and $94.6 billion as of June 30, 2026… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · capex_commitment</strong>: …, 2026, were as follows: Remainder of 2027 2028 2029 2030 2031 2032 and thereafter Total (In billions) Supply and capacity $ 92 $ 87 $ 88 $ 6 $ 5 $ 1 $ 279 Cloud service agreements 3 8 7 6 4 1 29 Data center leases not commenced — 1 1 2 1 20 25 Equity investments 18 3 2 2 — — 25 Capital expenditures 7 1 — — — — 8 Total $ 120 $ 100 $ 98 $ 16 $ 10 $ 22 $ 366 Supply and capacity – We have partnered with our extensive network to secure the necessary supply and critical components needed to meet demand for the next several years, increasing supply commitments from $ 119 billion… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_issuance</strong>: …3.70 % Notes Due 2060 33.7 3.73 % 500 500 Unamortized debt discount and issuance costs ( 134 ) ( 32 ) Net carrying amount $ 33,366 $ 8,468 Less short-term portion ( 1,000 ) ( 999 ) Total long-term portion $ 32,366 $ 7,469 In June 2026, we issued an aggregate of $ 25.0 billion of senior unsecured notes across seven tranches for general corporate purposes. As of July 26, 2026, and January 25, 2026, the estimated fair value of debt was $ 31.4 billion and $ 7.5 billion, respectively. The estimated fair values are based on Level 2 inputs. Our notes are unsecured senior obligations… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>NVIDIA · debt_refinancing_maturity</strong>: …as not significant for the second quarter and first half of fiscal year 2027. Outstanding Indebtedness and Commercial Paper Program In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes. Our aggregate debt maturities as of July 26, 2026, by year payable, were as follows: Jul 26, 2026 (In millions) Due in one year $ 1,000 Due in one to five years 15,000 Due in five to ten years 7,500 Due in greater than ten years 10,000 Unamortized debt discount and issuance costs (134) Net carrying amount $… <a href=\"https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>▲ Bullish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Up 3.5% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — public-credit risk appetite relevant to AI-buildout financing</strong> (High-yield vs investment-grade credit, Near term): Up 0.7% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>▼ Bearish — US equity breadth relative to capitalization-weighted equities</strong> (Equal-weight vs cap-weight S&amp;P, Near term): Down 2.2% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.83× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 3.5% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (Hyperscalers vs S&amp;P 500, Near term): Up 8.2% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market</strong> (Neoclouds vs S&amp;P 500, Near term): Up 17.7% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 1.9% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 30.1% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — listed BDC pricing relative to investment-grade credit</strong> (BDCs vs investment-grade credit, Near term): Up 3.9% over the last 30 days. Wrong if: A 30-day move through the opposite 1.5% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 3.5% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 30.1% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<h3>Open opportunities</h3>\n<p>| setup class | instrument | dir | entry window end | horizon d | calibration | kill condition |</p>\n<p>|---|---|---|---|---|---|---|</p>\n<p>| FADE_FORCED_FLOW | DXYZ | -1 | 2026-08-22 | 20 | Not yet graded (0 settled calls) | aib_silver.cef_nav_daily (fund=DXYZ) row with non-null premium_z and |premium_z| &lt;= 1.0, dated after the trigger&#x27;s known_at date and on/before the settlement date -&gt; killed |</p>\n<p>Every monitored setup renders its stored calibration state and pre-registered kill condition. It is not a recommendation.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-08-29 20:18:26</td><td>2026-08-29 20:18:26</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">6</td><td>2026-08-29 21:47:47</td><td>2026-08-28 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">0</td><td>2026-08-28 22:20:05</td><td>—</td><td>head unchanged since last anchor (seq=1)</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-08-28 22:56:48</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-08-29 21:40:26</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-08-28 22:24:48</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">2</td><td>2026-08-27 21:28:14</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">184</td><td>2026-08-29 21:55:07</td><td>2026-08-29 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2078</td><td>2026-08-28 22:24:49</td><td>2026-08-27 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">717</td><td>2026-08-29 17:49:57</td><td>2026-08-28 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">225</td><td>2026-08-29 20:26:00</td><td>2026-08-29 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-08-29 21:42:20</td><td>2026-08-30 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1788039741</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-08-29 18:07:00</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-08-29 20:52:49</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-08-29 22:07:04</td><td>2026-08-28 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-08-29 18:06:40</td><td>2026-08-31 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-08-28 22:10:15</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-08-29 18:54:27</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-08-29T22:10:07Z",
      "id": "urn:prexel:issue:33a3ea79-1577-5c14-9f79-6ae366756c74",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 6 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-28-daily-1916e2fa1539.html"
    },
    {
      "_prexel": {
        "content_hash": "cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc",
        "context_hash": "0a07a09a554ab7ce54b85982f1cf70a43f60bac404c088aa58d7973078c9d7e6",
        "kind": "daily",
        "period_end": "2026-08-27"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-22 05:57:30.836000 · correction <code>b3859cfbf9359960d10fbd7932f14796073f6fda9932b02bed366497a3736c07</code> · hash <code>a554607cfa6fd74fb26213b438ae665f73c6e4143ed7b680012157389a946118</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-20 13:53:45.522000 · correction <code>97eddaa25b8d82f97acfbc7f17f291a6d034d76909d6ed126ce1760cf8e39eb0</code> · hash <code>637dff044cc95c3164be46e592c6562a47c4c1a3e9425eef1937507db5c74b82</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-18 04:22:05.085000 · correction <code>3226b59142d0717feb4fa05c47dd42235476560ddf82e364bb9ff0a4b66b0149</code> · hash <code>f525e3aa94ac9762f0cb8035e38176e62d1c14f89e591364872818ef19468469</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>cbd3bab7852c663972d7e3dfebe1e69adf8f7f7ef25adfa36c1cd845a5a72dbc</code> · effective 2026-09-15 06:40:47.848000 · correction <code>4cbc5a6b045b65125c42d3c48caf256fe8d65ac5b61882008396c604a0e246e0</code> · hash <code>0bd6777a1736f896a849f115abbd3da55592b860acca4c2556985c58854f594e</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 5 (daily)</h1>\n<p>Period: 2026-08-27 → 2026-08-27</p>\n<p>Context hash: <code>0a07a09a554ab7ce54b85982f1cf70a43f60bac404c088aa58d7973078c9d7e6</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (23 available, 11 unavailable)</li>\n<li>▲ Bullish: near-term public-market risk appetite (VIX term structure), AMD quarterly EPS execution versus consensus (AMD earnings surprise), AMZN quarterly EPS execution versus consensus (Amazon earnings surprise), AVGO quarterly EPS execution versus consensus (Broadcom earnings surprise), MSFT quarterly EPS execution versus consensus (Microsoft earnings surprise), NVDA quarterly EPS execution versus consensus (NVIDIA earnings surprise), ORCL quarterly EPS execution versus consensus (Oracle earnings surprise), landlord pricing power in Northern Virginia colocation (Colo asking rents — N. Virginia), delivered wholesale colocation capacity in Northern Virginia (Colo capacity delivered — N. Virginia), landlord pricing power in Northern Virginia colocation (Colo vacancy — N. Virginia), public-market pricing of the hyperscaler cohort relative to the broad market (Hyperscalers vs S&amp;P 500), public-market pricing of the neocloud cohort relative to the broad market (Neoclouds vs S&amp;P 500), OpenRouter public-app inference activity (Inference demand — OpenRouter), listed BDC pricing relative to investment-grade credit (BDCs vs investment-grade credit), leading foundry demand represented by TSMC monthly revenue (TSMC monthly revenue)</li>\n<li>▼ Bearish: semiconductor equity leadership relative to the broad US market (Semiconductors vs S&amp;P 500), META quarterly EPS execution versus consensus (Meta earnings surprise), listed data-centre landlord pricing relative to the broad market (Data-centre landlords vs S&amp;P 500), public-market pricing of the AI-power cohort relative to the broad market (AI power names vs S&amp;P 500)</li>\n<li>◆ Mixed: public-credit risk appetite relevant to AI-buildout financing (High-yield vs investment-grade credit), US equity breadth relative to capitalization-weighted equities (Equal-weight vs cap-weight S&amp;P), GOOGL quarterly EPS execution versus consensus (Alphabet earnings surprise), GPU rental-provider pricing power (GPU rental availability)</li>\n<li>⊘ No read: AI event odds, GPU resale values, GPU spot vs contract pricing, H100 spot rental price, US AI policy events, N. Virginia power basis, PJM electricity demand, PJM day-ahead vs real-time prices, Data-centre power capacity delivery, Private AI secondary pricing, Korean chip exports</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 2</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 1</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Down 5.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -5.341</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 129.45</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.33%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.3295</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.57</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.25%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.2512</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 102.05</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.848.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8484</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-08-20 09:53:02</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-03 / 2026-08-26 11:40:35</li>\n<li>interpretation: AVGO beat consensus EPS by 1.7%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>Alphabet earnings surprise — ◆ Mixed</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-22 / 2026-08-22 09:28:36</li>\n<li>interpretation: GOOGL beat consensus EPS by 216.3%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-24 11:39:37</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-21 00:08:51</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA beat consensus EPS by 5.7%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-08-25 13:09:40</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Down 6.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.638</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 117.87</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 10.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 10.12%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 10.12</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 90.35</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 12.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 12.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 12.15</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 116.59</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Down 9.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -9.60%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -9.602</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 98.14</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-25 21:32:40</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:58</li>\n<li>interpretation: Up 27.6% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 27.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 27.64</li>\n<li>top_n: 100</li>\n<li>total_requests: 1977647577</li>\n<li>total_tokens: 119977463236887</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 5.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 5.065</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 106.81</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-25</td><td class=\"num\">882,857</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-25</td><td class=\"num\">1,801,178</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-25</td><td class=\"num\">2,397,086</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">54.38</td><td class=\"num\">0</td><td>—</td><td class=\"num\">35.48</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">70.07</td><td class=\"num\">0</td><td>—</td><td class=\"num\">51.17</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">52.51</td><td class=\"num\">0</td><td>—</td><td class=\"num\">33.61</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.648</li>\n<li>as of: 2026-08-25</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-08-25</td><td class=\"num\">34.65</td><td class=\"num\">24.56</td><td>2026-03-31</td><td class=\"num\">41.08</td><td class=\"num\">1.493</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-08-22 12:25:41</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<p>No capital-structure fact has been analyst-confirmed.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>debt maturities</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: …pport AI models and related cloud-based services, including building and expanding datacenters, acquiring necessary components, and securing energy resources. These investments are being made at significant scale and on an accelerated timeline, require substantial and increasing capital expenditures and continued access to capital, and are in advance of fully developed revenue streams. The associated revenue may not be realized in the expected timeframes or at expected levels. Our capital and operational investments are complex and involve projects in multiple locations aro… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. 42 PART II Item 7 Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $76.8 billion and $94.6 billion as of June 30, 2026… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>▼ Bearish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Down 5.3% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — public-credit risk appetite relevant to AI-buildout financing</strong> (High-yield vs investment-grade credit, Near term): Up 0.3% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>◆ Mixed — US equity breadth relative to capitalization-weighted equities</strong> (Equal-weight vs cap-weight S&amp;P, Near term): Up 0.2% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.85× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 6.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (Hyperscalers vs S&amp;P 500, Near term): Up 10.1% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market</strong> (Neoclouds vs S&amp;P 500, Near term): Up 12.2% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 9.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 27.6% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — listed BDC pricing relative to investment-grade credit</strong> (BDCs vs investment-grade credit, Near term): Up 5.1% over the last 30 days. Wrong if: A 30-day move through the opposite 1.5% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 6.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 27.6% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<h3>Open opportunities</h3>\n<p>| setup class | instrument | dir | entry window end | horizon d | calibration | kill condition |</p>\n<p>|---|---|---|---|---|---|---|</p>\n<p>| FADE_FORCED_FLOW | DXYZ | -1 | 2026-08-22 | 20 | Not yet graded (0 settled calls) | aib_silver.cef_nav_daily (fund=DXYZ) row with non-null premium_z and |premium_z| &lt;= 1.0, dated after the trigger&#x27;s known_at date and on/before the settlement date -&gt; killed |</p>\n<p>Every monitored setup renders its stored calibration state and pre-registered kill condition. It is not a recommendation.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-08-28 18:39:17</td><td>2026-08-28 18:39:17</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-08-28 21:53:38</td><td>2026-08-28 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>ok</td><td class=\"num\">1</td><td>2026-08-28 10:11:00</td><td>—</td><td>—</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-08-27 21:21:58</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-08-28 21:45:35</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">2</td><td>2026-08-27 21:28:13</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">2</td><td>2026-08-27 21:28:14</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">178</td><td>2026-08-28 22:04:32</td><td>2026-08-28 22:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2022</td><td>2026-08-26 19:44:11</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">722</td><td>2026-08-28 20:09:40</td><td>2026-08-28 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">209</td><td>2026-08-28 19:21:34</td><td>2026-08-28 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-08-28 21:30:49</td><td>2026-08-29 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1787952651</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">0</td><td>2026-08-28 16:42:27</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-08-28 20:21:09</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>error</td><td class=\"num\">0</td><td>2026-08-28 20:35:16</td><td>2026-08-26 00:00:00</td><td>APIError: API error 408: Request Timeout</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-08-28 19:51:14</td><td>2026-08-27 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-08-27 22:10:03</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-08-28 19:11:20</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: openrouter_activity</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-08-28T22:10:15Z",
      "id": "urn:prexel:issue:137abc42-e169-58b0-b198-e5aa592e66d3",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 5 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-27-daily-cbd3bab7852c.html"
    },
    {
      "_prexel": {
        "content_hash": "021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206",
        "context_hash": "b69bac5c58204c7bdad86331661a2e674f591fced74a5687643e8cf8a347129b",
        "kind": "daily",
        "period_end": "2026-08-26"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-22 05:57:30.836000 · correction <code>e6a56d0ce4ddaa3c758cdfc726d006ef7f86070dddd3b5bf73af66a494e19d17</code> · hash <code>73deb0707d6fda393a5b05bb579c972056e8ff1102d5fa9fd831201644f55e9a</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-20 13:53:45.522000 · correction <code>d231481fe608bc8af5a77f9889e816922fe0371992c147f06625ec6d42b93175</code> · hash <code>143d35173b58b98e514d2aef7706a65a4430fac4db1882791485c0a086d9a65a</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-18 04:22:05.085000 · correction <code>abfd91af1aa3c78e02bc3ee836c1a29df76775c0c961979e762a9ae951f29cf7</code> · hash <code>e84545dd54a44bb89cbf70496401c233b59e931ebaaf74c402c96b05274bdd2c</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>021135f8ad7727749bfcf1c80657a64b856e44a077037c9da3a0361b3d89f206</code> · effective 2026-09-15 06:40:47.848000 · correction <code>fb5f71c052507245d2b48095ff2b19105dd6815357c79cc6cc594026a3151c6f</code> · hash <code>cfd37e089b097d549da444eb7b11c5cc673cd4dec888847215c85521bee5cc36</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 4 (daily)</h1>\n<p>Period: 2026-08-26 → 2026-08-26</p>\n<p>Context hash: <code>b69bac5c58204c7bdad86331661a2e674f591fced74a5687643e8cf8a347129b</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (23 available, 11 unavailable)</li>\n<li>▲ Bullish: near-term public-market risk appetite (VIX term structure), AMD quarterly EPS execution versus consensus (AMD earnings surprise), AMZN quarterly EPS execution versus consensus (Amazon earnings surprise), AVGO quarterly EPS execution versus consensus (Broadcom earnings surprise), MSFT quarterly EPS execution versus consensus (Microsoft earnings surprise), NVDA quarterly EPS execution versus consensus (NVIDIA earnings surprise), ORCL quarterly EPS execution versus consensus (Oracle earnings surprise), landlord pricing power in Northern Virginia colocation (Colo asking rents — N. Virginia), delivered wholesale colocation capacity in Northern Virginia (Colo capacity delivered — N. Virginia), landlord pricing power in Northern Virginia colocation (Colo vacancy — N. Virginia), public-market pricing of the hyperscaler cohort relative to the broad market (Hyperscalers vs S&amp;P 500), public-market pricing of the neocloud cohort relative to the broad market (Neoclouds vs S&amp;P 500), OpenRouter public-app inference activity (Inference demand — OpenRouter), listed BDC pricing relative to investment-grade credit (BDCs vs investment-grade credit), leading foundry demand represented by TSMC monthly revenue (TSMC monthly revenue)</li>\n<li>▼ Bearish: semiconductor equity leadership relative to the broad US market (Semiconductors vs S&amp;P 500), META quarterly EPS execution versus consensus (Meta earnings surprise), listed data-centre landlord pricing relative to the broad market (Data-centre landlords vs S&amp;P 500), public-market pricing of the AI-power cohort relative to the broad market (AI power names vs S&amp;P 500)</li>\n<li>◆ Mixed: public-credit risk appetite relevant to AI-buildout financing (High-yield vs investment-grade credit), US equity breadth relative to capitalization-weighted equities (Equal-weight vs cap-weight S&amp;P), GOOGL quarterly EPS execution versus consensus (Alphabet earnings surprise), GPU rental-provider pricing power (GPU rental availability)</li>\n<li>⊘ No read: AI event odds, GPU resale values, GPU spot vs contract pricing, H100 spot rental price, US AI policy events, N. Virginia power basis, PJM electricity demand, PJM day-ahead vs real-time prices, Data-centre power capacity delivery, Private AI secondary pricing, Korean chip exports</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 2</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 1</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>Semiconductors vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: semiconductor equity leadership relative to the broad US market</li>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Down 5.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -5.341</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 129.45</li>\n</ul>\n</ul>\n<h3>High-yield vs investment-grade credit — ◆ Mixed</h3>\n<ul>\n<li>subject: public-credit risk appetite relevant to AI-buildout financing</li>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 0.3% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.33%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.3295</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.57</li>\n</ul>\n</ul>\n<h3>Equal-weight vs cap-weight S&amp;P — ◆ Mixed</h3>\n<ul>\n<li>subject: US equity breadth relative to capitalization-weighted equities</li>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 0.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.25%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.2512</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 102.05</li>\n</ul>\n</ul>\n<h3>VIX term structure — ▲ Bullish</h3>\n<ul>\n<li>subject: near-term public-market risk appetite</li>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain: Capital markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Front VIX at 0.85× the 3-month tenor.</li>\n<li>evidence: VIX/VIX3M: 0.848.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8484</li>\n</ul>\n</ul>\n<h3>AI event odds — ⊘ No read</h3>\n<ul>\n<li>subject: market-implied probability of registered AI-buildout events</li>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: not enough event history yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMD quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-08-04 / 2026-08-20 09:53:02</li>\n<li>interpretation: AMD beat consensus EPS by 23.0%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>Amazon earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AMZN quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN beat consensus EPS by 2.7%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>Broadcom earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: AVGO quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-03 / 2026-08-26 11:40:35</li>\n<li>interpretation: AVGO beat consensus EPS by 1.7%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>Alphabet earnings surprise — ◆ Mixed</h3>\n<ul>\n<li>subject: GOOGL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-22 / 2026-08-22 09:28:36</li>\n<li>interpretation: GOOGL beat consensus EPS by 216.3%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; extreme value — needs review; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>Meta earnings surprise — ▼ Bearish</h3>\n<ul>\n<li>subject: META quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-24 11:39:37</li>\n<li>interpretation: META missed consensus EPS by 13.0%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>Microsoft earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: MSFT quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-07-29 / 2026-08-21 00:08:51</li>\n<li>interpretation: MSFT beat consensus EPS by 12.6%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVIDIA earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: NVDA quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA beat consensus EPS by 5.7%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>Oracle earnings surprise — ▲ Bullish</h3>\n<ul>\n<li>subject: ORCL quarterly EPS execution versus consensus</li>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain: Catalysts</li>\n<li>horizon: Reported quarter</li>\n<li>data through / published: 2026-06-10 / 2026-08-25 13:09:40</li>\n<li>interpretation: ORCL beat consensus EPS by 13.3%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li>data quality: company-specific event; free-tier source</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>Colo asking rents — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Asking rents at $212.50/kW-month and rising.</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>Colo capacity delivered — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: delivered wholesale colocation capacity in Northern Virginia</li>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: 1,136 MW added year over year and rising.</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>Data-centre landlords vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: listed data-centre landlord pricing relative to the broad market</li>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Down 6.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.638</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 117.87</li>\n</ul>\n</ul>\n<h3>Colo vacancy — N. Virginia — ▲ Bullish</h3>\n<ul>\n<li>subject: landlord pricing power in Northern Virginia colocation</li>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain: Colocation</li>\n<li>horizon: Quarterly</li>\n<li>data through / published: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Vacancy at 0.3% and falling.</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The next market report showing the metric moving the other way.</li>\n<li>data quality: dated public research; not a continuous feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>Hyperscalers vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the hyperscaler cohort relative to the broad market</li>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 10.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 10.12%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 10.12</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 90.35</li>\n</ul>\n</ul>\n<h3>Neoclouds vs S&amp;P 500 — ▲ Bullish</h3>\n<ul>\n<li>subject: public-market pricing of the neocloud cohort relative to the broad market</li>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 12.2% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 12.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 12.15</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 116.59</li>\n</ul>\n</ul>\n<h3>AI power names vs S&amp;P 500 — ▼ Bearish</h3>\n<ul>\n<li>subject: public-market pricing of the AI-power cohort relative to the broad market</li>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain: Company exposure</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Down 9.6% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: -9.60%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 2.0% threshold.</li>\n<li>data quality: correlation, not exposure evidence; price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -9.602</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 98.14</li>\n</ul>\n</ul>\n<h3>GPU rental availability — ◆ Mixed</h3>\n<ul>\n<li>subject: GPU rental-provider pricing power</li>\n<li>chart: <code>compute_availability</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-25 21:32:40</li>\n<li>interpretation: GPU capacity listed as available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Marketplace availability flipping to the opposite state.</li>\n<li>data quality: advertised prices, not closed deals</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU resale values — ⊘ No read</h3>\n<ul>\n<li>subject: GPU asset residual values</li>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: Medium term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: secondary-market data not yet available</li>\n<li>data quality: source not yet wired</li>\n</ul>\n<h3>GPU spot vs contract pricing — ⊘ No read</h3>\n<ul>\n<li>subject: near-term GPU rental pricing</li>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: not enough term-structure history yet</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>H100 spot rental price — ⊘ No read</h3>\n<ul>\n<li>subject: H100 rental-provider pricing power</li>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: spot-price trend not yet available</li>\n<li>data quality: advertised prices, not closed deals</li>\n</ul>\n<h3>Inference demand — OpenRouter — ▲ Bullish</h3>\n<ul>\n<li>subject: OpenRouter public-app inference activity</li>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain: Compute</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:58</li>\n<li>interpretation: Up 27.6% over the last seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 27.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: The activity trend crossing the opposite 2% threshold.</li>\n<li>data quality: token counts differ across models; public apps only; rolling 30-day window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 27.64</li>\n<li>top_n: 100</li>\n<li>total_requests: 1977647577</li>\n<li>total_tokens: 119977463236887</li>\n</ul>\n</ul>\n<h3>US AI policy events — ⊘ No read</h3>\n<ul>\n<li>subject: US policy impact on AI-buildout beneficiaries and constraints</li>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: policy documents not yet classified for impact</li>\n<li>data quality: none</li>\n</ul>\n<h3>N. Virginia power basis — ⊘ No read</h3>\n<ul>\n<li>subject: Northern Virginia data-centre power economics</li>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: power-basis data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — ⊘ No read</h3>\n<ul>\n<li>subject: PJM electricity demand</li>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: load baseline still accumulating (needs 28 days)</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM day-ahead vs real-time prices — ⊘ No read</h3>\n<ul>\n<li>subject: near-term PJM electricity demand</li>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: day-ahead/real-time price data not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h3>Data-centre power capacity delivery — ⊘ No read</h3>\n<ul>\n<li>subject: AI data-centre capacity delivery</li>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: Structural</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: Capacity filings not yet wired in.</li>\n<li>reasons: capacity filings not yet wired in</li>\n<li>data quality: data plane not yet built</li>\n</ul>\n<h3>BDCs vs investment-grade credit — ▲ Bullish</h3>\n<ul>\n<li>subject: listed BDC pricing relative to investment-grade credit</li>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain: Private markets</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: Up 5.1% over the last 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: A 30-day move through the opposite 1.5% threshold.</li>\n<li>data quality: price action, not fundamentals</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 5.065</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 106.81</li>\n</ul>\n</ul>\n<h3>Private AI secondary pricing — ⊘ No read</h3>\n<ul>\n<li>subject: private AI-company secondary-market pricing</li>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: Tracked, but no qualifying data yet.</li>\n<li>reasons: no direct private-market marks yet</li>\n<li>data quality: none</li>\n</ul>\n<h3>TSMC monthly revenue — ▲ Bullish</h3>\n<ul>\n<li>subject: leading foundry demand represented by TSMC monthly revenue</li>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain: Supply chain</li>\n<li>horizon: Near term</li>\n<li>data through / published: 2026-08-25 / 2026-08-16 16:00:00</li>\n<li>interpretation: Up 44.7% over the last year.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>What would change this call: Year-over-year growth crossing zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean chip exports — ⊘ No read</h3>\n<ul>\n<li>subject: Korean semiconductor export demand</li>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: Near term</li>\n<li>data through: 2026-08-25</li>\n<li>why no read: No qualifying data yet.</li>\n<li>reasons: monthly growth figure not yet available</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-25</td><td class=\"num\">882,857</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-25</td><td class=\"num\">1,801,178</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-25</td><td class=\"num\">2,397,086</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">54.38</td><td class=\"num\">0</td><td>—</td><td class=\"num\">35.48</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">70.07</td><td class=\"num\">0</td><td>—</td><td class=\"num\">51.17</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">52.51</td><td class=\"num\">0</td><td>—</td><td class=\"num\">33.61</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.648</li>\n<li>as of: 2026-08-25</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-08-25</td><td class=\"num\">34.65</td><td class=\"num\">24.56</td><td>2026-03-31</td><td class=\"num\">41.08</td><td class=\"num\">1.493</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-08-22 12:25:41</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Filed Capital-Structure Review</h2>\n<p>Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.</p>\n<h3>Confirmed facts</h3>\n<p>No capital-structure fact has been analyst-confirmed.</p>\n<h3>Pending review</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Pending review table\" tabindex=\"0\"><table><caption>Pending review</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">candidate type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>debt maturities</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: …pport AI models and related cloud-based services, including building and expanding datacenters, acquiring necessary components, and securing energy resources. These investments are being made at significant scale and on an accelerated timeline, require substantial and increasing capital expenditures and continued access to capital, and are in advance of fully developed revenue streams. The associated revenue may not be realized in the expected timeframes or at expected levels. Our capital and operational investments are complex and involve projects in multiple locations aro… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. 42 PART II Item 7 Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $76.8 billion and $94.6 billion as of June 30, 2026… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>▼ Bearish — semiconductor equity leadership relative to the broad US market</strong> (Semiconductors vs S&amp;P 500, Near term): Down 5.3% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — public-credit risk appetite relevant to AI-buildout financing</strong> (High-yield vs investment-grade credit, Near term): Up 0.3% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>◆ Mixed — US equity breadth relative to capitalization-weighted equities</strong> (Equal-weight vs cap-weight S&amp;P, Near term): Up 0.2% over the last 30 days. Wrong if: A 30-day move through the opposite 1.0% threshold.</li>\n<li><strong>▲ Bullish — near-term public-market risk appetite</strong> (VIX term structure, Near term): Front VIX at 0.85× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.</li>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 6.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (Hyperscalers vs S&amp;P 500, Near term): Up 10.1% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — public-market pricing of the neocloud cohort relative to the broad market</strong> (Neoclouds vs S&amp;P 500, Near term): Up 12.2% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market</strong> (AI power names vs S&amp;P 500, Near term): Down 9.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 27.6% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — listed BDC pricing relative to investment-grade credit</strong> (BDCs vs investment-grade credit, Near term): Up 5.1% over the last 30 days. Wrong if: A 30-day move through the opposite 1.5% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>▲ Bullish — AMD quarterly EPS execution versus consensus</strong> (AMD earnings surprise, Reported quarter): AMD beat consensus EPS by 23.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AMZN quarterly EPS execution versus consensus</strong> (Amazon earnings surprise, Reported quarter): AMZN beat consensus EPS by 2.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — AVGO quarterly EPS execution versus consensus</strong> (Broadcom earnings surprise, Reported quarter): AVGO beat consensus EPS by 1.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>◆ Mixed — GOOGL quarterly EPS execution versus consensus</strong> (Alphabet earnings surprise, Reported quarter): GOOGL beat consensus EPS by 216.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▼ Bearish — META quarterly EPS execution versus consensus</strong> (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — MSFT quarterly EPS execution versus consensus</strong> (Microsoft earnings surprise, Reported quarter): MSFT beat consensus EPS by 12.6%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — NVDA quarterly EPS execution versus consensus</strong> (NVIDIA earnings surprise, Reported quarter): NVDA beat consensus EPS by 5.7%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — ORCL quarterly EPS execution versus consensus</strong> (Oracle earnings surprise, Reported quarter): ORCL beat consensus EPS by 13.3%. Wrong if: Next quarter&#x27;s EPS surprise landing on the other side of ±1%.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo asking rents — N. Virginia, Quarterly): Asking rents at $212.50/kW-month and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▲ Bullish — delivered wholesale colocation capacity in Northern Virginia</strong> (Colo capacity delivered — N. Virginia, Quarterly): 1,136 MW added year over year and rising. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>▼ Bearish — listed data-centre landlord pricing relative to the broad market</strong> (Data-centre landlords vs S&amp;P 500, Near term): Down 6.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.</li>\n<li><strong>▲ Bullish — landlord pricing power in Northern Virginia colocation</strong> (Colo vacancy — N. Virginia, Quarterly): Vacancy at 0.3% and falling. Wrong if: The next market report showing the metric moving the other way.</li>\n<li><strong>◆ Mixed — GPU rental-provider pricing power</strong> (GPU rental availability, Near term): GPU capacity listed as available. Wrong if: Marketplace availability flipping to the opposite state.</li>\n<li><strong>▲ Bullish — OpenRouter public-app inference activity</strong> (Inference demand — OpenRouter, Near term): Up 27.6% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.</li>\n<li><strong>▲ Bullish — leading foundry demand represented by TSMC monthly revenue</strong> (TSMC monthly revenue, Near term): Up 44.7% over the last year. Wrong if: Year-over-year growth crossing zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<h3>Open opportunities</h3>\n<p>| setup class | instrument | dir | entry window end | horizon d | calibration | kill condition |</p>\n<p>|---|---|---|---|---|---|---|</p>\n<p>| FADE_FORCED_FLOW | DXYZ | -1 | 2026-08-22 | 20 | Not yet graded (0 settled calls) | aib_silver.cef_nav_daily (fund=DXYZ) row with non-null premium_z and |premium_z| &lt;= 1.0, dated after the trigger&#x27;s known_at date and on/before the settlement date -&gt; killed |</p>\n<p>Every monitored setup renders its stored calibration state and pre-registered kill condition. It is not a recommendation.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-08-27 19:49:31</td><td>2026-08-27 19:49:31</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">7</td><td>2026-08-27 21:35:31</td><td>2026-08-27 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>error</td><td class=\"num\">0</td><td>2026-08-26 22:20:05</td><td>—</td><td>chain verification failed at seq=1: row_hash mismatch — stored content was altered</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-08-27 21:21:58</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">4</td><td>2026-08-27 20:28:51</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">2</td><td>2026-08-27 21:28:13</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">2</td><td>2026-08-27 21:28:14</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">175</td><td>2026-08-27 21:57:25</td><td>2026-08-27 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2022</td><td>2026-08-26 19:44:11</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">697</td><td>2026-08-27 20:08:40</td><td>2026-08-27 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">204</td><td>2026-08-27 19:14:37</td><td>2026-08-27 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-08-27 21:30:17</td><td>2026-08-28 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1787866218</td></tr>\n<tr><td>korea_exports</td><td>skipped</td><td class=\"num\">0</td><td>2026-08-27 18:38:46</td><td>2026-08-20 00:00:00</td><td>korea customs unreachable/unavailable and no item-trade row: Request failed: Server disconnected without sending a response.</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-08-27 19:11:39</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-08-27 20:18:19</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-08-27 18:37:07</td><td>2026-08-27 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-08-26 22:10:07</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-08-27 19:02:32</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): korea_exports</li>\n<li>Errored last run: chain_anchor</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-08-27T22:10:03Z",
      "id": "urn:prexel:issue:4a827801-cf4e-5f8a-9f73-6f98cc1d71fa",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 4 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-26-daily-021135f8ad77.html"
    },
    {
      "_prexel": {
        "content_hash": "50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b",
        "context_hash": "0803ffec434bcaa94747249bda07ce1b76f930bd3c2fd47660f18fb2eaeb6978",
        "kind": "daily",
        "period_end": "2026-08-25"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>4 distinct notices · 4 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-22 05:57:30.836000 · correction <code>d514cdb0b02ba57f5992e368a3871648b1e0319122d46d34a43ee5af01698c39</code> · hash <code>cb58f38d8b8f2e8967fb8507bc192538bd42eb9f39b5521016cd9a2c854573e8</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-20 13:53:45.522000 · correction <code>d234b56b1873ec297590109b4afbdf2eb360fbc81e3ab7508c58384dea00f3d5</code> · hash <code>c40a682b6ccb36c1f84b25c4fa58fd9a6de370ec903c1e7c621b3d7bf38f780c</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The DXYZ FADE_FORCED_FLOW setup is withdrawn because its FT_CEF_NAV trigger was invalidated. Any original open/killed state, direction or capacity is historical and is not a valid current setup or performance observation.</li>\n</ul>\n<p>Replacement record: <code>{&quot;capacity_usd&quot;:null,&quot;instrument&quot;:&quot;DXYZ&quot;,&quot;setup_class&quot;:&quot;FADE_FORCED_FLOW&quot;,&quot;status&quot;:&quot;withdrawn&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-18 04:22:05.085000 · correction <code>f506537c580d7966004b221f338ceb40aade25d61805ee7a34ffb181304f1ff4</code> · hash <code>af6fd0437a739f996d62fec9780c122ee1c8cfa11da09c61b47b39950911b819</code></li>\n<ul>\n<li>Evidence: <code>reviews/mission-drift-2026-09-18/REVIEW.md</code></li>\n<li>Evidence: <code>forced_flow_event:e587d540-b100-53fc-a672-8866755504c6</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>50974ec6e8f4d52b4411d251ba2331fdfcea81109bd9293754e62938b33fdc4b</code> · effective 2026-09-15 06:40:47.848000 · correction <code>ff52079c80c42e1b78fa44e0c6cb1c7815b5ed268c981ad503a783ce38e4e249</code> · hash <code>93baf362b46f811f0d45dc312a3184d75a4005b974110a867b7505a5345628fe</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 3 (daily)</h1>\n<p>Period: 2026-08-25 → 2026-08-25</p>\n<p>Context hash: <code>0803ffec434bcaa94747249bda07ce1b76f930bd3c2fd47660f18fb2eaeb6978</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (23 available, 11 unavailable)</li>\n<li>Bullish: near-term public-market risk appetite (capital_markets.volatility_term_structure), AMD quarterly EPS execution versus consensus (catalysts.earnings_surprise_amd), AMZN quarterly EPS execution versus consensus (catalysts.earnings_surprise_amzn), AVGO quarterly EPS execution versus consensus (catalysts.earnings_surprise_avgo), MSFT quarterly EPS execution versus consensus (catalysts.earnings_surprise_msft), NVDA quarterly EPS execution versus consensus (catalysts.earnings_surprise_nvda), ORCL quarterly EPS execution versus consensus (catalysts.earnings_surprise_orcl), landlord pricing power in Northern Virginia colocation (colo_market.asking_rates), delivered wholesale colocation capacity in Northern Virginia (colo_market.capacity_delivery), landlord pricing power in Northern Virginia colocation (colo_market.vacancy), public-market pricing of the hyperscaler cohort relative to the broad market (company_exposure.hyperscaler_relative_price), public-market pricing of the neocloud cohort relative to the broad market (company_exposure.neocloud_relative_price), OpenRouter public-app inference activity (compute_market.inference_demand), listed BDC pricing relative to investment-grade credit (private_markets.private_credit_canary), leading foundry demand represented by TSMC monthly revenue (supply_chain.foundry_demand)</li>\n<li>Bearish: semiconductor equity leadership relative to the broad US market (capital_markets.ai_equity_sentiment), META quarterly EPS execution versus consensus (catalysts.earnings_surprise_meta), listed data-centre landlord pricing relative to the broad market (colo_market.public_landlord_sentiment), public-market pricing of the AI-power cohort relative to the broad market (company_exposure.power_cohort_relative_price)</li>\n<li>Mixed: public-credit risk appetite relevant to AI-buildout financing (capital_markets.credit_risk_appetite), US equity breadth relative to capitalization-weighted equities (capital_markets.market_breadth), GOOGL quarterly EPS execution versus consensus (catalysts.earnings_surprise_googl), GPU rental-provider pricing power (compute_market.gpu_availability)</li>\n<li>Unavailable charts: catalysts.ai_event_probability, compute_market.gpu_residual_value, compute_market.gpu_tenor_divergence, compute_market.h100_spot_pricing, policy.us_ai_policy_impact, power.nova_power_congestion, power.pjm_load_anomaly, power.pjm_load_forecast_surprise, power.power_capacity_delivery, private_markets.private_secondary_discount, supply_chain.memory_export_demand</li>\n<li>Open cross-domain events: 1</li>\n<li>Filed capital-structure candidates (trailing 90d): 2</li>\n<li>Forced-flow events (trailing 30d): 1</li>\n<li>Open monitored opportunities: 1</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>semiconductor equity leadership relative to the broad US market — BEARISH</h3>\n<ul>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain / observation: capital_markets / ai_equity_sentiment</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: The registered relative-price chart changed -5.34% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -5.34%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -5.341</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 129.45</li>\n</ul>\n</ul>\n<h3>public-credit risk appetite relevant to AI-buildout financing — MIXED</h3>\n<ul>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain / observation: capital_markets / credit_risk_appetite</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: The registered relative-price chart changed 0.33% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.33%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.3295</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.57</li>\n</ul>\n</ul>\n<h3>US equity breadth relative to capitalization-weighted equities — MIXED</h3>\n<ul>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain / observation: capital_markets / market_breadth</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: The registered relative-price chart changed 0.25% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.25%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.2512</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 102.05</li>\n</ul>\n</ul>\n<h3>near-term public-market risk appetite — BULLISH</h3>\n<ul>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain / observation: capital_markets / volatility_term_structure</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: VIX/VIX3M is 0.848.</li>\n<li>evidence: VIX/VIX3M: 0.848.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: VIX/VIX3M crosses the opposite registered 0.95/1.05 band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8484</li>\n</ul>\n</ul>\n<h3>market-implied probability of registered AI-buildout events — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: stable_event_history_insufficient</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain / observation: catalysts / earnings_surprise_amd</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-08-04 / 2026-08-20 09:53:02</li>\n<li>interpretation: AMD reported EPS surprise was 22.96%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>AMZN quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain / observation: catalysts / earnings_surprise_amzn</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN reported EPS surprise was 2.73%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>AVGO quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain / observation: catalysts / earnings_surprise_avgo</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-06-03 / 2026-08-26 11:40:35</li>\n<li>interpretation: AVGO reported EPS surprise was 1.67%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>GOOGL quarterly EPS execution versus consensus — MIXED</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain / observation: catalysts / earnings_surprise_googl</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-22 / 2026-08-22 09:28:36</li>\n<li>interpretation: GOOGL reported EPS surprise was 216.32%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, extreme_surprise_requires_review, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>META quarterly EPS execution versus consensus — BEARISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain / observation: catalysts / earnings_surprise_meta</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-29 / 2026-08-24 11:39:37</li>\n<li>interpretation: META reported EPS surprise was -12.96%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>MSFT quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain / observation: catalysts / earnings_surprise_msft</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-29 / 2026-08-21 00:08:51</li>\n<li>interpretation: MSFT reported EPS surprise was 12.59%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVDA quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain / observation: catalysts / earnings_surprise_nvda</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA reported EPS surprise was 5.65%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>ORCL quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain / observation: catalysts / earnings_surprise_orcl</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-06-10 / 2026-08-25 13:09:40</li>\n<li>interpretation: ORCL reported EPS surprise was 13.29%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>landlord pricing power in Northern Virginia colocation — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain / observation: colo_market / asking_rates</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased).</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>delivered wholesale colocation capacity in Northern Virginia — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain / observation: colo_market / capacity_delivery</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased).</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>listed data-centre landlord pricing relative to the broad market — BEARISH</h3>\n<ul>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain / observation: colo_market / public_landlord_sentiment</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: The registered relative-price chart changed -6.64% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.638</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 117.87</li>\n</ul>\n</ul>\n<h3>landlord pricing power in Northern Virginia colocation — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain / observation: colo_market / vacancy</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia vacancy_pct was 0.3 pct (decreased).</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>public-market pricing of the hyperscaler cohort relative to the broad market — BULLISH</h3>\n<ul>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain / observation: company_exposure / hyperscaler_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: The registered relative-price chart changed 10.12% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 10.12%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 10.12</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 90.35</li>\n</ul>\n</ul>\n<h3>public-market pricing of the neocloud cohort relative to the broad market — BULLISH</h3>\n<ul>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain / observation: company_exposure / neocloud_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: The registered relative-price chart changed 12.15% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 12.15%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 12.15</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 116.59</li>\n</ul>\n</ul>\n<h3>public-market pricing of the AI-power cohort relative to the broad market — BEARISH</h3>\n<ul>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain / observation: company_exposure / power_cohort_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: The registered relative-price chart changed -9.60% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -9.60%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -9.602</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 98.14</li>\n</ul>\n</ul>\n<h3>GPU rental-provider pricing power — MIXED</h3>\n<ul>\n<li>chart: <code>compute_availability</code></li>\n<li>domain / observation: compute_market / gpu_availability</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-25 21:32:40</li>\n<li>interpretation: Listed GPU capacity is available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: Marketplace availability moves into the opposite registered state.</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU asset residual values — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: medium_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: secondary_market_unavailable</li>\n<li>data quality: source_not_implemented</li>\n</ul>\n<h3>near-term GPU rental pricing — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: tenor_history_unavailable</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n</ul>\n<h3>H100 rental-provider pricing power — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: spot_trend_unavailable</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n</ul>\n<h3>OpenRouter public-app inference activity — BULLISH</h3>\n<ul>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>domain / observation: compute_market / inference_demand</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:58</li>\n<li>interpretation: Top-100 rolling-window token activity changed 27.64% over seven snapshots.</li>\n<li>evidence: Seven-snapshot token-activity change: 27.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The seven-snapshot activity change crosses the opposite 2% band.</li>\n<li>data quality: cross_model_tokens_not_comparable, public_apps_only, rolling_30d_window</li>\n<li>metrics:</li>\n<ul>\n<li>token_change_7d_pct: 27.64</li>\n<li>top_n: 100</li>\n<li>total_requests: 1977647577</li>\n<li>total_tokens: 119977463236887</li>\n</ul>\n</ul>\n<h3>US policy impact on AI-buildout beneficiaries and constraints — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: document_impact_not_classified</li>\n<li>data quality: none</li>\n</ul>\n<h3>Northern Virginia data-centre power economics — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: dc_basis_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: dc_load_anomaly_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>near-term PJM electricity demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: da_rt_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI data-centre capacity delivery — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: structural</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: Filed capacity, interconnection, equipment, and labour evidence is not wired.</li>\n<li>reason codes: filed_capacity_inputs_unavailable</li>\n<li>data quality: plane_not_implemented</li>\n</ul>\n<h3>listed BDC pricing relative to investment-grade credit — BULLISH</h3>\n<ul>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain / observation: private_markets / private_credit_canary</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-26 19:43:55</li>\n<li>interpretation: The registered relative-price chart changed 5.07% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.07%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.5% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 5.065</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 106.81</li>\n</ul>\n</ul>\n<h3>private AI-company secondary-market pricing — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: direct_private_marks_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>leading foundry demand represented by TSMC monthly revenue — BULLISH</h3>\n<ul>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain / observation: supply_chain / foundry_demand</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-25 / 2026-08-16 16:00:00</li>\n<li>interpretation: Published year-on-year growth is 44.69%.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next published year-on-year growth rate crosses zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean semiconductor export demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-25</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: monthly_growth_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-25</td><td class=\"num\">882,857</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-25</td><td class=\"num\">1,801,178</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-25</td><td class=\"num\">2,397,086</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">54.38</td><td class=\"num\">0</td><td>—</td><td class=\"num\">35.48</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">70.07</td><td class=\"num\">0</td><td>—</td><td class=\"num\">51.17</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">52.51</td><td class=\"num\">0</td><td>—</td><td class=\"num\">33.61</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.648</li>\n<li>as of: 2026-08-25</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"CEF NAV premium (latest per fund) table\" tabindex=\"0\"><table><caption>CEF NAV premium (latest per fund)</caption><thead><tr>\n<th scope=\"col\">fund</th><th scope=\"col\">as of</th><th scope=\"col\">price</th><th scope=\"col\">NAV/share</th><th scope=\"col\">NAV effective</th><th scope=\"col\">premium %</th><th scope=\"col\">premium z</th>\n</tr></thead><tbody>\n<tr><td>DXYZ</td><td>2026-08-25</td><td class=\"num\">34.65</td><td class=\"num\">24.56</td><td>2026-03-31</td><td class=\"num\">41.08</td><td class=\"num\">1.493</td></tr>\n</tbody></table></div>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-08-22 12:25:41</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Filed Capital-Structure Candidates</h2>\n<p>These are deterministic primary-filing text matches for analyst review. They are not confirmed transactions, directional labels, or recommendations.</p>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Filed Capital-Structure Candidates table\" tabindex=\"0\"><table><caption>Filed Capital-Structure Candidates</caption><thead><tr>\n<th scope=\"col\">entity</th><th scope=\"col\">type</th><th scope=\"col\">status</th><th scope=\"col\">form</th><th scope=\"col\">known at</th><th scope=\"col\">matched terms</th>\n</tr></thead><tbody>\n<tr><td>MICROSOFT</td><td>capex_commitment</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>capital expenditures</td></tr>\n<tr><td>MICROSOFT</td><td>debt_refinancing_maturity</td><td>candidate</td><td>10-K</td><td>2026-07-29 20:08:01</td><td>debt maturities</td></tr>\n</tbody></table></div>\n<ul>\n<li><strong>MICROSOFT · capex_commitment</strong>: …pport AI models and related cloud-based services, including building and expanding datacenters, acquiring necessary components, and securing energy resources. These investments are being made at significant scale and on an accelerated timeline, require substantial and increasing capital expenditures and continued access to capital, and are in advance of fully developed revenue streams. The associated revenue may not be realized in the expected timeframes or at expected levels. Our capital and operational investments are complex and involve projects in multiple locations aro… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n<li><strong>MICROSOFT · debt_refinancing_maturity</strong>: …ect existing cash, cash equivalents, short-term investments, cash flows from operations, and access to capital markets to continue to be sufficient to fund our operating activities and cash commitments for investing and financing activities, such as dividends, share repurchases, debt maturities, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. 42 PART II Item 7 Cash, Cash Equivalents, and Investments Cash, cash equivalents, and short-term investments totaled $76.8 billion and $94.6 billion as of June 30, 2026… <a href=\"https://www.sec.gov/Archives/edgar/data/789019/000119312526323660/msft-20260630.htm\" rel=\"noopener noreferrer\">primary filing</a></li>\n</ul>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>BEARISH — semiconductor equity leadership relative to the broad US market</strong> (<code>capital_markets.ai_equity_sentiment</code>, near_term): The registered relative-price chart changed -5.34% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>MIXED — public-credit risk appetite relevant to AI-buildout financing</strong> (<code>capital_markets.credit_risk_appetite</code>, near_term): The registered relative-price chart changed 0.33% over 30 days. Wrong if: The 30-day change crosses the opposite 1.0% band.</li>\n<li><strong>MIXED — US equity breadth relative to capitalization-weighted equities</strong> (<code>capital_markets.market_breadth</code>, near_term): The registered relative-price chart changed 0.25% over 30 days. Wrong if: The 30-day change crosses the opposite 1.0% band.</li>\n<li><strong>BULLISH — near-term public-market risk appetite</strong> (<code>capital_markets.volatility_term_structure</code>, near_term): VIX/VIX3M is 0.848. Wrong if: VIX/VIX3M crosses the opposite registered 0.95/1.05 band.</li>\n<li><strong>BULLISH — AMD quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amd</code>, reported_quarter): AMD reported EPS surprise was 22.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AMZN quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amzn</code>, reported_quarter): AMZN reported EPS surprise was 2.73%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AVGO quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_avgo</code>, reported_quarter): AVGO reported EPS surprise was 1.67%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>MIXED — GOOGL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_googl</code>, reported_quarter): GOOGL reported EPS surprise was 216.32%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BEARISH — META quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_meta</code>, reported_quarter): META reported EPS surprise was -12.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — MSFT quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_msft</code>, reported_quarter): MSFT reported EPS surprise was 12.59%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — NVDA quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_nvda</code>, reported_quarter): NVDA reported EPS surprise was 5.65%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — ORCL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_orcl</code>, reported_quarter): ORCL reported EPS surprise was 13.29%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.asking_rates</code>, quarterly): Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — delivered wholesale colocation capacity in Northern Virginia</strong> (<code>colo_market.capacity_delivery</code>, quarterly): Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BEARISH — listed data-centre landlord pricing relative to the broad market</strong> (<code>colo_market.public_landlord_sentiment</code>, near_term): The registered relative-price chart changed -6.64% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.vacancy</code>, quarterly): Northern Virginia vacancy_pct was 0.3 pct (decreased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (<code>company_exposure.hyperscaler_relative_price</code>, near_term): The registered relative-price chart changed 10.12% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — public-market pricing of the neocloud cohort relative to the broad market</strong> (<code>company_exposure.neocloud_relative_price</code>, near_term): The registered relative-price chart changed 12.15% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BEARISH — public-market pricing of the AI-power cohort relative to the broad market</strong> (<code>company_exposure.power_cohort_relative_price</code>, near_term): The registered relative-price chart changed -9.60% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>MIXED — GPU rental-provider pricing power</strong> (<code>compute_market.gpu_availability</code>, near_term): Listed GPU capacity is available. Wrong if: Marketplace availability moves into the opposite registered state.</li>\n<li><strong>BULLISH — OpenRouter public-app inference activity</strong> (<code>compute_market.inference_demand</code>, near_term): Top-100 rolling-window token activity changed 27.64% over seven snapshots. Wrong if: The seven-snapshot activity change crosses the opposite 2% band.</li>\n<li><strong>BULLISH — listed BDC pricing relative to investment-grade credit</strong> (<code>private_markets.private_credit_canary</code>, near_term): The registered relative-price chart changed 5.07% over 30 days. Wrong if: The 30-day change crosses the opposite 1.5% band.</li>\n<li><strong>BULLISH — leading foundry demand represented by TSMC monthly revenue</strong> (<code>supply_chain.foundry_demand</code>, near_term): Published year-on-year growth is 44.69%. Wrong if: The next published year-on-year growth rate crosses zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>BULLISH — AMD quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amd</code>, reported_quarter): AMD reported EPS surprise was 22.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AMZN quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amzn</code>, reported_quarter): AMZN reported EPS surprise was 2.73%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AVGO quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_avgo</code>, reported_quarter): AVGO reported EPS surprise was 1.67%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>MIXED — GOOGL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_googl</code>, reported_quarter): GOOGL reported EPS surprise was 216.32%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BEARISH — META quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_meta</code>, reported_quarter): META reported EPS surprise was -12.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — MSFT quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_msft</code>, reported_quarter): MSFT reported EPS surprise was 12.59%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — NVDA quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_nvda</code>, reported_quarter): NVDA reported EPS surprise was 5.65%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — ORCL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_orcl</code>, reported_quarter): ORCL reported EPS surprise was 13.29%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.asking_rates</code>, quarterly): Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — delivered wholesale colocation capacity in Northern Virginia</strong> (<code>colo_market.capacity_delivery</code>, quarterly): Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BEARISH — listed data-centre landlord pricing relative to the broad market</strong> (<code>colo_market.public_landlord_sentiment</code>, near_term): The registered relative-price chart changed -6.64% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.vacancy</code>, quarterly): Northern Virginia vacancy_pct was 0.3 pct (decreased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>MIXED — GPU rental-provider pricing power</strong> (<code>compute_market.gpu_availability</code>, near_term): Listed GPU capacity is available. Wrong if: Marketplace availability moves into the opposite registered state.</li>\n<li><strong>BULLISH — OpenRouter public-app inference activity</strong> (<code>compute_market.inference_demand</code>, near_term): Top-100 rolling-window token activity changed 27.64% over seven snapshots. Wrong if: The seven-snapshot activity change crosses the opposite 2% band.</li>\n<li><strong>BULLISH — leading foundry demand represented by TSMC monthly revenue</strong> (<code>supply_chain.foundry_demand</code>, near_term): Published year-on-year growth is 44.69%. Wrong if: The next published year-on-year growth rate crosses zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<h3>Forced-flow events (trailing 30d)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Forced-flow events (trailing 30d) table\" tabindex=\"0\"><table><caption>Forced-flow events (trailing 30d)</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">instrument</th><th scope=\"col\">direction</th><th scope=\"col\">event date</th><th scope=\"col\">est notional $</th><th scope=\"col\">ADV multiple</th><th scope=\"col\">decay d</th><th scope=\"col\">class</th>\n</tr></thead><tbody>\n<tr><td>FT_CEF_NAV</td><td>DXYZ</td><td>forced_sell</td><td>2026-08-17</td><td class=\"num\">30,450,945.15</td><td class=\"num\">0.9507</td><td class=\"num\">10</td><td>mechanical</td></tr>\n</tbody></table></div>\n<h3>Open opportunities</h3>\n<p>| setup class | instrument | dir | entry window end | horizon d | calibration | kill condition |</p>\n<p>|---|---|---|---|---|---|---|</p>\n<p>| FADE_FORCED_FLOW | DXYZ | -1 | 2026-08-22 | 20 | unrated(n=0) | aib_silver.cef_nav_daily (fund=DXYZ) row with non-null premium_z and |premium_z| &lt;= 1.0, dated after the trigger&#x27;s known_at date and on/before the settlement date -&gt; killed |</p>\n<p>Every monitored setup renders its stored calibration state and pre-registered kill condition. It is not a recommendation.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-08-26 19:43:55</td><td>2026-08-26 19:43:55</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">5</td><td>2026-08-26 19:43:55</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>error</td><td class=\"num\">0</td><td>2026-08-25 22:20:08</td><td>—</td><td>chain verification failed at seq=1: row_hash mismatch — stored content was altered</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-08-26 19:43:55</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">0</td><td>2026-08-26 19:43:55</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>ok</td><td class=\"num\">0</td><td>2026-08-26 19:43:55</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_filing_documents</td><td>ok</td><td class=\"num\">0</td><td>2026-08-26 19:44:00</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">181</td><td>2026-08-26 21:41:00</td><td>2026-08-26 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">2022</td><td>2026-08-26 19:44:11</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">667</td><td>2026-08-26 19:43:55</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">245</td><td>2026-08-26 19:43:54</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-08-26 21:50:42</td><td>2026-08-27 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1787781046</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">1</td><td>2026-08-26 19:43:55</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">11</td><td>2026-08-26 19:43:55</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-08-26 19:43:55</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-08-26 19:43:55</td><td>2026-08-26 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-08-25 22:10:32</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-08-26 19:43:55</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Errored last run: chain_anchor</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or unavailable for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-08-26T22:10:07Z",
      "id": "urn:prexel:issue:598f5208-8243-5568-a1c6-1560bd8a46ed",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 3 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-25-daily-50974ec6e8f4.html"
    },
    {
      "_prexel": {
        "content_hash": "7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda",
        "context_hash": "198ee8728ef5dd421164d16fbf8421109efc9cdec322ea15faa8e89e040bcfe0",
        "kind": "daily",
        "period_end": "2026-08-24"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>3 distinct notices · 3 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-22 05:57:30.836000 · correction <code>f71491175032a9f4234535f8c8509f48631ffc9b01fca2bdd50b8046ceef5455</code> · hash <code>3b7e2741da5ce111c7f69ea2db3d91ea5a406a0395fd306c1944691718d5d434</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-20 13:53:45.522000 · correction <code>8725b49d5e1348c64e4382519074149be9b90e5f4d24ed99769ed604487915f6</code> · hash <code>a2a26c0b3f5004c8618414d020afe55bbf1931df5788c5ae6cceb819058431bf</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>7d6a992041898e2c4b349c2610a901cf32df9471d360bd09b400164b0da51fda</code> · effective 2026-09-15 06:40:47.848000 · correction <code>1b98fa80a8ec33672f2be2d6a555e0d75c3acd09a3cfdc7fb149e0d1b6cf57f3</code> · hash <code>c8e14861f4e0ca8ef9c6c7183ed4b07100348f14bca3a48bf3693dca9a23191d</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 2 (daily)</h1>\n<p>Period: 2026-08-24 → 2026-08-24</p>\n<p>Context hash: <code>198ee8728ef5dd421164d16fbf8421109efc9cdec322ea15faa8e89e040bcfe0</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (22 available, 12 unavailable)</li>\n<li>Bullish: near-term public-market risk appetite (capital_markets.volatility_term_structure), AMD quarterly EPS execution versus consensus (catalysts.earnings_surprise_amd), AMZN quarterly EPS execution versus consensus (catalysts.earnings_surprise_amzn), AVGO quarterly EPS execution versus consensus (catalysts.earnings_surprise_avgo), MSFT quarterly EPS execution versus consensus (catalysts.earnings_surprise_msft), NVDA quarterly EPS execution versus consensus (catalysts.earnings_surprise_nvda), ORCL quarterly EPS execution versus consensus (catalysts.earnings_surprise_orcl), landlord pricing power in Northern Virginia colocation (colo_market.asking_rates), delivered wholesale colocation capacity in Northern Virginia (colo_market.capacity_delivery), landlord pricing power in Northern Virginia colocation (colo_market.vacancy), public-market pricing of the hyperscaler cohort relative to the broad market (company_exposure.hyperscaler_relative_price), public-market pricing of the neocloud cohort relative to the broad market (company_exposure.neocloud_relative_price), listed BDC pricing relative to investment-grade credit (private_markets.private_credit_canary), leading foundry demand represented by TSMC monthly revenue (supply_chain.foundry_demand)</li>\n<li>Bearish: semiconductor equity leadership relative to the broad US market (capital_markets.ai_equity_sentiment), META quarterly EPS execution versus consensus (catalysts.earnings_surprise_meta), listed data-centre landlord pricing relative to the broad market (colo_market.public_landlord_sentiment), public-market pricing of the AI-power cohort relative to the broad market (company_exposure.power_cohort_relative_price)</li>\n<li>Mixed: public-credit risk appetite relevant to AI-buildout financing (capital_markets.credit_risk_appetite), US equity breadth relative to capitalization-weighted equities (capital_markets.market_breadth), GOOGL quarterly EPS execution versus consensus (catalysts.earnings_surprise_googl), GPU rental-provider pricing power (compute_market.gpu_availability)</li>\n<li>Unavailable charts: catalysts.ai_event_probability, compute_market.gpu_residual_value, compute_market.gpu_tenor_divergence, compute_market.h100_spot_pricing, compute_market.inference_demand, policy.us_ai_policy_impact, power.nova_power_congestion, power.pjm_load_anomaly, power.pjm_load_forecast_surprise, power.power_capacity_delivery, private_markets.private_secondary_discount, supply_chain.memory_export_demand</li>\n<li>Open cross-domain events: 1</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>semiconductor equity leadership relative to the broad US market — BEARISH</h3>\n<ul>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain / observation: capital_markets / ai_equity_sentiment</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-25 11:29:06</li>\n<li>interpretation: The registered relative-price chart changed -6.39% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -6.39%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -6.39</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 128.02</li>\n</ul>\n</ul>\n<h3>public-credit risk appetite relevant to AI-buildout financing — MIXED</h3>\n<ul>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain / observation: capital_markets / credit_risk_appetite</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-25 11:29:06</li>\n<li>interpretation: The registered relative-price chart changed 0.69% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.694</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 102.94</li>\n</ul>\n</ul>\n<h3>US equity breadth relative to capitalization-weighted equities — MIXED</h3>\n<ul>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain / observation: capital_markets / market_breadth</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-25 11:29:06</li>\n<li>interpretation: The registered relative-price chart changed 0.64% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.64%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.6437</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 102.45</li>\n</ul>\n</ul>\n<h3>near-term public-market risk appetite — BULLISH</h3>\n<ul>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain / observation: capital_markets / volatility_term_structure</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-25 11:29:06</li>\n<li>interpretation: VIX/VIX3M is 0.854.</li>\n<li>evidence: VIX/VIX3M: 0.854.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: VIX/VIX3M crosses the opposite registered 0.95/1.05 band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.854</li>\n</ul>\n</ul>\n<h3>market-implied probability of registered AI-buildout events — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: stable_event_history_insufficient</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain / observation: catalysts / earnings_surprise_amd</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-08-04 / 2026-08-20 09:53:02</li>\n<li>interpretation: AMD reported EPS surprise was 22.96%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>AMZN quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain / observation: catalysts / earnings_surprise_amzn</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN reported EPS surprise was 2.73%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>AVGO quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain / observation: catalysts / earnings_surprise_avgo</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-06-03 / 2026-08-20 09:53:02</li>\n<li>interpretation: AVGO reported EPS surprise was 1.67%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>GOOGL quarterly EPS execution versus consensus — MIXED</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain / observation: catalysts / earnings_surprise_googl</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-22 / 2026-08-22 09:28:36</li>\n<li>interpretation: GOOGL reported EPS surprise was 216.32%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, extreme_surprise_requires_review, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>META quarterly EPS execution versus consensus — BEARISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain / observation: catalysts / earnings_surprise_meta</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-29 / 2026-08-24 11:39:37</li>\n<li>interpretation: META reported EPS surprise was -12.96%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>MSFT quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain / observation: catalysts / earnings_surprise_msft</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-29 / 2026-08-21 00:08:51</li>\n<li>interpretation: MSFT reported EPS surprise was 12.59%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVDA quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain / observation: catalysts / earnings_surprise_nvda</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA reported EPS surprise was 5.65%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>ORCL quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain / observation: catalysts / earnings_surprise_orcl</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-06-10 / 2026-08-25 13:09:40</li>\n<li>interpretation: ORCL reported EPS surprise was 13.29%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>landlord pricing power in Northern Virginia colocation — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain / observation: colo_market / asking_rates</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased).</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>delivered wholesale colocation capacity in Northern Virginia — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain / observation: colo_market / capacity_delivery</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased).</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>listed data-centre landlord pricing relative to the broad market — BEARISH</h3>\n<ul>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain / observation: colo_market / public_landlord_sentiment</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-25 11:29:06</li>\n<li>interpretation: The registered relative-price chart changed -7.37% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.37%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -7.365</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 116.95</li>\n</ul>\n</ul>\n<h3>landlord pricing power in Northern Virginia colocation — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain / observation: colo_market / vacancy</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia vacancy_pct was 0.3 pct (decreased).</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>public-market pricing of the hyperscaler cohort relative to the broad market — BULLISH</h3>\n<ul>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain / observation: company_exposure / hyperscaler_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-25 11:29:06</li>\n<li>interpretation: The registered relative-price chart changed 9.73% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 9.73%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 9.732</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 90.03</li>\n</ul>\n</ul>\n<h3>public-market pricing of the neocloud cohort relative to the broad market — BULLISH</h3>\n<ul>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain / observation: company_exposure / neocloud_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-25 11:29:06</li>\n<li>interpretation: The registered relative-price chart changed 7.09% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 7.09%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 7.092</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 111.33</li>\n</ul>\n</ul>\n<h3>public-market pricing of the AI-power cohort relative to the broad market — BEARISH</h3>\n<ul>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain / observation: company_exposure / power_cohort_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-25 11:29:06</li>\n<li>interpretation: The registered relative-price chart changed -9.32% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -9.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -9.322</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 98.44</li>\n</ul>\n</ul>\n<h3>GPU rental-provider pricing power — MIXED</h3>\n<ul>\n<li>chart: <code>compute_availability</code></li>\n<li>domain / observation: compute_market / gpu_availability</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-24 21:45:17</li>\n<li>interpretation: Listed GPU capacity is available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: Marketplace availability moves into the opposite registered state.</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU asset residual values — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: medium_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: secondary_market_unavailable</li>\n<li>data quality: source_not_implemented</li>\n</ul>\n<h3>near-term GPU rental pricing — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: tenor_history_unavailable</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n</ul>\n<h3>H100 rental-provider pricing power — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: spot_trend_unavailable</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n</ul>\n<h3>OpenRouter public-app inference activity — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: seven_day_snapshot_history_insufficient</li>\n<li>data quality: panel_not_census, public_apps_only, rolling_30d_window</li>\n</ul>\n<h3>US policy impact on AI-buildout beneficiaries and constraints — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: document_impact_not_classified</li>\n<li>data quality: none</li>\n</ul>\n<h3>Northern Virginia data-centre power economics — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: dc_basis_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: dc_load_anomaly_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>near-term PJM electricity demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: da_rt_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI data-centre capacity delivery — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: structural</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: Filed capacity, interconnection, equipment, and labour evidence is not wired.</li>\n<li>reason codes: filed_capacity_inputs_unavailable</li>\n<li>data quality: plane_not_implemented</li>\n</ul>\n<h3>listed BDC pricing relative to investment-grade credit — BULLISH</h3>\n<ul>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain / observation: private_markets / private_credit_canary</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-25 11:29:06</li>\n<li>interpretation: The registered relative-price chart changed 6.30% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 6.30%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.5% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 6.302</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 108.07</li>\n</ul>\n</ul>\n<h3>private AI-company secondary-market pricing — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: direct_private_marks_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>leading foundry demand represented by TSMC monthly revenue — BULLISH</h3>\n<ul>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain / observation: supply_chain / foundry_demand</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-24 / 2026-08-16 16:00:00</li>\n<li>interpretation: Published year-on-year growth is 44.69%.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next published year-on-year growth rate crosses zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean semiconductor export demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-24</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: monthly_growth_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-24</td><td class=\"num\">853,522</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-24</td><td class=\"num\">1,819,235</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-24</td><td class=\"num\">2,365,812</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">49.77</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">52.6</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">49.29</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.179</li>\n<li>as of: 2026-08-24</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<p>No rows — feed empty or not yet collected.</p>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-08-22 12:25:41</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>BEARISH — semiconductor equity leadership relative to the broad US market</strong> (<code>capital_markets.ai_equity_sentiment</code>, near_term): The registered relative-price chart changed -6.39% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>MIXED — public-credit risk appetite relevant to AI-buildout financing</strong> (<code>capital_markets.credit_risk_appetite</code>, near_term): The registered relative-price chart changed 0.69% over 30 days. Wrong if: The 30-day change crosses the opposite 1.0% band.</li>\n<li><strong>MIXED — US equity breadth relative to capitalization-weighted equities</strong> (<code>capital_markets.market_breadth</code>, near_term): The registered relative-price chart changed 0.64% over 30 days. Wrong if: The 30-day change crosses the opposite 1.0% band.</li>\n<li><strong>BULLISH — near-term public-market risk appetite</strong> (<code>capital_markets.volatility_term_structure</code>, near_term): VIX/VIX3M is 0.854. Wrong if: VIX/VIX3M crosses the opposite registered 0.95/1.05 band.</li>\n<li><strong>BULLISH — AMD quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amd</code>, reported_quarter): AMD reported EPS surprise was 22.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AMZN quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amzn</code>, reported_quarter): AMZN reported EPS surprise was 2.73%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AVGO quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_avgo</code>, reported_quarter): AVGO reported EPS surprise was 1.67%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>MIXED — GOOGL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_googl</code>, reported_quarter): GOOGL reported EPS surprise was 216.32%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BEARISH — META quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_meta</code>, reported_quarter): META reported EPS surprise was -12.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — MSFT quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_msft</code>, reported_quarter): MSFT reported EPS surprise was 12.59%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — NVDA quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_nvda</code>, reported_quarter): NVDA reported EPS surprise was 5.65%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — ORCL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_orcl</code>, reported_quarter): ORCL reported EPS surprise was 13.29%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.asking_rates</code>, quarterly): Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — delivered wholesale colocation capacity in Northern Virginia</strong> (<code>colo_market.capacity_delivery</code>, quarterly): Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BEARISH — listed data-centre landlord pricing relative to the broad market</strong> (<code>colo_market.public_landlord_sentiment</code>, near_term): The registered relative-price chart changed -7.37% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.vacancy</code>, quarterly): Northern Virginia vacancy_pct was 0.3 pct (decreased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (<code>company_exposure.hyperscaler_relative_price</code>, near_term): The registered relative-price chart changed 9.73% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — public-market pricing of the neocloud cohort relative to the broad market</strong> (<code>company_exposure.neocloud_relative_price</code>, near_term): The registered relative-price chart changed 7.09% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BEARISH — public-market pricing of the AI-power cohort relative to the broad market</strong> (<code>company_exposure.power_cohort_relative_price</code>, near_term): The registered relative-price chart changed -9.32% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>MIXED — GPU rental-provider pricing power</strong> (<code>compute_market.gpu_availability</code>, near_term): Listed GPU capacity is available. Wrong if: Marketplace availability moves into the opposite registered state.</li>\n<li><strong>BULLISH — listed BDC pricing relative to investment-grade credit</strong> (<code>private_markets.private_credit_canary</code>, near_term): The registered relative-price chart changed 6.30% over 30 days. Wrong if: The 30-day change crosses the opposite 1.5% band.</li>\n<li><strong>BULLISH — leading foundry demand represented by TSMC monthly revenue</strong> (<code>supply_chain.foundry_demand</code>, near_term): Published year-on-year growth is 44.69%. Wrong if: The next published year-on-year growth rate crosses zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>BULLISH — AMD quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amd</code>, reported_quarter): AMD reported EPS surprise was 22.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AMZN quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amzn</code>, reported_quarter): AMZN reported EPS surprise was 2.73%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AVGO quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_avgo</code>, reported_quarter): AVGO reported EPS surprise was 1.67%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>MIXED — GOOGL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_googl</code>, reported_quarter): GOOGL reported EPS surprise was 216.32%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BEARISH — META quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_meta</code>, reported_quarter): META reported EPS surprise was -12.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — MSFT quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_msft</code>, reported_quarter): MSFT reported EPS surprise was 12.59%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — NVDA quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_nvda</code>, reported_quarter): NVDA reported EPS surprise was 5.65%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — ORCL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_orcl</code>, reported_quarter): ORCL reported EPS surprise was 13.29%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.asking_rates</code>, quarterly): Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — delivered wholesale colocation capacity in Northern Virginia</strong> (<code>colo_market.capacity_delivery</code>, quarterly): Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BEARISH — listed data-centre landlord pricing relative to the broad market</strong> (<code>colo_market.public_landlord_sentiment</code>, near_term): The registered relative-price chart changed -7.37% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.vacancy</code>, quarterly): Northern Virginia vacancy_pct was 0.3 pct (decreased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>MIXED — GPU rental-provider pricing power</strong> (<code>compute_market.gpu_availability</code>, near_term): Listed GPU capacity is available. Wrong if: Marketplace availability moves into the opposite registered state.</li>\n<li><strong>BULLISH — leading foundry demand represented by TSMC monthly revenue</strong> (<code>supply_chain.foundry_demand</code>, near_term): Published year-on-year growth is 44.69%. Wrong if: The next published year-on-year growth rate crosses zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-08-25 17:04:58</td><td>2026-08-25 17:04:58</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">2</td><td>2026-08-25 13:46:16</td><td>2026-08-24 00:00:00</td><td>—</td></tr>\n<tr><td>chain_anchor</td><td>error</td><td class=\"num\">0</td><td>2026-08-24 22:20:05</td><td>—</td><td>chain verification failed at seq=1: row_hash mismatch — stored content was altered</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-08-25 10:17:28</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">5</td><td>2026-08-25 13:09:40</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>skipped</td><td class=\"num\">0</td><td>2026-08-25 10:48:32</td><td>—</td><td>AIB_EDGAR_CONTACT not configured</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">184</td><td>2026-08-25 21:50:55</td><td>2026-08-25 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">1929</td><td>2026-08-25 14:03:11</td><td>2026-08-24 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">720</td><td>2026-08-25 11:29:06</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">229</td><td>2026-08-25 16:31:04</td><td>2026-08-25 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-08-25 21:53:46</td><td>2026-08-26 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1787694830</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">1</td><td>2026-08-25 13:04:33</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-08-25 09:39:41</td><td>2026-08-18 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-08-25 14:03:08</td><td>2026-08-24 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-08-25 10:03:56</td><td>2026-08-21 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-08-25 07:55:34</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-08-25 13:01:37</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): edgar_disclosures</li>\n<li>Errored last run: chain_anchor</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or unavailable for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-08-25T22:10:32Z",
      "id": "urn:prexel:issue:50c64928-10d0-5e6a-a778-d4cdda36e33e",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 2 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-24-daily-7d6a99204189.html"
    },
    {
      "_prexel": {
        "content_hash": "e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58",
        "context_hash": "793738255d8c696df9770876dfda99be5f4226bb24291e9be64613fa589a5bc0",
        "kind": "daily",
        "period_end": "2026-08-23"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>3 distinct notices · 3 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-22 05:57:30.836000 · correction <code>9f7001a327fe7dad41e841c93bfe79e4fd20a75c4ef2c42bcf7eb5f8056fc54a</code> · hash <code>59a0f5836a720e30a4c7ad516bcaada5c60f2fa766c7fddbca9b849ae7671891</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-20 13:53:45.522000 · correction <code>5d5b870e6fbb8c194afa2ae247609aa93472803397c7779d7f08c99c3b2d4634</code> · hash <code>c47945c8ce8cd91cb2133f8820fb090c7b526c4683d6c5cb4e25377e773cb2b2</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>e0c88e12e958c687891682c78e20a036b774d485e4f85ff7b3988fc590016d58</code> · effective 2026-09-15 06:40:47.848000 · correction <code>2c674e76646bfb855b545e1000ad65f62dce0830c4921df497820db81d8a3547</code> · hash <code>d3d118417005a50778cda64be36301bacbc87bc0122cbb1e665e53202cf0e7b4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 1 (daily)</h1>\n<p>Period: 2026-08-23 → 2026-08-23</p>\n<p>Context hash: <code>793738255d8c696df9770876dfda99be5f4226bb24291e9be64613fa589a5bc0</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (22 available, 12 unavailable)</li>\n<li>Bullish: US equity breadth relative to capitalization-weighted equities (capital_markets.market_breadth), near-term public-market risk appetite (capital_markets.volatility_term_structure), AMD quarterly EPS execution versus consensus (catalysts.earnings_surprise_amd), AMZN quarterly EPS execution versus consensus (catalysts.earnings_surprise_amzn), AVGO quarterly EPS execution versus consensus (catalysts.earnings_surprise_avgo), MSFT quarterly EPS execution versus consensus (catalysts.earnings_surprise_msft), NVDA quarterly EPS execution versus consensus (catalysts.earnings_surprise_nvda), ORCL quarterly EPS execution versus consensus (catalysts.earnings_surprise_orcl), landlord pricing power in Northern Virginia colocation (colo_market.asking_rates), delivered wholesale colocation capacity in Northern Virginia (colo_market.capacity_delivery), landlord pricing power in Northern Virginia colocation (colo_market.vacancy), public-market pricing of the hyperscaler cohort relative to the broad market (company_exposure.hyperscaler_relative_price), listed BDC pricing relative to investment-grade credit (private_markets.private_credit_canary), leading foundry demand represented by TSMC monthly revenue (supply_chain.foundry_demand)</li>\n<li>Bearish: semiconductor equity leadership relative to the broad US market (capital_markets.ai_equity_sentiment), META quarterly EPS execution versus consensus (catalysts.earnings_surprise_meta), public-market pricing of the neocloud cohort relative to the broad market (company_exposure.neocloud_relative_price), public-market pricing of the AI-power cohort relative to the broad market (company_exposure.power_cohort_relative_price)</li>\n<li>Mixed: public-credit risk appetite relevant to AI-buildout financing (capital_markets.credit_risk_appetite), GOOGL quarterly EPS execution versus consensus (catalysts.earnings_surprise_googl), listed data-centre landlord pricing relative to the broad market (colo_market.public_landlord_sentiment), GPU rental-provider pricing power (compute_market.gpu_availability)</li>\n<li>Unavailable charts: catalysts.ai_event_probability, compute_market.gpu_residual_value, compute_market.gpu_tenor_divergence, compute_market.h100_spot_pricing, compute_market.inference_demand, policy.us_ai_policy_impact, power.nova_power_congestion, power.pjm_load_anomaly, power.pjm_load_forecast_surprise, power.power_capacity_delivery, private_markets.private_secondary_discount, supply_chain.memory_export_demand</li>\n<li>Open cross-domain events: 1</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>semiconductor equity leadership relative to the broad US market — BEARISH</h3>\n<ul>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain / observation: capital_markets / ai_equity_sentiment</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed -7.56% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.56%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -7.563</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 131.20</li>\n</ul>\n</ul>\n<h3>public-credit risk appetite relevant to AI-buildout financing — MIXED</h3>\n<ul>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain / observation: capital_markets / credit_risk_appetite</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 0.88% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.88%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.8756</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 103.08</li>\n</ul>\n</ul>\n<h3>US equity breadth relative to capitalization-weighted equities — BULLISH</h3>\n<ul>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain / observation: capital_markets / market_breadth</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 1.84% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.84%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 1.835</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 102.04</li>\n</ul>\n</ul>\n<h3>near-term public-market risk appetite — BULLISH</h3>\n<ul>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain / observation: capital_markets / volatility_term_structure</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: VIX/VIX3M is 0.818.</li>\n<li>evidence: VIX/VIX3M: 0.818.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: VIX/VIX3M crosses the opposite registered 0.95/1.05 band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8178</li>\n</ul>\n</ul>\n<h3>market-implied probability of registered AI-buildout events — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: stable_event_history_insufficient</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain / observation: catalysts / earnings_surprise_amd</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-08-04 / 2026-08-20 09:53:02</li>\n<li>interpretation: AMD reported EPS surprise was 22.96%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>AMZN quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain / observation: catalysts / earnings_surprise_amzn</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN reported EPS surprise was 2.73%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>AVGO quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain / observation: catalysts / earnings_surprise_avgo</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-06-03 / 2026-08-20 09:53:02</li>\n<li>interpretation: AVGO reported EPS surprise was 1.67%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>GOOGL quarterly EPS execution versus consensus — MIXED</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain / observation: catalysts / earnings_surprise_googl</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-22 / 2026-08-22 09:28:36</li>\n<li>interpretation: GOOGL reported EPS surprise was 216.32%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, extreme_surprise_requires_review, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>META quarterly EPS execution versus consensus — BEARISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain / observation: catalysts / earnings_surprise_meta</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-29 / 2026-08-24 11:39:37</li>\n<li>interpretation: META reported EPS surprise was -12.96%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>MSFT quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain / observation: catalysts / earnings_surprise_msft</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-29 / 2026-08-21 00:08:51</li>\n<li>interpretation: MSFT reported EPS surprise was 12.59%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVDA quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain / observation: catalysts / earnings_surprise_nvda</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA reported EPS surprise was 5.65%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>ORCL quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain / observation: catalysts / earnings_surprise_orcl</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-06-10 / 2026-08-20 09:53:02</li>\n<li>interpretation: ORCL reported EPS surprise was 13.29%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>landlord pricing power in Northern Virginia colocation — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain / observation: colo_market / asking_rates</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased).</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>delivered wholesale colocation capacity in Northern Virginia — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain / observation: colo_market / capacity_delivery</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased).</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>listed data-centre landlord pricing relative to the broad market — MIXED</h3>\n<ul>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain / observation: colo_market / public_landlord_sentiment</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 0.26% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 0.2567</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 117.68</li>\n</ul>\n</ul>\n<h3>landlord pricing power in Northern Virginia colocation — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain / observation: colo_market / vacancy</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia vacancy_pct was 0.3 pct (decreased).</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>public-market pricing of the hyperscaler cohort relative to the broad market — BULLISH</h3>\n<ul>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain / observation: company_exposure / hyperscaler_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 4.22% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 4.222</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 89.39</li>\n</ul>\n</ul>\n<h3>public-market pricing of the neocloud cohort relative to the broad market — BEARISH</h3>\n<ul>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain / observation: company_exposure / neocloud_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed -2.32% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.316</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 114.64</li>\n</ul>\n</ul>\n<h3>public-market pricing of the AI-power cohort relative to the broad market — BEARISH</h3>\n<ul>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain / observation: company_exposure / power_cohort_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed -7.83% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.83%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -7.829</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 100.05</li>\n</ul>\n</ul>\n<h3>GPU rental-provider pricing power — MIXED</h3>\n<ul>\n<li>chart: <code>compute_availability</code></li>\n<li>domain / observation: compute_market / gpu_availability</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-23 / 2026-08-23 19:49:58</li>\n<li>interpretation: Listed GPU capacity is available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: Marketplace availability moves into the opposite registered state.</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU asset residual values — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: medium_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: secondary_market_unavailable</li>\n<li>data quality: source_not_implemented</li>\n</ul>\n<h3>near-term GPU rental pricing — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: tenor_history_unavailable</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n</ul>\n<h3>H100 rental-provider pricing power — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: spot_trend_unavailable</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n</ul>\n<h3>OpenRouter public-app inference activity — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: seven_day_snapshot_history_insufficient</li>\n<li>data quality: panel_not_census, public_apps_only, rolling_30d_window</li>\n</ul>\n<h3>US policy impact on AI-buildout beneficiaries and constraints — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: document_impact_not_classified</li>\n<li>data quality: none</li>\n</ul>\n<h3>Northern Virginia data-centre power economics — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: dc_basis_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: dc_load_anomaly_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>near-term PJM electricity demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: da_rt_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI data-centre capacity delivery — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: structural</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Filed capacity, interconnection, equipment, and labour evidence is not wired.</li>\n<li>reason codes: filed_capacity_inputs_unavailable</li>\n<li>data quality: plane_not_implemented</li>\n</ul>\n<h3>listed BDC pricing relative to investment-grade credit — BULLISH</h3>\n<ul>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain / observation: private_markets / private_credit_canary</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 5.85% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.85%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.5% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 5.85</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 107.45</li>\n</ul>\n</ul>\n<h3>private AI-company secondary-market pricing — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: direct_private_marks_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>leading foundry demand represented by TSMC monthly revenue — BULLISH</h3>\n<ul>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain / observation: supply_chain / foundry_demand</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-23 / 2026-08-16 16:00:00</li>\n<li>interpretation: Published year-on-year growth is 44.69%.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next published year-on-year growth rate crosses zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean semiconductor export demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: monthly_growth_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-23</td><td class=\"num\">789,538</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-23</td><td class=\"num\">1,765,398</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-23</td><td class=\"num\">2,312,718</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.72</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">44.57</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.26</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.436</li>\n<li>as of: 2026-08-23</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<p>No rows — feed empty or not yet collected.</p>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-08-22 12:25:41</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>BEARISH — semiconductor equity leadership relative to the broad US market</strong> (<code>capital_markets.ai_equity_sentiment</code>, near_term): The registered relative-price chart changed -7.56% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>MIXED — public-credit risk appetite relevant to AI-buildout financing</strong> (<code>capital_markets.credit_risk_appetite</code>, near_term): The registered relative-price chart changed 0.88% over 30 days. Wrong if: The 30-day change crosses the opposite 1.0% band.</li>\n<li><strong>BULLISH — US equity breadth relative to capitalization-weighted equities</strong> (<code>capital_markets.market_breadth</code>, near_term): The registered relative-price chart changed 1.84% over 30 days. Wrong if: The 30-day change crosses the opposite 1.0% band.</li>\n<li><strong>BULLISH — near-term public-market risk appetite</strong> (<code>capital_markets.volatility_term_structure</code>, near_term): VIX/VIX3M is 0.818. Wrong if: VIX/VIX3M crosses the opposite registered 0.95/1.05 band.</li>\n<li><strong>BULLISH — AMD quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amd</code>, reported_quarter): AMD reported EPS surprise was 22.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AMZN quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amzn</code>, reported_quarter): AMZN reported EPS surprise was 2.73%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AVGO quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_avgo</code>, reported_quarter): AVGO reported EPS surprise was 1.67%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>MIXED — GOOGL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_googl</code>, reported_quarter): GOOGL reported EPS surprise was 216.32%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BEARISH — META quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_meta</code>, reported_quarter): META reported EPS surprise was -12.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — MSFT quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_msft</code>, reported_quarter): MSFT reported EPS surprise was 12.59%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — NVDA quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_nvda</code>, reported_quarter): NVDA reported EPS surprise was 5.65%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — ORCL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_orcl</code>, reported_quarter): ORCL reported EPS surprise was 13.29%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.asking_rates</code>, quarterly): Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — delivered wholesale colocation capacity in Northern Virginia</strong> (<code>colo_market.capacity_delivery</code>, quarterly): Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>MIXED — listed data-centre landlord pricing relative to the broad market</strong> (<code>colo_market.public_landlord_sentiment</code>, near_term): The registered relative-price chart changed 0.26% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.vacancy</code>, quarterly): Northern Virginia vacancy_pct was 0.3 pct (decreased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (<code>company_exposure.hyperscaler_relative_price</code>, near_term): The registered relative-price chart changed 4.22% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BEARISH — public-market pricing of the neocloud cohort relative to the broad market</strong> (<code>company_exposure.neocloud_relative_price</code>, near_term): The registered relative-price chart changed -2.32% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BEARISH — public-market pricing of the AI-power cohort relative to the broad market</strong> (<code>company_exposure.power_cohort_relative_price</code>, near_term): The registered relative-price chart changed -7.83% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>MIXED — GPU rental-provider pricing power</strong> (<code>compute_market.gpu_availability</code>, near_term): Listed GPU capacity is available. Wrong if: Marketplace availability moves into the opposite registered state.</li>\n<li><strong>BULLISH — listed BDC pricing relative to investment-grade credit</strong> (<code>private_markets.private_credit_canary</code>, near_term): The registered relative-price chart changed 5.85% over 30 days. Wrong if: The 30-day change crosses the opposite 1.5% band.</li>\n<li><strong>BULLISH — leading foundry demand represented by TSMC monthly revenue</strong> (<code>supply_chain.foundry_demand</code>, near_term): Published year-on-year growth is 44.69%. Wrong if: The next published year-on-year growth rate crosses zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>BULLISH — AMD quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amd</code>, reported_quarter): AMD reported EPS surprise was 22.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AMZN quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amzn</code>, reported_quarter): AMZN reported EPS surprise was 2.73%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AVGO quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_avgo</code>, reported_quarter): AVGO reported EPS surprise was 1.67%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>MIXED — GOOGL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_googl</code>, reported_quarter): GOOGL reported EPS surprise was 216.32%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BEARISH — META quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_meta</code>, reported_quarter): META reported EPS surprise was -12.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — MSFT quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_msft</code>, reported_quarter): MSFT reported EPS surprise was 12.59%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — NVDA quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_nvda</code>, reported_quarter): NVDA reported EPS surprise was 5.65%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — ORCL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_orcl</code>, reported_quarter): ORCL reported EPS surprise was 13.29%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.asking_rates</code>, quarterly): Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — delivered wholesale colocation capacity in Northern Virginia</strong> (<code>colo_market.capacity_delivery</code>, quarterly): Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>MIXED — listed data-centre landlord pricing relative to the broad market</strong> (<code>colo_market.public_landlord_sentiment</code>, near_term): The registered relative-price chart changed 0.26% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.vacancy</code>, quarterly): Northern Virginia vacancy_pct was 0.3 pct (decreased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>MIXED — GPU rental-provider pricing power</strong> (<code>compute_market.gpu_availability</code>, near_term): Listed GPU capacity is available. Wrong if: Marketplace availability moves into the opposite registered state.</li>\n<li><strong>BULLISH — leading foundry demand represented by TSMC monthly revenue</strong> (<code>supply_chain.foundry_demand</code>, near_term): Published year-on-year growth is 44.69%. Wrong if: The next published year-on-year growth rate crosses zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-08-24 18:11:38</td><td>2026-08-24 18:11:38</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">1</td><td>2026-08-24 11:39:37</td><td>2026-08-21 00:00:00</td><td>—</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-08-24 11:39:37</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">5</td><td>2026-08-24 11:39:37</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>skipped</td><td class=\"num\">0</td><td>2026-08-24 11:39:37</td><td>—</td><td>AIB_EDGAR_CONTACT not configured</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">181</td><td>2026-08-24 21:22:14</td><td>2026-08-24 21:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">1905</td><td>2026-08-24 11:40:01</td><td>2026-08-23 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">693</td><td>2026-08-24 11:39:37</td><td>2026-08-24 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">235</td><td>2026-08-24 17:05:49</td><td>2026-08-24 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-08-24 21:41:40</td><td>2026-08-25 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1787607704</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">1</td><td>2026-08-24 11:39:37</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-08-24 11:39:37</td><td>2026-08-18 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-08-24 11:39:37</td><td>2026-08-23 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-08-24 11:39:37</td><td>2026-08-21 00:00:00</td><td>—</td></tr>\n<tr><td>report</td><td>ok</td><td class=\"num\">1</td><td>2026-08-24 11:59:27</td><td>—</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-08-24 11:39:37</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): edgar_disclosures</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or unavailable for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-08-24T22:10:06Z",
      "id": "urn:prexel:issue:23a22dd2-a5e0-5fd4-9e5c-dd2690f836d3",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 1 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-23-daily-e0c88e12e958.html"
    },
    {
      "_prexel": {
        "content_hash": "77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87",
        "context_hash": "4cb4ce58e4276ef64b6dc921029af60b86fd985725d6b55c75addc7aa8fa5279",
        "kind": "daily",
        "period_end": "2026-08-23"
      },
      "content_html": "<h2>Corrections and withdrawals</h2>\n<p>These are separate correction records. Original publication bytes remain unchanged.</p>\n<p>3 distinct notices · 3 retained correction records.</p>\n<ul>\n<li><strong>corrected</strong>: The PJM load z-score and its derived directional reading are withdrawn. The weather-naive 28-day same-weekday baseline contains at most four reference days, below the 30-observation publication floor. That floor is an admission rule, not proof of calibration, stationarity or significance. Regional load measurements and descriptive percentage differences remain separate from this withdrawn standardized score. Original publication bytes remain unchanged; this notice takes effect at its actual publication time.</li>\n</ul>\n<p>Replacement record: <code>{&quot;anomaly_z&quot;:null,&quot;label&quot;:&quot;unavailable&quot;,&quot;observation_key&quot;:&quot;power.pjm_load_anomaly&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-22 05:57:30.836000 · correction <code>0cf0db313bd2d88e586c5d9ceae2b3b9d501477fdf0e0e45175561f2c0383a10</code> · hash <code>94e1914d17423ab8d62a6fe57d5c7724302bb2189e2e677e5439c6eef13a0f34</code></li>\n<ul>\n<li>Evidence: <code>reviews/publication-gates-2026-09-22/IMPLEMENTATION.md</code></li>\n<li>Evidence: <code>src/publication_policy.py</code></li>\n<li>Evidence: <code>src/pipeline/silver/power.py</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: The prior adjusted-price pipeline combined a refreshed 30-day tail with older adjustment histories. A source reconstruction verified inconsistent HYG/LQD history. Prior market-series levels and returns must not be treated as certified single-vintage inputs or point-in-time performance evidence. Complete per-symbol refreshes and completeness checks replace that method from this correction onward. This qualifies the report&#x27;s price-derived evidence; it does not assert that every printed number or direction changed. New source vintages are available only at their actual receipt time, never retroactively.</li>\n</ul>\n<p>Replacement record: <code>{&quot;historical_adjustment_consistency&quot;:&quot;not_certified&quot;,&quot;remediation&quot;:&quot;full_history_per_symbol_with_manifest&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-20 13:53:45.522000 · correction <code>e85baa5aae29cbf02945e6db0f3c638641ae17e71dd82b5227a8e55b498b37f8</code> · hash <code>8ae1e2abdafa2aa8d69dc444995f03050845dc852da0fbc8e31a20c21ef9ccc4</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-mission-2026-09-20/AUDIT.md</code></li>\n<li>Evidence: <code>quant-claim-repair-2026-09-20-v1</code></li>\n</ul>\n</ul>\n<ul>\n<li><strong>corrected</strong>: GOOGL&#x27;s +216.32% EPS surprise is withdrawn. The 9.11 actual and 2.88 estimate lack a verified matching accounting basis. The reported mixed read must be unavailable; no replacement surprise is asserted.</li>\n</ul>\n<p>Replacement record: <code>{&quot;label&quot;:&quot;unavailable&quot;,&quot;surprise_pct&quot;:null,&quot;symbol&quot;:&quot;GOOGL&quot;}</code></p>\n<ul>\n<li>report_content_hash · <code>77096b587feed4d270ba30d4d755301020fbb0a408fa9727d84ec0e58b665c87</code> · effective 2026-09-15 06:40:47.848000 · correction <code>7793b1bc1d8f5045eb85655ae463a7e91f981317a316102d9d810ec85caaf7c2</code> · hash <code>34b78695f8f358902e0ae02ad95b0567e274e015409be69d810f7eed85929009</code></li>\n<ul>\n<li>Evidence: <code>reviews/aib-quant-2026-09-10/AIB-quant-review.md</code></li>\n<li>Evidence: <code>src/research/eps_basis.py</code></li>\n</ul>\n</ul>\n<h1>PREXEL — AI_BUILDOUT · Issue No. 1 (daily)</h1>\n<p>Period: 2026-08-23 → 2026-08-23</p>\n<p>Context hash: <code>4cb4ce58e4276ef64b6dc921029af60b86fd985725d6b55c75addc7aa8fa5279</code></p>\n<h2>Headline State</h2>\n<ul>\n<li>Directional observations: 34 (22 available, 12 unavailable)</li>\n<li>Bullish: US equity breadth relative to capitalization-weighted equities (capital_markets.market_breadth), near-term public-market risk appetite (capital_markets.volatility_term_structure), AMD quarterly EPS execution versus consensus (catalysts.earnings_surprise_amd), AMZN quarterly EPS execution versus consensus (catalysts.earnings_surprise_amzn), AVGO quarterly EPS execution versus consensus (catalysts.earnings_surprise_avgo), MSFT quarterly EPS execution versus consensus (catalysts.earnings_surprise_msft), NVDA quarterly EPS execution versus consensus (catalysts.earnings_surprise_nvda), ORCL quarterly EPS execution versus consensus (catalysts.earnings_surprise_orcl), landlord pricing power in Northern Virginia colocation (colo_market.asking_rates), delivered wholesale colocation capacity in Northern Virginia (colo_market.capacity_delivery), landlord pricing power in Northern Virginia colocation (colo_market.vacancy), public-market pricing of the hyperscaler cohort relative to the broad market (company_exposure.hyperscaler_relative_price), listed BDC pricing relative to investment-grade credit (private_markets.private_credit_canary), leading foundry demand represented by TSMC monthly revenue (supply_chain.foundry_demand)</li>\n<li>Bearish: semiconductor equity leadership relative to the broad US market (capital_markets.ai_equity_sentiment), META quarterly EPS execution versus consensus (catalysts.earnings_surprise_meta), public-market pricing of the neocloud cohort relative to the broad market (company_exposure.neocloud_relative_price), public-market pricing of the AI-power cohort relative to the broad market (company_exposure.power_cohort_relative_price)</li>\n<li>Mixed: public-credit risk appetite relevant to AI-buildout financing (capital_markets.credit_risk_appetite), GOOGL quarterly EPS execution versus consensus (catalysts.earnings_surprise_googl), listed data-centre landlord pricing relative to the broad market (colo_market.public_landlord_sentiment), GPU rental-provider pricing power (compute_market.gpu_availability)</li>\n<li>Unavailable charts: catalysts.ai_event_probability, compute_market.gpu_residual_value, compute_market.gpu_tenor_divergence, compute_market.h100_spot_pricing, compute_market.inference_demand, policy.us_ai_policy_impact, power.nova_power_congestion, power.pjm_load_anomaly, power.pjm_load_forecast_surprise, power.power_capacity_delivery, private_markets.private_secondary_discount, supply_chain.memory_export_demand</li>\n<li>Open cross-domain events: 1</li>\n<li>Forced-flow events (trailing 30d): 0</li>\n<li>Open monitored opportunities: 0</li>\n</ul>\n<h2>Directional Observations</h2>\n<h3>semiconductor equity leadership relative to the broad US market — BEARISH</h3>\n<ul>\n<li>chart: <code>capital_sox_spx</code></li>\n<li>domain / observation: capital_markets / ai_equity_sentiment</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed -7.56% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.56%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -7.563</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;SOX.INDX&#x27;]</li>\n<li>series: RATIO_SOX_SPX</li>\n<li>value: 131.20</li>\n</ul>\n</ul>\n<h3>public-credit risk appetite relevant to AI-buildout financing — MIXED</h3>\n<ul>\n<li>chart: <code>capital_hyg_lqd</code></li>\n<li>domain / observation: capital_markets / credit_risk_appetite</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 0.88% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.88%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 0.8756</li>\n<li>components: [&#x27;HYG.US&#x27;, &#x27;LQD.US&#x27;]</li>\n<li>series: RATIO_HYG_LQD</li>\n<li>value: 103.08</li>\n</ul>\n</ul>\n<h3>US equity breadth relative to capitalization-weighted equities — BULLISH</h3>\n<ul>\n<li>chart: <code>capital_rsp_spx</code></li>\n<li>domain / observation: capital_markets / market_breadth</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 1.84% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 1.84%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1</li>\n<li>change_30d_pct: 1.835</li>\n<li>components: [&#x27;GSPC.INDX&#x27;, &#x27;RSP.US&#x27;]</li>\n<li>series: RATIO_RSP_SPX</li>\n<li>value: 102.04</li>\n</ul>\n</ul>\n<h3>near-term public-market risk appetite — BULLISH</h3>\n<ul>\n<li>chart: <code>capital_vix_term</code></li>\n<li>domain / observation: capital_markets / volatility_term_structure</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: VIX/VIX3M is 0.818.</li>\n<li>evidence: VIX/VIX3M: 0.818.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: VIX/VIX3M crosses the opposite registered 0.95/1.05 band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>vix_vix3m: 0.8178</li>\n</ul>\n</ul>\n<h3>market-implied probability of registered AI-buildout events — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>catalyst_ai_probability</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: stable_event_history_insufficient</li>\n<li>data quality: none</li>\n</ul>\n<h3>AMD quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_amd</code></li>\n<li>domain / observation: catalysts / earnings_surprise_amd</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-08-04 / 2026-08-20 09:53:02</li>\n<li>interpretation: AMD reported EPS surprise was 22.96%.</li>\n<li>evidence: Reported EPS 1.66 versus estimate 1.35.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.66</li>\n<li>estimate_eps: 1.35</li>\n<li>event_date: 2026-08-04</li>\n<li>surprise_pct: 22.96</li>\n<li>symbol: AMD</li>\n</ul>\n</ul>\n<h3>AMZN quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_amzn</code></li>\n<li>domain / observation: catalysts / earnings_surprise_amzn</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-30 / 2026-08-23 11:29:20</li>\n<li>interpretation: AMZN reported EPS surprise was 2.73%.</li>\n<li>evidence: Reported EPS 1.88 versus estimate 1.83.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.88</li>\n<li>estimate_eps: 1.83</li>\n<li>event_date: 2026-07-30</li>\n<li>surprise_pct: 2.732</li>\n<li>symbol: AMZN</li>\n</ul>\n</ul>\n<h3>AVGO quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_avgo</code></li>\n<li>domain / observation: catalysts / earnings_surprise_avgo</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-06-03 / 2026-08-20 09:53:02</li>\n<li>interpretation: AVGO reported EPS surprise was 1.67%.</li>\n<li>evidence: Reported EPS 2.44 versus estimate 2.4.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 2.44</li>\n<li>estimate_eps: 2.4</li>\n<li>event_date: 2026-06-03</li>\n<li>surprise_pct: 1.667</li>\n<li>symbol: AVGO</li>\n</ul>\n</ul>\n<h3>GOOGL quarterly EPS execution versus consensus — MIXED</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_googl</code></li>\n<li>domain / observation: catalysts / earnings_surprise_googl</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-22 / 2026-08-22 09:28:36</li>\n<li>interpretation: GOOGL reported EPS surprise was 216.32%.</li>\n<li>evidence: Reported EPS 9.11 versus estimate 2.88.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, extreme_surprise_requires_review, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 9.11</li>\n<li>estimate_eps: 2.88</li>\n<li>event_date: 2026-07-22</li>\n<li>surprise_pct: 216.32</li>\n<li>symbol: GOOGL</li>\n</ul>\n</ul>\n<h3>META quarterly EPS execution versus consensus — BEARISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_meta</code></li>\n<li>domain / observation: catalysts / earnings_surprise_meta</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-29 / 2026-08-24 11:39:37</li>\n<li>interpretation: META reported EPS surprise was -12.96%.</li>\n<li>evidence: Reported EPS 6.18 versus estimate 7.1.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 6.18</li>\n<li>estimate_eps: 7.1</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: -12.96</li>\n<li>symbol: META</li>\n</ul>\n</ul>\n<h3>MSFT quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_msft</code></li>\n<li>domain / observation: catalysts / earnings_surprise_msft</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-07-29 / 2026-08-21 00:08:51</li>\n<li>interpretation: MSFT reported EPS surprise was 12.59%.</li>\n<li>evidence: Reported EPS 4.74 versus estimate 4.21.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 4.74</li>\n<li>estimate_eps: 4.21</li>\n<li>event_date: 2026-07-29</li>\n<li>surprise_pct: 12.59</li>\n<li>symbol: MSFT</li>\n</ul>\n</ul>\n<h3>NVDA quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_nvda</code></li>\n<li>domain / observation: catalysts / earnings_surprise_nvda</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-05-20 / 2026-08-20 09:53:02</li>\n<li>interpretation: NVDA reported EPS surprise was 5.65%.</li>\n<li>evidence: Reported EPS 1.87 versus estimate 1.77.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.87</li>\n<li>estimate_eps: 1.77</li>\n<li>event_date: 2026-05-20</li>\n<li>surprise_pct: 5.65</li>\n<li>symbol: NVDA</li>\n</ul>\n</ul>\n<h3>ORCL quarterly EPS execution versus consensus — BULLISH</h3>\n<ul>\n<li>chart: <code>catalyst_earnings_orcl</code></li>\n<li>domain / observation: catalysts / earnings_surprise_orcl</li>\n<li>horizon: reported_quarter</li>\n<li>as of / known at: 2026-06-10 / 2026-08-20 09:53:02</li>\n<li>interpretation: ORCL reported EPS surprise was 13.29%.</li>\n<li>evidence: Reported EPS 1.79 versus estimate 1.58.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li>data quality: company_local_event, free_api</li>\n<li>metrics:</li>\n<ul>\n<li>actual_eps: 1.79</li>\n<li>estimate_eps: 1.58</li>\n<li>event_date: 2026-06-10</li>\n<li>surprise_pct: 13.29</li>\n<li>symbol: ORCL</li>\n</ul>\n</ul>\n<h3>landlord pricing power in Northern Virginia colocation — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_asking_rates</code></li>\n<li>domain / observation: colo_market / asking_rates</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased).</li>\n<li>evidence: Public page states a $190-$235 range and continued average-rate increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: asking_rent_midpoint_usd_kw_month</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: usd_per_kw_month</li>\n<li>value: 212.50</li>\n</ul>\n</ul>\n<h3>delivered wholesale colocation capacity in Northern Virginia — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_capacity_delivery</code></li>\n<li>domain / observation: colo_market / capacity_delivery</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased).</li>\n<li>evidence: CBRE public webpage, Q1 2026 delivered inventory increase</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: inventory_added_yoy_mw</li>\n<li>prior_value: —</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: mw</li>\n<li>value: 1,135.90</li>\n</ul>\n</ul>\n<h3>listed data-centre landlord pricing relative to the broad market — MIXED</h3>\n<ul>\n<li>chart: <code>colo_public_landlords_spx</code></li>\n<li>domain / observation: colo_market / public_landlord_sentiment</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 0.26% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 0.26%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 0.2567</li>\n<li>components: [&#x27;DLR.US&#x27;, &#x27;EQIX.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IRM.US&#x27;]</li>\n<li>series: BASKET_COLO_SPX</li>\n<li>value: 117.68</li>\n</ul>\n</ul>\n<h3>landlord pricing power in Northern Virginia colocation — BULLISH</h3>\n<ul>\n<li>chart: <code>colo_vacancy</code></li>\n<li>domain / observation: colo_market / vacancy</li>\n<li>horizon: quarterly</li>\n<li>as of / known at: 2026-03-31 / 2026-06-17 00:00:00</li>\n<li>interpretation: Northern Virginia vacancy_pct was 0.3 pct (decreased).</li>\n<li>evidence: CBRE public webpage, Q1 2026</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next cited market report reverses the published metric direction.</li>\n<li>data quality: dated_public_research, not_continuous_feed</li>\n<li>metrics:</li>\n<ul>\n<li>market: Northern Virginia</li>\n<li>metric: vacancy_pct</li>\n<li>prior_value: 0.8</li>\n<li>source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026</li>\n<li>unit: pct</li>\n<li>value: 0.3</li>\n</ul>\n</ul>\n<h3>public-market pricing of the hyperscaler cohort relative to the broad market — BULLISH</h3>\n<ul>\n<li>chart: <code>exposure_hyperscaler_spx</code></li>\n<li>domain / observation: company_exposure / hyperscaler_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 4.22% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 4.22%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: 4.222</li>\n<li>components: [&#x27;AMZN.US&#x27;, &#x27;GOOGL.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;META.US&#x27;, &#x27;MSFT.US&#x27;, &#x27;ORCL.US&#x27;]</li>\n<li>series: BASKET_HYPERSCALER_SPX</li>\n<li>value: 89.39</li>\n</ul>\n</ul>\n<h3>public-market pricing of the neocloud cohort relative to the broad market — BEARISH</h3>\n<ul>\n<li>chart: <code>exposure_neocloud_spx</code></li>\n<li>domain / observation: company_exposure / neocloud_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed -2.32% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -2.32%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -2.316</li>\n<li>components: [&#x27;APLD.US&#x27;, &#x27;CRWV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;IREN.US&#x27;, &#x27;NBIS.US&#x27;]</li>\n<li>series: BASKET_NEOCLOUD_SPX</li>\n<li>value: 114.64</li>\n</ul>\n</ul>\n<h3>public-market pricing of the AI-power cohort relative to the broad market — BEARISH</h3>\n<ul>\n<li>chart: <code>exposure_power_spx</code></li>\n<li>domain / observation: company_exposure / power_cohort_relative_price</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed -7.83% over 30 days.</li>\n<li>evidence: 30-day relative-price change: -7.83%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 2.0% band.</li>\n<li>data quality: correlation_only_not_exposure_evidence, price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 2</li>\n<li>change_30d_pct: -7.829</li>\n<li>components: [&#x27;CEG.US&#x27;, &#x27;ETN.US&#x27;, &#x27;GEV.US&#x27;, &#x27;GSPC.INDX&#x27;, &#x27;PWR.US&#x27;, &#x27;TLN.US&#x27;, &#x27;VST.US&#x27;]</li>\n<li>series: BASKET_POWER_SPX</li>\n<li>value: 100.05</li>\n</ul>\n</ul>\n<h3>GPU rental-provider pricing power — MIXED</h3>\n<ul>\n<li>chart: <code>compute_availability</code></li>\n<li>domain / observation: compute_market / gpu_availability</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-23 / 2026-08-23 19:49:58</li>\n<li>interpretation: Listed GPU capacity is available.</li>\n<li>evidence: availability_state=available; capacity_booked_through=None</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: Marketplace availability moves into the opposite registered state.</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n<li>metrics:</li>\n<ul>\n<li>availability_state: available</li>\n<li>capacity_booked_through: —</li>\n</ul>\n</ul>\n<h3>GPU asset residual values — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_residual_value</code></li>\n<li>horizon: medium_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: secondary_market_unavailable</li>\n<li>data quality: source_not_implemented</li>\n</ul>\n<h3>near-term GPU rental pricing — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_spot_contract</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: tenor_history_unavailable</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n</ul>\n<h3>H100 rental-provider pricing power — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_h100_spot</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: spot_trend_unavailable</li>\n<li>data quality: advertised_prices_not_verified_transactions</li>\n</ul>\n<h3>OpenRouter public-app inference activity — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>compute_inference_demand</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: seven_day_snapshot_history_insufficient</li>\n<li>data quality: panel_not_census, public_apps_only, rolling_30d_window</li>\n</ul>\n<h3>US policy impact on AI-buildout beneficiaries and constraints — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>policy_us_ai_events</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: document_impact_not_classified</li>\n<li>data quality: none</li>\n</ul>\n<h3>Northern Virginia data-centre power economics — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_basis_nova</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: dc_basis_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>PJM electricity demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_load_pjm</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: dc_load_anomaly_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>near-term PJM electricity demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_da_rt_spread</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: da_rt_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>AI data-centre capacity delivery — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>power_capacity_delivery</code></li>\n<li>horizon: structural</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Filed capacity, interconnection, equipment, and labour evidence is not wired.</li>\n<li>reason codes: filed_capacity_inputs_unavailable</li>\n<li>data quality: plane_not_implemented</li>\n</ul>\n<h3>listed BDC pricing relative to investment-grade credit — BULLISH</h3>\n<ul>\n<li>chart: <code>private_bdc_lqd</code></li>\n<li>domain / observation: private_markets / private_credit_canary</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-21 / 2026-08-24 11:39:37</li>\n<li>interpretation: The registered relative-price chart changed 5.85% over 30 days.</li>\n<li>evidence: 30-day relative-price change: 5.85%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The 30-day change crosses the opposite 1.5% band.</li>\n<li>data quality: price_action_proxy</li>\n<li>metrics:</li>\n<ul>\n<li>band_pct: 1.5</li>\n<li>change_30d_pct: 5.85</li>\n<li>components: [&#x27;ARCC.US&#x27;, &#x27;BXSL.US&#x27;, &#x27;LQD.US&#x27;, &#x27;OBDC.US&#x27;]</li>\n<li>series: BASKET_BDC_LQD</li>\n<li>value: 107.45</li>\n</ul>\n</ul>\n<h3>private AI-company secondary-market pricing — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>private_secondary_discount</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: The chart family is registered, but admissible directional evidence is not yet available.</li>\n<li>reason codes: direct_private_marks_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h3>leading foundry demand represented by TSMC monthly revenue — BULLISH</h3>\n<ul>\n<li>chart: <code>supply_tsmc_revenue</code></li>\n<li>domain / observation: supply_chain / foundry_demand</li>\n<li>horizon: near_term</li>\n<li>as of / known at: 2026-08-23 / 2026-08-16 16:00:00</li>\n<li>interpretation: Published year-on-year growth is 44.69%.</li>\n<li>evidence: tsmc_revenue published year-on-year growth: 44.69%.</li>\n<li>conflicting evidence: none recorded</li>\n<li>falsifier: The next published year-on-year growth rate crosses zero.</li>\n<li>data quality: no flags</li>\n<li>metrics:</li>\n<ul>\n<li>mom_pct: 5.625</li>\n<li>source_period: 2026-07-01</li>\n<li>value: 467,580,548,000</li>\n<li>yoy_pct: 44.69</li>\n</ul>\n</ul>\n<h3>Korean semiconductor export demand — UNAVAILABLE</h3>\n<ul>\n<li>chart: <code>supply_korea_semiconductor_exports</code></li>\n<li>horizon: near_term</li>\n<li>as of: 2026-08-23</li>\n<li>why unavailable: Required evidence is unavailable.</li>\n<li>reason codes: monthly_growth_unavailable</li>\n<li>data quality: none</li>\n</ul>\n<h2>Market Metrics</h2>\n<h3>Power — load (EIA-930, latest complete day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — load (EIA-930, latest complete day) table\" tabindex=\"0\"><table><caption>Power — load (EIA-930, latest complete day)</caption><thead><tr>\n<th scope=\"col\">BA</th><th scope=\"col\">as of</th><th scope=\"col\">demand MWh</th><th scope=\"col\">hours</th><th scope=\"col\">anomaly z</th><th scope=\"col\">YoY %</th>\n</tr></thead><tbody>\n<tr><td>CISO</td><td>2026-08-23</td><td class=\"num\">789,538</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>ERCO</td><td>2026-08-23</td><td class=\"num\">1,765,398</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n<tr><td>PJM</td><td>2026-08-23</td><td class=\"num\">2,312,718</td><td class=\"num\">24</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Power — prices (ISO LMP, latest day)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Power — prices (ISO LMP, latest day) table\" tabindex=\"0\"><table><caption>Power — prices (ISO LMP, latest day)</caption><thead><tr>\n<th scope=\"col\">ISO</th><th scope=\"col\">mkt</th><th scope=\"col\">location</th><th scope=\"col\">LMP avg</th><th scope=\"col\">neg-price hrs</th><th scope=\"col\">basis vs hub</th><th scope=\"col\">spark 7HR</th>\n</tr></thead><tbody>\n<tr><td>caiso</td><td>da</td><td>TH_NP15_GEN-APND</td><td class=\"num\">44.72</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_SP15_GEN-APND</td><td class=\"num\">44.57</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n<tr><td>caiso</td><td>da</td><td>TH_ZP26_GEN-APND</td><td class=\"num\">43.26</td><td class=\"num\">0</td><td>—</td><td>—</td></tr>\n</tbody></table></div>\n<h3>Compute — GPU rental (latest day)</h3>\n<ul>\n<li>H100 1y contract (canonical $/hr): —</li>\n<li>H100 1y contract (offered $/hr): —</li>\n<li>H100 spot (canonical $/hr): —</li>\n<li>H100 spot (offered $/hr): 2.436</li>\n<li>as of: 2026-08-23</li>\n<li>frontier SKU: b300</li>\n<li>frontier spot (offered $/hr): 7.415</li>\n<li>offered-only day: 1</li>\n<li>sources: 2</li>\n<li>spot trend 30d %: —</li>\n<li>spot/contract spread %: —</li>\n<li>note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).</li>\n</ul>\n<h3>CEF NAV premium (latest per fund)</h3>\n<p>No rows — feed empty or not yet collected.</p>\n<h3>Supply chain (latest per series)</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Supply chain (latest per series) table\" tabindex=\"0\"><table><caption>Supply chain (latest per series)</caption><thead><tr>\n<th scope=\"col\">series</th><th scope=\"col\">period</th><th scope=\"col\">value</th><th scope=\"col\">YoY %</th><th scope=\"col\">MoM %</th><th scope=\"col\">quality flags</th>\n</tr></thead><tbody>\n<tr><td>tsmc_revenue</td><td>2026-07-01</td><td class=\"num\">467,580,548,000</td><td class=\"num\">44.69</td><td class=\"num\">5.625</td><td>—</td></tr>\n</tbody></table></div>\n<h2>Cross-Domain Events</h2>\n<h3>Open</h3>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Open table\" tabindex=\"0\"><table><caption>Open</caption><thead><tr>\n<th scope=\"col\">code</th><th scope=\"col\">relationship</th><th scope=\"col\">domains</th><th scope=\"col\">detected</th><th scope=\"col\">horizon d</th>\n</tr></thead><tbody>\n<tr><td>FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE</td><td>conflict</td><td>capital_markets+supply_chain</td><td>2026-08-22 12:25:41</td><td class=\"num\">90</td></tr>\n</tbody></table></div>\n<p>No events resolved in the trailing 14 days.</p>\n<h2>Investor Implications</h2>\n<p>These are chart-local diligence implications, not a portfolio verdict or recommendation. Opposing labels may appear together.</p>\n<ul>\n<li><strong>BEARISH — semiconductor equity leadership relative to the broad US market</strong> (<code>capital_markets.ai_equity_sentiment</code>, near_term): The registered relative-price chart changed -7.56% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>MIXED — public-credit risk appetite relevant to AI-buildout financing</strong> (<code>capital_markets.credit_risk_appetite</code>, near_term): The registered relative-price chart changed 0.88% over 30 days. Wrong if: The 30-day change crosses the opposite 1.0% band.</li>\n<li><strong>BULLISH — US equity breadth relative to capitalization-weighted equities</strong> (<code>capital_markets.market_breadth</code>, near_term): The registered relative-price chart changed 1.84% over 30 days. Wrong if: The 30-day change crosses the opposite 1.0% band.</li>\n<li><strong>BULLISH — near-term public-market risk appetite</strong> (<code>capital_markets.volatility_term_structure</code>, near_term): VIX/VIX3M is 0.818. Wrong if: VIX/VIX3M crosses the opposite registered 0.95/1.05 band.</li>\n<li><strong>BULLISH — AMD quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amd</code>, reported_quarter): AMD reported EPS surprise was 22.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AMZN quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amzn</code>, reported_quarter): AMZN reported EPS surprise was 2.73%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AVGO quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_avgo</code>, reported_quarter): AVGO reported EPS surprise was 1.67%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>MIXED — GOOGL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_googl</code>, reported_quarter): GOOGL reported EPS surprise was 216.32%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BEARISH — META quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_meta</code>, reported_quarter): META reported EPS surprise was -12.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — MSFT quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_msft</code>, reported_quarter): MSFT reported EPS surprise was 12.59%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — NVDA quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_nvda</code>, reported_quarter): NVDA reported EPS surprise was 5.65%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — ORCL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_orcl</code>, reported_quarter): ORCL reported EPS surprise was 13.29%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.asking_rates</code>, quarterly): Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — delivered wholesale colocation capacity in Northern Virginia</strong> (<code>colo_market.capacity_delivery</code>, quarterly): Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>MIXED — listed data-centre landlord pricing relative to the broad market</strong> (<code>colo_market.public_landlord_sentiment</code>, near_term): The registered relative-price chart changed 0.26% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.vacancy</code>, quarterly): Northern Virginia vacancy_pct was 0.3 pct (decreased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — public-market pricing of the hyperscaler cohort relative to the broad market</strong> (<code>company_exposure.hyperscaler_relative_price</code>, near_term): The registered relative-price chart changed 4.22% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BEARISH — public-market pricing of the neocloud cohort relative to the broad market</strong> (<code>company_exposure.neocloud_relative_price</code>, near_term): The registered relative-price chart changed -2.32% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BEARISH — public-market pricing of the AI-power cohort relative to the broad market</strong> (<code>company_exposure.power_cohort_relative_price</code>, near_term): The registered relative-price chart changed -7.83% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>MIXED — GPU rental-provider pricing power</strong> (<code>compute_market.gpu_availability</code>, near_term): Listed GPU capacity is available. Wrong if: Marketplace availability moves into the opposite registered state.</li>\n<li><strong>BULLISH — listed BDC pricing relative to investment-grade credit</strong> (<code>private_markets.private_credit_canary</code>, near_term): The registered relative-price chart changed 5.85% over 30 days. Wrong if: The 30-day change crosses the opposite 1.5% band.</li>\n<li><strong>BULLISH — leading foundry demand represented by TSMC monthly revenue</strong> (<code>supply_chain.foundry_demand</code>, near_term): Published year-on-year growth is 44.69%. Wrong if: The next published year-on-year growth rate crosses zero.</li>\n</ul>\n<h2>Operator &amp; Implementation Implications</h2>\n<p>These observations identify diligence questions for AI infrastructure planning; they do not substitute for site, vendor, engineering, or regulatory diligence.</p>\n<ul>\n<li><strong>BULLISH — AMD quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amd</code>, reported_quarter): AMD reported EPS surprise was 22.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AMZN quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_amzn</code>, reported_quarter): AMZN reported EPS surprise was 2.73%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — AVGO quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_avgo</code>, reported_quarter): AVGO reported EPS surprise was 1.67%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>MIXED — GOOGL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_googl</code>, reported_quarter): GOOGL reported EPS surprise was 216.32%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BEARISH — META quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_meta</code>, reported_quarter): META reported EPS surprise was -12.96%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — MSFT quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_msft</code>, reported_quarter): MSFT reported EPS surprise was 12.59%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — NVDA quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_nvda</code>, reported_quarter): NVDA reported EPS surprise was 5.65%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — ORCL quarterly EPS execution versus consensus</strong> (<code>catalysts.earnings_surprise_orcl</code>, reported_quarter): ORCL reported EPS surprise was 13.29%. Wrong if: The next reported quarterly EPS surprise crosses the opposite 1% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.asking_rates</code>, quarterly): Northern Virginia asking_rent_midpoint_usd_kw_month was 212.5 usd_per_kw_month (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>BULLISH — delivered wholesale colocation capacity in Northern Virginia</strong> (<code>colo_market.capacity_delivery</code>, quarterly): Northern Virginia inventory_added_yoy_mw was 1135.9 mw (increased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>MIXED — listed data-centre landlord pricing relative to the broad market</strong> (<code>colo_market.public_landlord_sentiment</code>, near_term): The registered relative-price chart changed 0.26% over 30 days. Wrong if: The 30-day change crosses the opposite 2.0% band.</li>\n<li><strong>BULLISH — landlord pricing power in Northern Virginia colocation</strong> (<code>colo_market.vacancy</code>, quarterly): Northern Virginia vacancy_pct was 0.3 pct (decreased). Wrong if: The next cited market report reverses the published metric direction.</li>\n<li><strong>MIXED — GPU rental-provider pricing power</strong> (<code>compute_market.gpu_availability</code>, near_term): Listed GPU capacity is available. Wrong if: Marketplace availability moves into the opposite registered state.</li>\n<li><strong>BULLISH — leading foundry demand represented by TSMC monthly revenue</strong> (<code>supply_chain.foundry_demand</code>, near_term): Published year-on-year growth is 44.69%. Wrong if: The next published year-on-year growth rate crosses zero.</li>\n</ul>\n<h2>Forced Flows &amp; Opportunities</h2>\n<p>No forced-flow events fired in the trailing 30 days.</p>\n<p>No open opportunities.</p>\n<p>No opportunities settled in the trailing 30 days.</p>\n<h2>Narrative</h2>\n<p>Narrative unavailable: not requested for this issue.</p>\n<h2>Work with Prexel</h2>\n<p>Prexel helps funds, investors, and companies turn AI-buildout evidence into diligence, operating decisions, data systems, and implementation plans.</p>\n<ul>\n<li>Investor work: thematic diligence, exposure mapping, catalyst monitoring, and custom evidence packs.</li>\n<li>Company work: AI strategy, infrastructure and vendor diligence, data architecture, and implementation support.</li>\n<li>Engagement route: contact Prexel through the channel that supplied this brief.</li>\n</ul>\n<h2>Appendix — Data Coverage</h2>\n<div class=\"table-scroll\" role=\"region\" aria-label=\"Appendix — Data Coverage table\" tabindex=\"0\"><table><caption>Appendix — Data Coverage</caption><thead><tr>\n<th scope=\"col\">collector</th><th scope=\"col\">last status</th><th scope=\"col\">rows</th><th scope=\"col\">last run</th><th scope=\"col\">data as of</th><th scope=\"col\">note</th>\n</tr></thead><tbody>\n<tr><td>catalyst_markets</td><td>ok</td><td class=\"num\">12</td><td>2026-08-24 11:39:37</td><td>2026-08-24 11:39:37</td><td>—</td></tr>\n<tr><td>cef_nav</td><td>ok</td><td class=\"num\">1</td><td>2026-08-24 11:39:37</td><td>2026-08-21 00:00:00</td><td>—</td></tr>\n<tr><td>colo_public_research</td><td>ok</td><td class=\"num\">3</td><td>2026-08-24 11:39:37</td><td>2026-03-31 00:00:00</td><td>—</td></tr>\n<tr><td>earnings_events</td><td>ok</td><td class=\"num\">5</td><td>2026-08-24 11:39:37</td><td>2026-10-28 00:00:00</td><td>—</td></tr>\n<tr><td>edgar_disclosures</td><td>skipped</td><td class=\"num\">0</td><td>2026-08-24 11:39:37</td><td>—</td><td>AIB_EDGAR_CONTACT not configured</td></tr>\n<tr><td>eia930</td><td>ok</td><td class=\"num\">192</td><td>2026-08-24 11:39:36</td><td>2026-08-24 11:00:00</td><td>—</td></tr>\n<tr><td>engine</td><td>ok</td><td class=\"num\">1905</td><td>2026-08-24 11:40:01</td><td>2026-08-23 00:00:00</td><td>—</td></tr>\n<tr><td>equity_ohlcv</td><td>ok</td><td class=\"num\">693</td><td>2026-08-24 11:39:37</td><td>2026-08-24 00:00:00</td><td>—</td></tr>\n<tr><td>gpu_spot</td><td>ok</td><td class=\"num\">254</td><td>2026-08-24 11:39:36</td><td>2026-08-24 00:00:00</td><td>—</td></tr>\n<tr><td>iso_lmp</td><td>ok</td><td class=\"num\">72</td><td>2026-08-24 11:39:36</td><td>2026-08-25 06:00:00</td><td>partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&amp;_1787571588</td></tr>\n<tr><td>korea_exports</td><td>ok</td><td class=\"num\">1</td><td>2026-08-24 11:39:37</td><td>2026-08-20 00:00:00</td><td>—</td></tr>\n<tr><td>natgas</td><td>ok</td><td class=\"num\">6</td><td>2026-08-24 11:39:37</td><td>2026-08-18 00:00:00</td><td>—</td></tr>\n<tr><td>openrouter_activity</td><td>ok</td><td class=\"num\">100</td><td>2026-08-24 11:39:37</td><td>2026-08-23 00:00:00</td><td>—</td></tr>\n<tr><td>policy_events</td><td>ok</td><td class=\"num\">300</td><td>2026-08-24 11:39:37</td><td>2026-08-21 00:00:00</td><td>—</td></tr>\n<tr><td>tsmc_revenue</td><td>ok</td><td class=\"num\">0</td><td>2026-08-24 11:39:37</td><td>2026-07-01 00:00:00</td><td>—</td></tr>\n</tbody></table></div>\n<ul>\n<li>Skipped (key-gated / source unavailable — honest degradation, not silence): edgar_disclosures</li>\n</ul>\n<hr>\n<p>Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or unavailable for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue&#x27;s final markdown is stored append-only in <code>aib_gold.report_issues</code> for future external anchoring.</p>",
      "date_published": "2026-08-24T11:59:27Z",
      "id": "urn:prexel:issue:b71a840c-ed1b-55d0-a980-3d96af85f3f2",
      "summary": "Correction: this issue contains a withdrawn claim. Read the linked correction before using its figures.",
      "title": "PREXEL — AI_BUILDOUT · Issue No. 1 (daily)",
      "url": "https://prexel.xyz/issues/2026-08-23-daily-77096b587fee.html"
    }
  ],
  "title": "Prexel — AI Buildout Intelligence",
  "version": "https://jsonfeed.org/version/1.1"
}